Category: Financial Services

fma warns against unregulated company
July 19, 2018 BY Valentina Kirilova

NSSC issues a cease trade order against Ocean Links Investments

The Nova Scotia Securities Commission (NSSC) announced that it has issued a cease trade order against Ocean Links Investments Inc. The company, a Nova Scotia community economic development corporation, violated securities laws by failing to file continuous disclosure documents. The director of corporate finance ordered Ocean Links Investments Inc. to comply with Nova Scotia securities…

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fma warning
July 19, 2018 BY Valentina Kirilova

New Zealand FMA warns against MBI International or MFC Club

The Financial Markets Authority (FMA) has just issued a warning against a company called MBI International and/or MFC Club. Reason for warning: The FMA informed that it is concerned that a Malaysian based loyalty scheme, MBI International also trading as MFC Club (MFC Club) is being promoted in New Zealand. The regulator has received reports…

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July 19, 2018 BY Valentina Kirilova

Temenos Advisory's CEO charged with misleading retail investors

The Securities and Exchange Commission (SEC) announced that it has charged a Connecticut-based investment advisory firm and its chief executive officer with putting $19 million of investor money, including elderly investors’ retirement savings and pension plans, in risky investments and secretly pocketing hefty commissions from those investments. The SEC’s complaint alleges that Temenos Advisory Inc.…

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asic ban
July 19, 2018 BY Valentina Kirilova

ASIC suspends AFS license of SMSF financial adviser

Australian regulator ASIC announced that it has banned Queensland financial adviser James Cribb from providing financial services for four years and suspended his Australian financial services (AFS) license, held by Mode AFSL Pty Ltd (Mode), for 10 weeks. ASIC found that Mr Cribb failed to act in his clients' best interests when providing advice on…

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Shenzhen Stock Exchange
July 18, 2018 BY Valentina Kirilova

Shenzhen Stock Exchange launches Bond Pledge-style Tri-Party repo business

Shenzhen Stock Exchange (SZSE) and China Securities Depository and Clearing (CSDC) have officially released the Provisional Measures on Bond Pledge-style Tri-party Repo Transactions and Settlement (Provisional Measures) to further improve the mechanism for repo transactions and relevant services to market participants. Meanwhile, to elaborate on and specify relevant matters in the Provisional Measures, SZSE also…

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ESMA bond liquidity data
July 18, 2018 BY Valentina Kirilova

ESMA clarifies endorsement regime for non-EU credit ratings

The European Securities and Markets Authority (ESMA) has published today supplementary guidance on the application of the endorsement regime for non-EU credit ratings under the Credit Rating Agencies Regulation (CRAR). In order to ensure that third-country credit ratings, which are endorsed for use by EU investors, meet requirements which are at least as stringent as…

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SGX announces trading volumes
July 18, 2018 BY Valentina Kirilova

SGX welcomes Koufu Group Limited to Mainboard

Singapore Exchange (SGX) announced that it has welcomed Koufu Group Limited to its Mainboard under the stock code “VL6”. Started back in 2002, Koufu Group Limited is one of the most established operators and managers of food courts and coffee shops in Singapore, with a presence in Macau. Koufu has diversified revenue streams from its…

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sfc bans
July 18, 2018 BY Valentina Kirilova

Hong Kong SFC bans individual for 30 months

The Securities and Futures Commission (SFC) announced that it has banned Mr Poon Chun Hing from re-entering the industry for 30 months from 18 July 2018 to 17 January 2021. The disciplinary action follows an SFC investigation which found that in July 2015, Poon offered to invest for a friend, and agreed not only to…

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bscs warning
July 18, 2018 BY Valentina Kirilova

New Zealand FMA warns against Caxton Global company

The Financial Markets Authority (FMA) has just issued a warning against a  company called Caxton Global. Caxton Global Websites: www.caxtonglobal-fx.com, www.caxtonmarkets.com, www.caxtontrading.com and www.caxtonglobal-fx.net Reason for warning: The regulator is concerned that the websites (www.caxtonglobal-fx.com, www.caxtonmarkets.com, www.caxtontrading.com and www.caxtonglobal-fx.net) claim that Caxton Global is a registered financial service provider, authorised and regulated in New Zealand,…

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