September 09, 2016 BY Valentina Kirilova

SEC charges two firms with compliance failures in wrap fee programs

The Securities and Exchange Commission (SEC) has announced that two investment advisory firms are settling charges related to compliance failures within their wrap fee programs. SEC investigations found that St. Petersburg, Fla.-based Raymond James & Associates and Milwaukee-based Robert W. Baird & Co. failed to establish policies and procedures necessary to determine the amount of commissions their…

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September 09, 2016 BY Valentina Kirilova

SFC and HKEX extend deadline for response to the joint consultation on listing regulation

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), have announced a two-month extension of the deadline for responding to the joint consultation on the proposed enhancements to the Exchange’s decision-making and governance structure for listing regulationNote. The consultation…

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September 09, 2016 BY Valentina Kirilova

Court appoints provisional liquidator to Uglii Corporation Limited and other related companies

Following an application by ASIC, the Federal Court of Australia has ordered the appointment of Ms Robyn Erskine and Mr Adrian Hunter of Brooke Bird as joint and several provisional liquidators of Uglii Corporation Limited, Traralgon Technology Holdings Limited, Uglii Find Australia Limited, BizMio Limited, Projects Discovery Services Pty Ltd and Global Ads System Pty…

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September 09, 2016 BY Valentina Kirilova

Executives charged with inflating performance of real estate investment trust

The Securities and Exchange Commission (SEC) has charged two former accounting executives with overstating the financial performance of a large publicly-traded real estate investment trust (REIT) then known as American Realty Capital Properties (ARCP) by purposely inflating a key metric used by analysts and investors to assess the company. According to the SEC’s complaint, then-chief financial…

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