September 07, 2016 BY Valentina Kirilova

Graham Wright to join LCH Limited Board as an independent non-executive director

The international clearing house LCH has announced that Graham Wright joins the LCH Limited Board as an independent non-executive director. Wright is currently Chief Information Security Officer and Global Head of Digital Risk for National Grid and will bring substantial technology, operations and operational risk experience to LCH’s UK entity. Previously, he has held a number of senior…

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September 07, 2016 BY Mike Fox

CME authorized to provide OTC services and designated as CCP by SFC Hong Kong

CME Group, the world's leading and most diverse derivatives marketplace, today announced that Chicago Mercantile Exchange Inc. has been granted authorization to provide OTC clearing and settlement services and has been designated as a central counterparty (CCP) by the Securities and Futures Commission (SFC) in Hong Kong. With this authorization, the clearing house division of CME…

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September 07, 2016 BY Valentina Kirilova

Evolution Mining writes down Pajingo mine

ASIC has noted the decision by Evolution Mining Limited to reduce asset values in its financial report for the year ended June 30, 2016. ASIC had previously made inquiries with the company’s auditor in relation to the recoverable amount of the company's Pajingo gold mine in the company's financial report at June 30, 2015. In its…

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September 07, 2016 BY Valentina Kirilova

Hong Kong SFC bans two former HSBC employees for life

The Securities and Futures Commission (SFC) has banned Ms Chau Hang Yu and Mr Steve Chow Chun Yin, both former employees of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life following their criminal convictions. The District Court found that Chau and Chow, both of whom were responsible for selling…

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September 07, 2016 BY Valentina Kirilova

HKEX censures a former executive of Tianli Holdings Group Limited

The Listing Committee of The Stock Exchange of Hong Kong Limited has censured Mr Xu Chun Cheng, a former executive director and chief financial officer of Tianli Holdings Group Limited, formerly known as EYANG Holdings (Group) Co., Limited (117:Hong Kong), for breaching his obligations under the Declaration and Undertaking with regard to Directors given to The Stock Exchange…

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September 07, 2016 BY Valentina Kirilova

Hong Kong SFC adds PCG Resources 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…

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September 07, 2016 BY LeapRate Staff

Valutrades completes £1.2M recapitalization to boost marketing efforts around new website - LeapRate Exclusive

LeapRate Exclusive... LeapRate has learned that FCA regulated retail forex and CFD broker Valutrades has completed a £1.2 million recapitalization, as the company looks to both shore up capital and free up money for an increased marketing budget. We understand that Valutrades, which offers trading on the MT4 platform, is planning a serious marketing push…

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September 07, 2016 BY Valentina Kirilova

ING Bank to compensate Living Super customers due to potentially misleading costs and fees statements

ING Bank (Australia) Limited, the promoter and investment manager of the ING Direct Superannuation Fund (Living Super), will compensate around 24,500 members approximately $5.38 million following ASIC concerns that statements made in its promotional material about the fees paid in connection with its Living Super product were potentially misleading. In particular, ASIC was concerned that…

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September 07, 2016 BY Valentina Kirilova

Morgan Stanley pays $123,750 in infringement notice penalty

Morgan Stanley Australia Securities Limited has paid a penalty of $123,750 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The MDP had reasonable grounds to believe that Morgan Stanley contravened subsection 798H(1) of the Corporations Act by reason of contravening a number of account reconciliation rules in Part…

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