The Financial Markets Authority (FMA) has warned an individual in relation to suspected misleading or deceptive conduct by a registered financial adviser. Following an investigation by the FMA, it concluded that the registered financial adviser had engaged in misleading or deceptive conduct when he: advised his clients of an alternative life cover plan with a…
Read moreASIC has issued a consultation paper proposing to remake three class orders that are due to expire (sunset) on October 1, 2016 and April 1, 2017. The class orders affect the audit of proprietary companies and financial reporting by wholly-owned entities. The consultation paper also seeks feedback on ASIC guidance documents on audit relief and…
Read moreBursa Malaysia Berhad (Bursa Malaysia) has enabled multi-currency fixed income instruments in its web-based Electronic Trading Platform (ETP) to ensure the ongoing relevance of the platform for fixed income instruments. The ETP system is a centralised price and trade repository and dissemination for the primary and secondary bond market which provides an efficient and facilitative…
Read moreHong 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…
Read moreA former director of one of the Kleenmaid group of companies, Bradley Wendell Young was sentenced to nine years imprisonment last Friday after being found guilty by a District Court jury of 18 offences arising out of the collapse of the national whitegoods distributor. The trial lasted for 71 days. Mr Young was sentenced to…
Read moreSome weeks our Forex Industry News ticker at LeapRate seems to be churning out the same ol' thing - volumes, financial results, broker fines, executive moves, new office here, new product there.... And some weeks, as Monty Python would say, it feels like And Now for Something Completely Different. Well it was one of those kinds…
Read moreThe ban includes products being offered by brokers regulated elsewhere in the EU.
Read moreSome late breaking news into the weekend as we found out that Interactive Brokers Group, Inc (NASDAQ: IBKR) has sent alerts to clients informing them of an update in their service plans for U.S. based Forex traders with the company. It looks like Interactive Brokers will restrict margin FX trading only to "Eligible Contract Participants", meaning those with…
Read moreThe Financial Crimes Enforcement Network (FinCEN) today issued final rules relating to customer due diligence requirements that are applicable to futures commission merchant (FCM) and introducing broker (IB) Members. Under the new rules, FCM and IB Members will be required to identify and verify the identity of beneficial owners of legal entity customers. The final…
Read moreThe Jersey Financial Services Commission (JFSC) signed a Memorandum of Understanding (MoU) with the Liechtenstein Financial Market Authority (FMA) on 11 August 2016, which puts in place a formal mechanism to enable the regulatory authorities to co-operate on supervisory matters, exchange information and apply oversight of regulated firms in order to maintain the stability and…
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