Looking towards the horizon, the FinTech industry is set to be a strong influencing factor on the financial industry. The role that Blockchain may play for example is intriguing – and there’s little doubt that its advantages will potentially be harnessed in the not too distant future. Within a five to ten year timeframe there’s…
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REDI Global Technologies and S3 Partners have announced that they have teamed up to provide REDI’s clients with access to S3's BLACKLIGHT platform. Michael Rude, REDI's Chief Revenue Officer, said: This partnership with S3 Partners allows us to provide REDI users with an extremely valuable suite of treasury management data and reporting tools to support…
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On 8 September 2016, ASIC has banned Michael Spencer, formerly a financial adviser, from providing financial services for three years. ASIC has found that Mr Spencer engaged in manipulation of the price of three types of MINI warrants issued by Credit Suisse, commonly called "MINIs". MINIs are a type of derivative product traded on the…
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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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On November 21, 2016, the new Methodology of the Moscow Exchange Indices Calculation will come into force, the text of which was disclosed on the Moscow Exchange website on August 29, 2016. The methodology has been amended to include new provisions with regard to a liquidity factor. This factor has been added to the weighting…
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The Securities and Exchange Commission (SEC) has charged a former movie producer and self-proclaimed private equity executive with defrauding investors in hedge funds and using the money he stole to support his extravagant lifestyle. According to the SEC’s complaint, David R. Bergstein of Hidden Hills, California, stole millions from investors in 2011 and 2012 and…
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ASIC has accepted voluntary undertakings (VUs) from NSW based registered liquidators, Mr Riad Tayeh and Mr David Solomons, both of deVries Tayeh – DVT Group. ASIC’s ongoing industry wide project to test compliance with registered liquidators' obligations to lodge documents and publish notices required under the law continues to identify practitioners not complying with basic…
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Literally some several hours after Trump's shock victory, markets continue to react on the news. The pound dipped in and out of negative territory in volatile trade as the dollar recovered against a basket of currencies on Monday, but firmed in a remarkable snapback later on Thursday. Oil edged higher, Asian shares rallied on Thursday.…
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Following an ASIC investigation, Mr. Frederick Leslie Hansen, formerly of Clear Island Waters on the Gold Coast, has been sentenced in the Southport District Court to 4 years imprisonment. On 14 October 2016, Mr. Hansen pleaded guilty to two counts of dishonestly using his position as a director of Global Rule Pty Ltd and was…
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Europe based brokerage Admiral Markets announced that there have been some changes in the company's payment policy concerning the US dollar. As of 3 November 2016, the company's clients will no longer be able to deposit and withdraw in USD using Neteller payment system. Clients should refer to Admiral Markets' Deposits & Withdrawals section to…
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