Singapore Exchange (SGX:S68) has just reported its market statistics for August 2016. Here are some of the highlights: Securities Total Securities market turnover value fell 2% month on month and fell 27% year on year to S$20.6 billion, during 22 trading days compared to 20 in July 2016 and 19 in August 2015. Securities daily…
Read moreMorgan 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…
Read moreASIC has made a new legislative instrument to replace three class orders on dollar disclosure that were due to expire (‘sunset’) on October 1, 2016 and April 1, 2017 respectively. The new legislative instrument is ASIC Corporations (Disclosure in Dollars) Instrument 2016/767. The instrument has the same effect as relief that ASIC had granted by…
Read moreToday the UK Financial Conduct Authority put out details of the cloned firm IBL Markets. 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 tactics…
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 moreASIC has published its fifth report on the regulation of corporate finance issues in Australia. The report, which covers the period January to June 2016, provides companies and their advisers with insights into ASIC's regulatory approach in the corporate finance sector and aims to assist them with their associated legal and compliance obligations. It also…
Read moreASEAN audit regulators are in discussions with the World Bank on collaborative efforts to further raising the standard of audit quality in ASEAN. This was a key agenda item at the 6th Annual Meeting of the ASEAN Audit Regulators Group (AARG) which was held in Singapore on August 26, 2016. Hosted by ACRA, the meeting…
Read moreThe Federal Court has found that the directors of Storm Financial, Emmanuel and Julie Cassimatis, breached their duties as directors. The Court also found that Storm Financial provided inappropriate advice to certain investors. Since around 1994, Storm Financial operated a system created by the Cassimatises, in which what ASIC considered to be "one-size-fits-all" investment advice…
Read moreThe Securities and Exchange Commission (SEC) has adopted amendments to several Investment Advisers Act rules and the investment adviser registration and reporting form to enhance the reporting and disclosure of information by investment advisers. The amendments will improve the quality of information that investment advisers provide to investors and the Commission. SEC Chair Mary Jo White…
Read moreDarren James Lind, 45, a former director of Golden Fields Resources Pty Ltd and a director of Longer View Pty Ltd, was represented in the Adelaide Magistrates Court today charged with 2 counts of insider trading in shares of Minotaur Exploration Limited (Minotaur). ASIC alleges Mr Lind, of Brighton, South Australia, procured Longer View Pty…
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