London Stock Exchange welcomed the AIM flotation of Creo Medical Group, a medical device company focused on the emerging field of surgical endoscopy. The Chepstow-based company raised £20 million on admission, with a market capitalisation of approximately £61 million. The company has been supported by Finance Wales, who have an equity stake in the company. The…
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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 Novostar Finance Co Ltd. Novostar Finance Co Ltd is not authorised by the FCA but has been targeting people in the UK and is also carrying…
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The Securities and Futures Commission (SFC) and The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), are closely monitoring rights issues and open offers that substantially dilute the interests of non-subscribing minority shareholders (highly dilutive offers). The SFC and the Exchange are concerned that in some…
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The Securities and Futures Commission (SFC) today released a new Survey on the Sale of Non-exchange Traded Investment Products based on responses to a questionnaire sent to 1,611 licensed corporations. The SFC conducted this survey with an aim to understand the industry landscape and to obtain an overview of the types and value of investment…
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Cyprus financial regulator CySEC has announced that binary options operator Airfinance Pro Ltd has renounced its CIF license, and is no longer regulated by CySEC. Airfinance manages several binary options brokerage brands, including BuzzTrade (at buzztrade.com) and Investing Area (at investing-area.com). BuzzTrade is a sponsor of Portuguese Primeira Liga football club FC Porto. Airfinance may have had…
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Continuing a busy week for UK regulator the FCA, in which it has already shaken the online trading market by introducing stricter rules for CFD trading, the FCA has given an update on the post-implementation review of the loan-based and investment-based crowdfunding market. UK watchdog's earlier call for input raised a number of issues for…
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Leading CFD brokers Plus500 Ltd (LON:PLUS) and CMC Markets Plc (LON:CMCX) have each issued statements in response to yesterday’s new directives from German financial regulator BaFin on CFD trading. In summary, each of Plus500 and CMC Markets stated that they welcomed BaFin's moves. Both Plus500 and CMC Markets stated that they already provide negative balance…
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On 1 December 2016, The Taiwan Futures Exchange (TAIFEX) listed new futures and options contracts on one underlying ETF linked to China’s stock market – the Capital SZSE SME Price Index ETF (TWSE code: 00643 (TWD)). Expanding the coverage of the Exchange’s offerings over China’s major stock indices, the Capital SZSE SME Price Index ETF…
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LCH, a global clearing house, announced that its SwapClear service has cleared a total of $1 trillion in notional of inflation swaps since the service launched in April 2015. This achievement follows a significant increase in cleared activity on the buy and sell side following the implementation of non-cleared margin rules in September 2016. Inflation-linked…
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The Canadian Securities Administrators (CSA) published final amendments that require fund managers to use a standardized CSA mutual fund risk classification methodology to determine the investment risk level of conventional mutual funds and exchange-traded mutual funds (ETFs) (collectively referred to as “mutual funds”) in the Fund Facts and ETF Facts, respectively. Currently, fund managers must…
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