AAT stays the ASIC banning of former financial adviser for misconduct in warrants market pending review LeapRate

November 10, 2016 BY Valentina Kirilova

AAT stays the ASIC banning of former financial adviser for misconduct in warrants market pending review

On 8 September 2016, ASIC has banned Michael Spencer, formerly a financial adviser, from providing financial services for three years. ASIC has found that Mr Spencer engaged in manipulation of the price of three types of MINI warrants issued by Credit Suisse, commonly called "MINIs". MINIs are a type of derivative product traded on the…

November 10, 2016 BY Valentina Kirilova

Hong Kong SFC adds HC Capital Trust to its alert list

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…

November 10, 2016 BY Valentina Kirilova

Methodology of the Moscow Exchange Indices Calculation to take effect

On November 21, 2016, the new Methodology of the Moscow Exchange Indices Calculation will come into force, the text of which was disclosed on the Moscow Exchange website on August 29, 2016. The methodology has been amended to include new provisions with regard to a liquidity factor. This factor has been added to the weighting…

November 10, 2016 BY Valentina Kirilova

Movie producer David R. Bergstein charged with defrauding hedge fund investors

The Securities and Exchange Commission (SEC) has charged a former movie producer and self-proclaimed private equity executive with defrauding investors in hedge funds and using the money he stole to support his extravagant lifestyle. According to the SEC’s complaint, David R. Bergstein of Hidden Hills, California, stole millions from investors in 2011 and 2012 and…

November 10, 2016 BY Valentina Kirilova

ASIC accepts voluntary undertakings from NSW liquidators

ASIC has accepted voluntary undertakings (VUs) from NSW based registered liquidators, Mr Riad Tayeh and Mr David Solomons, both of deVries Tayeh – DVT Group. ASIC’s ongoing industry wide project to test compliance with registered liquidators' obligations to lodge documents and publish notices required under the law continues to identify practitioners not complying with basic…

Impeachment aftermath - Facts Vs Trump, what’s the Markets bet?

November 10, 2016 BY Valentina Kirilova

TRUMPet sounds @TheWhiteHouse: Market and people's reactions after the 2016 US election

Literally some several hours after Trump's shock victory, markets continue to react on the news. The pound dipped in and out of negative territory in volatile trade as the dollar recovered against a basket of currencies on Monday, but firmed in a remarkable snapback later on Thursday. Oil edged higher, Asian shares rallied on Thursday.…

November 10, 2016 BY Valentina Kirilova

Former Gold Coast company director jailed after pleading guilty to dishonestly dealing with millions of dollars of company funds

Following an ASIC investigation, Mr. Frederick Leslie Hansen, formerly of Clear Island Waters on the Gold Coast, has been sentenced in the Southport District Court to 4 years imprisonment. On 14 October 2016, Mr. Hansen pleaded guilty to two counts of dishonestly using his position as a director of Global Rule Pty Ltd and was…

November 10, 2016 BY LeapRate Staff

FXCM ties 50% of senior management bonuses to repaying Leucadia loan in 2017

Retail Forex broker FXCM Inc (NASDAQ:FXCM) has released details of its 2017 executive compensation plan, and it seems that it is placing a large premium on repaying in full its loan from Leucadia National Corp (NYSE:LUK). On November 7, FXCM's Board of Directors approved the company’s 2017 Incentive Bonus Plan for Founder-Directors and Specified Executive Officers for the…

November 10, 2016 BY LeapRate Staff

KVB Kunlun shares fall 6% as company reports 20% drop in Q3 Revenues

Hong Kong Forex retail forex broker KVB Kunlun Financial Group Ltd (HKG:8077) reported its Q3 results, and they were not pretty. And the stock market responded in kind. After seeing its business shrink by 21% in Q2, KVB saw its revenues plummet another 20% in Q3 to HK$ 66.6 million (USD $8.6 million) - its…

November 09, 2016 BY admin

CME sets trade date for COMEX London Spot Gold and Spot Silver Futures

CME Group (NASDAQ: CME) the world's leading and most diverse derivatives marketplace announced today that on Sunday January 8, 2017 for trade date Monday, January 9, 2017 (and pending final regulatory approval), trading will commence in COMEX’s London Spot Gold and London Spot Silver Futures. These innovative contracts will provide market participants with exposure to…