ASIC cancels AFS licence for failing to lodge financial statements LeapRate

July 26, 2016 BY Valentina Kirilova

ASIC cancels AFS licence for failing to lodge financial statements

More to come from ASIC today. The Australian regulator has cancelled the Australian financial services (AFS) licence of Sydney-based Edwards Benefits Advisors Pty Ltd (Edwards Benefits) for failing to comply with a number of key obligations as a financial services licensee. In particular, ASIC found that Edwards Benefits: • failed to lodge financial statements, auditors…

July 26, 2016 BY Valentina Kirilova

FCA warns against Passion Finance loan firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against Passion Finance loan firm, operating from website www.passionfinance.co.uk showing address 27 Cambridge Park, London, E11 2PU, 8 Hayes Grove, Birmingham, West Midlands, B24 0HR and 28-29 Haymarket London…

July 26, 2016 BY Valentina Kirilova

ESMA finalises standards on sanctions and measures under MAR

The European Securities and Markets Authority (ESMA) has issued today final implementing technical standards (ITS) regarding sanctions and measures which will implement the Market Abuse Regulation (MAR). The ITS prescribe how national competent authorities (NCAs) should notify ESMA annually of the investigations they conduct and the sanctions and measures imposed in their Member States under…

July 26, 2016 BY Valentina Kirilova

Verizon Communications report strong profitability in 2Q 2016

After the news that Verizon Communications Inc. (NYSE, Nasdaq: VZ) bought online pioneer Yahoo (NASDAQ: YHOO), the telecoms giant has reported second-quarter earnings reflecting strong profitability and customer retention at Verizon Wireless, a repositioning of the wireline network footprint and cost structure, and scaling of new growth markets in mobile video and the Internet of Things…

July 26, 2016 BY Valentina Kirilova

Carbon Trade Exchange rebrands as Colonial Bourses after launch of new platform

Carbon Trade Exchange (CTX) has announced that the firm has launched a new technology platform and has rebranded as Colonial Bourses. Nathan Rockliff, Executive Director and COO of CTX, commented: The new technology will enable us to implement our multi-product vision and provide market participants with greater access to the world’s environmental markets that is simple, secure…

July 26, 2016 BY Valentina Kirilova

SwipeStox signs up FXCM for its mobile social trading app

Social mobile trading app developer Swipestox has sealed a further partnership with the Forex Capital Markets LTD (FXCM), New York unit of FXCM Inc (NYSE:FXCM), which will see FXCM joining its growing network. FXCM traders who engage in mobile social trading on the SwipeStox app may trade all major forex crosses, international indices and soft…

July 26, 2016 BY Valentina Kirilova

Fed prepares action against Goldman Sachs

The U.S. Federal Reserve is preparing an enforcement action against Goldman Sachs Group Inc (GS.N) related to a leak of confidential government information to one of its employees. This will include a penalty of less than $50 million. The Fed is also considering taking action against a former Goldman executive who had access to the…

July 26, 2016 BY Valentina Kirilova

ASIC brings charges against Murray Bridge grain trader

Murray Bridge grain trader, Brenton Strauss, has appeared in the Murray Bridge Magistrates' Court on two charges, brought by ASIC, of breaching his directors’ duties. ASIC alleges that Mr Strauss, of Murray Bridge, South Australia, failed to exercise his powers as company director in good faith and in the best interests of a corporation and…

July 26, 2016 BY Valentina Kirilova

SGX welcomes Katrina to Catalist

Shares of food and beverage firm Katrina Group on Tuesday surged 83% to S$0.385 on its trading debut from its initial public offering (IPO) price of S$0.21. Nearly 22 million shares changed hands as at 10.13am. The Catalist-listed group (stock code: 1A0) placed out 35.8 million new shares to raise gross proceeds of S$7.5 million. Katrina…

July 26, 2016 BY LeapRate Staff

Takeprofit Technology launches EasyMAM tool for MT4 brokers

MT4 solutions provider Takeprofit Technology has released multi-account management solution called EasyMAM. Takeprofit's EasyMAM tool lets brokers organize mini 'hedge funds' in their MT4, where investors place their funds for a certain period of time in order to grow it through the successful trading of experienced money managers. These money managers trade and earn fees for…