The Dubai Financial Services Authority (DFSA) Chairman, Mr Saeb Eigner, delivered an address on the opening morning of the tenth annual Asian Financial Forum (AFF) in Hong Kong, emphasising Dubai’s role as a financial hub for the region. The forum was attended by 2,800 participants from Asia, Europe and the US, including finance ministers, heads…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm UK Money Lenders. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics…
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The Investor Advisory Panel (IAP), an independent committee established by the Ontario Securities Commission (OSC), released a report on the risk profiling roundtable that it jointly organized with the OSC Investor Office on September 28, 2016. The roundtable was held to explore the findings of the IAP’s research report on the risk profiling used in…
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The FCA warned that pension scheme operators are at risk from smarter scams. This alert highlights some of the risks arising from authorised firms failing to carry out appropriate due diligence on investment offerings. While aimed primarily at pension scheme operators, it will also be of interest to financial advisers and those providing discretionary fund…
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Deutsche Börse published further details today on its new segment for small and medium-sized enterprises (SMEs) to be launched in March, replacing the Entry Standard in the exchange-regulated market. Accordingly, Edison Investment Research and Morningstar will be creating the research reports mandatory for all equity issuers. The reports are intended to improve companies' transparency and…
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The Securities and Exchange Commission (SEC) announced fraud charges and an emergency asset freeze obtained against a businessman in South Carolina accused of siphoning funds he raised from investors for the purpose of purchasing or renovating senior housing facilities. The SEC alleges that Dwayne Edwards improperly commingled money from several different municipal bond offerings and…
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EnQuest PLC announced an agreement to acquire from BP an initial 25% interest in the Magnus oil field representing c.15.9 MMboe of additional net 2P reserves (gross reserves of 63.4 MMboe) with net production of 4.2 Mboe/d in 2016 (gross production 16.6 Mboe/d) as well as a 3.0% interest in the Sullom Voe oil terminal…
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Investment management giant Pacific Investment Management Co (PIMCO) has announced that Kimberley Stafford, Managing Director and current Global Head of PIMCO's Consultant Relations Group, has been named the new Head of Asia-Pacific. Ms. Stafford will assume her responsibilities immediately and will relocate to Hong Kong mid-year. She will report to PIMCO's Chief Executive Officer, Emmanuel…
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ASIC has today released a consultation paper proposing to consolidate and clarify Australia's market integrity rules. There are currently 14 market integrity rule books that set out obligations and prohibitions applying to activities and conduct on eight licensed financial markets. Collectively, these rule books amount to more than 1,300 pages of regulation, and a further…
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The Securities and Exchange Commission (SEC) announced an award of more than $7 million split among three whistleblowers who helped the SEC prosecute an investment scheme. One whistleblower provided information that was a primary impetus for the start of the SEC’s investigation. That whistleblower will receive more than $4 million. Two other whistleblowers jointly provided…
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