SFC clarifies competence requirements for licensees seeking to enter asset management business LeapRate

June 23, 2017 BY Valentina Kirilova

SFC clarifies competence requirements for licensees seeking to enter asset management business

The Hong Kong Securities and Futures Commission (SFC) today issued a circular to clarify certain competence requirements for existing licensed persons seeking to be licensed for Type 9 regulated activity (asset management) and to provide further guidance on how the SFC assesses the competence of a corporation or a responsible officer (RO) to carry on…

June 23, 2017 BY Valentina Kirilova

Japan and Australia cooperate on Fintech

The Japan Financial Services Agency (JFSA) and Australian Securities and Investments Commission (ASIC) today announced the completion of a framework for co-operation to promote innovation in financial services in Japan and Australia. This Co-operation Framework recognises the global nature of innovation in financial services. In this environment, this Framework enables the JFSA and ASIC to…

June 23, 2017 BY Valentina Kirilova

Bursa Malaysia revamps participantship structure for Derivatives Clearing BHD

Bursa Malaysia Berhad today announced it has made amendments to the Rules of Bursa Malaysia Derivatives Berhad (BMD) and the Rules of Bursa Malaysia Derivatives Clearing Berhad (BMDC) in relation to the revamp of the participantship structure for BMDC. This is to enhance the attractiveness and competitiveness of the Malaysian derivatives market and to facilitate…

June 23, 2017 BY LeapRate Staff

Exclusive: Pepperstone swaps Phil Horner for Mohammed Tayeb on Board ahead of UK FX relaunch

LeapRate Exclusive... LeapRate has learned that Australia based retail forex broker Pepperstone has accepted the resignation of UK director Mohammed Tayeb, replacing him on the board of Pepperstone Limited with the company's Melbourne, Australia based CEO APAC, Phil Horner. The move comes as Pepperstone is scrambling to renew activity in its FCA regulated UK arm. LeapRate…

June 23, 2017 BY Valentina Kirilova

HKEX to introduce CNH- and US$-traded Gold Futures on 10 July

Hong Kong Exchanges and Clearing Limited (HKEX) announced that will introduce its planned Offshore Renminbi (CNH) and US dollar (US$) Gold Futures on Monday, 10 July 2017. They will be the first pair of commodity futures that can be physically delivered in Hong Kong. The 12 Contract Months on the launch day will comprise the…

June 23, 2017 BY Valentina Kirilova

Macquarie Securities pays $505,000 in infringement notice penalty

Macquarie Securities (Australia) Limited has paid a penalty of $505,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP), ASIC announced earlier today. The MDP had reasonable grounds to believe that Macquarie had contravened subsection 798H(1) of the Corporations Act 2001 (Cth) by failing to comply with the ASIC…

June 23, 2017 BY Valentina Kirilova

Robocall king Adrian Abramovich faces $120 million fine for ID spoofing

The Federal Communications Commission (FCC) today proposed a $120 million fine against an individual who apparently made almost 100 million spoofed robocalls in violation of the Truth in Caller ID Act. The law prohibits callers from deliberately falsifying caller ID information to disguise their identity with the intent to harm or defraud consumers. Mr. Adrian…

June 23, 2017 BY LeapRate Staff

Exness upgrades UK FX brokerage to 'IFPRU €730k' FCA license

Further to our earlier exclusive report that Cyprus-based retail forex broker Exness has made an application to the UK financial regulator FCA to increase the scope of its FCA-licensed arm, Exness Europe Limited (Exness UK), the company today announced that Exness UK has received approval from the FCA to upgrade its permissions to a full scope, "IFPRU…

June 23, 2017 BY LeapRate Staff

Exclusive: AxiTrader hires London-based Paul Kiff from GKFX as its new Global Head of Trading

LeapRate Exclusive... Australian retail forex broker AxiTrader has taken an interesting step in becoming more of a global broker, while beefing up its FCA-regulated UK operation. LeapRate has learned that AxiTrader has hired industry veteran Paul Kiff to its London team as the new Global Head of Trading. That function will operate our of London, instead of…

June 23, 2017 BY Valentina Kirilova

Moscow Exchange and Kazakhstan Stock Exchange sign MoU

On 20 June 2017, Kazakhstan Stock Exchange and Moscow Exchange announced that have signed a memorandum of understanding (MoU) on working together to promote exchange markets in Russia and Kazakhstan. The MoU was signed by Alina Aldambergen, CEO of Kazakhstan Stock Exchange, and Alexander Afanasiev, CEO of Moscow Exchange, during a visit to Moscow by…