Category: Financial Services

SFC fines
February 22, 2019 BY Valentina Kirilova

Tulving Company fined $15.8m, Director with a lifetime trading ban

The U.S. Commodity Futures Trading Commission (CFTC) revealed that U.S. District Court Judge Robert J. Conrad Jr. of North Carolina’s Western District had agreed to a Supplemental Order against Californian Resident Hannes Tulving and his firm The Tulving Company, Inc., on charges that they solicited customers on fraudulent claims related to precious metals trading, after…

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Hong Kong SFC
February 22, 2019 BY Valentina Kirilova

Hong Kong SFC updates listing rules protecting investors

The Hong Kong Securities and Futures Commission (SFC) released the current issue of its SFC Regulatory Bulletin: Listed Corporations, which included an update on how it will execute its authority as stipulated in the Securities and Futures (Stock Market Listing) Rules to protect investors. The dispatch outlined some of the recent steps taken by the…

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sec
February 21, 2019 BY Valentina Kirilova

ASIC applauds the enactment of stronger whistleblowing laws

The Australian Securities and Investments Commission (ASIC) issued a statement applauding the enactment of the Treasury Laws Amendment (Enhancing Whistleblower Protections) Bill 2018 by Parliament on 19 February 2019. According to the new laws: The definition of a whistleblower now includes former and current employees, contractors and officers as well as their spouses and children.…

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Deutsche Börse
February 21, 2019 BY Valentina Kirilova

Deutsche Börse launches ETF trading costs tracker

Deutsche Börse has today launched a new crucial indicator for ETF investors known as iXLM (intraday Xetra liquidity measure), which displays the changes in an ETF’s trading costs during the trading session each day. The new indicator will allow investors to pinpoint period when the costs of trading an ETF were at their lowest so…

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sec charges
February 21, 2019 BY Valentina Kirilova

Spartan Securities Group and Island Capital Management charged with bogus companies’ fraud

The U.S. Securities and Exchange Commission (SEC) opened charges against Spartan Securities Group, Ltd., a broker-dealer, and Island Capital Management LLC, a transfer agent, which also operates as Island Stock Transfer, for creating and selling a minimum of 19 bogus public companies. The scheme was initiated by Spartan Securities, which filed documents with the Financial…

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FCA warning
February 21, 2019 BY Valentina Kirilova

FCA imposes first fines on anti-competitive behavior

The UK’s Financial Conduct Authority (FCA) today made a decision using its powers to enforce competition laws by ruling that three asset management companies violated competition law. The ruling as made against the following firms: River and Mercantile Asset Management LLP (RAMAM) Newton Investment Management Limited Hargreave Hale Ltd The FCA imposed a £306,300 fine…

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TMX Group
February 20, 2019 BY Valentina Kirilova

TMX joins UN Sustainable Stock Exchanges initiative

The TMX Group (TSX:X) today revealed that the Toronto Stock Exchange and its peer the TSX Venture Exchange are now part of the United Nations Sustainable Stock Exchanges (SSE) program to further sustainability and transparency within capital markets. The new partnership will allow the TMX Group to engage in dialogue with its peers on how exchanges…

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February 20, 2019 BY Valentina Kirilova

SEC votes for the full adoption of a pilot modernization program to all issuers

The US Securities and Exchange Commission (SEC) has voted in favor of expanding its pilot program on the modernization of allowing investors to share their opinions regarding potential offerings at a much earlier stage than the current one. According to the provisions of the new rule and its amendments, the "test-the-waters" accommodation currently used by emerging growth…

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warning
February 20, 2019 BY Valentina Kirilova

Canadian regulator BCSC warns against ICG International Commodities Group

Canadian securities regulator the British Columbia Securities Commission (BCSC) issued a warning today against a suspicious entity named ICG International Commodities Group. ICG International Commodities Group (ICG) operates via the website www.i-c-g.it and claims to be a full-service trading and consulting firm, specializing in the commodities markets. The company also claims to have an office…

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cysec cif license
February 19, 2019 BY Valentina Kirilova

CySEC issues warning against unregulated websites

Cyprus financial regulator CySEC has just made an announcement regarding several unregulated websites. The websites below do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities: www.stm-fx.com www.jennocrypto.com bitoptionfx.com CySEC has repeatedly urged investors to consult its official website before conducting…

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