Australia regulator ASIC announced that the Supreme Court of Victoria has ordered that Trevor Flugge, the former chairman of AWB Limited, pay a pecuniary penalty of $50,000 and be disqualified from managing corporations for a period of five years following the Court's finding that he contravened s180(1) of the Corporations Act. The orders follow the…
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Forex Industry News at LeapRate was headlined this week by regulators in two countries which have been quietly looking to grow their Forex Brokerage industries - Malta and New Zealand. Both regulators took steps to beef up their oversight of the sector, while not doing too much to scare off brokers looking for friendly (yet…
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UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the firm Money Information Service. Money Information Service is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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New shareholder voting prototype serves as next step in TMX's emerging digital strategy TMX Group (TSX: X) announced a new Distributed Ledger Technology (DLT) prototype as part of its strategy to maximize efficiencies and solve day-to-day client challenges across its various business areas. The company developed the electronic shareholder voting system prototype based on DLT,…
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Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…
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30 Issuers, 161 funds now listed on Bats in the U.S. Bats, a CBOE Holdings, Inc. (NASDAQ:CBOE) company, welcomed two new PowerShares ETFs to the Bats ETF Marketplace. The PowerShares S&P 500 Value with Momentum Portfolio (Bats: SPVM) seeks investment results that generally correspond to the price and yield of the S&P 500® High Momentum…
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UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the firm Lawson Consultancy Limited. Lawson Consultancy Limited is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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LeapRate Exclusive… LeapRate has learned from filings made in Russia that the Bank of Russia has issued an eighth license to operate a retail forex brokerage operation in the country, to PSB-Forex LLC. PSB-Forex is the newly-established retail forex brokerage subsidiary of second tier Russian commercial bank Promsvyazbank. Promsvyazbank ranks eleventh in assets among Russia's largest banks,…
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Cyprus financial regulator CySEC puts out some version of a warning against impersonators appearing as CySEC officials in an attempt to scam unsuspecting investors quite often these days. CySEC again reminded investors and the general public of the following: From time to time it comes to the attention of CySEC that unknown entities or individuals present…
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The Financial Conduct Authority (FCA) has banned and imposed financial penalties on two former Worldspreads Limited (WSL) employees. WSL, which operated a spread betting business, collapsed in March 2012. The FCA has fined WSL’s former Chief Financial Officer, Niall O’Kelly, £11,900 and former Financial Controller, Lukhvir Thind, £105,000, for engaging in market abuse and permanently…
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