ASIC has cancelled the registration of 133 approved self-managed superannuation fund (SMSF) auditors who did not lodge their annual statements. On July 28, 2016, ASIC sent a final warning to 185 approved SMSF auditors with outstanding annual statements. ASIC had alerted these auditors on a number of occasions that their registration would be cancelled if…
Read moreThe Securities and Futures Commission (SFC) has suspended the licence of Mr Ku Yuen Leung, an account executive of BOCOM International Securities Limited (BOCOM), for 18 months from 23 August 2016 to 22 February 2018 for engaging in manipulative activities. The disciplinary action follows an SFC investigation which found that between 5 and 26 November…
Read moreSingapore Exchange (SGX:S68) and The Baltic Exchange Limited (Baltic Exchange) are pleased to announce that they have agreed on the terms for a recommended offer by SGX for the entire issued share capital of the Baltic Exchange (Proposed Acquisition). Yesterday’s announcement follows a period of extensive consultation with Baltic Exchange shareholders and other stakeholders. Under…
Read moreMulti-asset trading and investment services provider Saxo Bank has announced two senior appointments as it continues to grow and invest in its retail and institutional functions across the Middle East, reflecting the region’s importance as a growth hub for both Saxo’s retail and institutional business. Mario Camara has joined the company as Head of Saxo Dubai.…
Read moreRetail Forex broker FXTM today announced exclusive new trading conditions: due to popular demand the company will offer 1:1000 leverage across all trading accounts on its ECN Server. Effective Thursday, September 1, 2016, every trader – regardless of the size of initial deposit – will be able to reap the benefits of the almighty ECN Server. As a…
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 moreFormer Victorian finance broker Rudy Noel Frugtniet's appeal against his permanent banning from engaging in credit activities has been dismissed by the Federal Court of Australia. ASIC permanently banned Mr Frugtniet, a former director of Unique Mortgage Services Pty Ltd (UMS), in July 2014 after it was found he provided misleading information and a lack…
Read moreToday the UK Financial Conduct Authority put out details of the cloned firm JB Trade Finance. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. The clone firm are using or giving out the following details as part of their…
Read moreThe Canadian Securities Administrators (CSA) has announced a multi-year research project to measure the impacts of requirements introduced by Phase 2 of the Client Relationship Model (CRM2) and the Point of Sale (POS) amendments on investors and the industry. On July 15, 2013, the CRM2 amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant…
Read moreThe technology company, developing and operating web-based solutions for the financial services industry, TIM Group, has recruited three further members to work in its New York office, to increase its footprint in a key market and to continue to support its US clients. Christopher Kleparek joins the team from Thomson Reuters where he was responsible…
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