Category: Financial Services

July 31, 2018 BY Valentina Kirilova

FINRA requests comment on fintech innovation in the broker-dealer industry

FINRA has issued a Special Notice seeking comment on how it can support financial technology (fintech) innovation consistent with its mission of investor protection and market integrity. The announcement builds on an initiative FINRA launched last year to improve communication with the securities industry around fintech. In addition, FINRA requests comment on certain fintech areas,…

Read more
Financial pundits warning that 2020 will be “The Year of the Next Big One”
July 31, 2018 BY Valentina Kirilova

ASIC approves the Banking Code of Practice

Australian regulator ASIC has informed that it has approved the Australian Banking Association’s (ABA’s) new Banking Code of Practice (the Code). ASIC’s approval of the Code follows extensive engagement with the ABA, following a comprehensive independent review and extensive stakeholder consultation. The ABA made additional significant changes to the Code in order to satisfy ASIC…

Read more
Euronext
July 30, 2018 BY Valentina Kirilova

AudioValley just listed on Euronext Growth market

AudioValley, a pioneer in BtoB digital audio, has just been listed on the Euronext Growth market in Paris. Founded in 2003, AudioValley is a Belgian company with three business divisions, all in digital audio: Radionomy, a digital radio audience aggregation and monetisation solution; Storever, a one-stop shop in audio and video point-of-sale broadcasting solutions; and…

Read more
ESMA bond liquidity data
July 30, 2018 BY Valentina Kirilova

ESMA finds shortcomings in national supervision of efficient portfolio management by UCITS

The European Securities and Markets Authority (ESMA) has informed that it has found that national regulators need to improve their supervision of Undertakings for Collective Investments in Transferable Securities (UCITS) engaging in efficient portfolio management techniques (EPM). A recent peer review by ESMA, which assessed the level of compliance of six national competent authorities (NCAs)…

Read more
SGX announces trading volumes
July 30, 2018 BY Valentina Kirilova

SGX welcomes Silkroad Nickel Ltd to Catalist

Singapore Exchange (SGX) has just announced that it has today welcomed Silkroad Nickel Ltd to its Catalist under the stock code “STP”. Silkroad Nickel Ltd is primarily in the business of exploration, mining, production and sale of nickel ore. Based in Indonesia, the group has the mining business licence to carry out nickel ore mining…

Read more
Hong Kong SFC
July 30, 2018 BY Valentina Kirilova

SFC implements open-ended fund companies regime

The Hong Kong Securities and Futures Commission (SFC) has announced the implementation of the new open-ended fund companies (OFC) regime with effect from 30 July 2018. This will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form. The Code on Open-ended Fund Companies and…

Read more
fca warning
July 30, 2018 BY Valentina Kirilova

FCA warns against Lindmand Group firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Lindmand Group. Lindmand Group is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…

Read more
July 30, 2018 BY Valentina Kirilova

SEC charges recidivist in stock manipulation scheme

The Securities and Exchange Commission (SEC) has informed that it has charged Howard M. Appel with manipulating the stocks of three microcap companies while on supervised release following his criminal conviction for a prior securities fraud. According to the SEC’s complaint, Appel orchestrated multiple schemes to manipulate the market for trading in shares of Virtual…

Read more
Spanish Stock Market BME Bolsa de Madrid
July 27, 2018 BY Valentina Kirilova

BME releases €71.3M net profit in H1 2018, 11% lower YoY

The Spanish Stock Market Bolsa de Madrid (BME)’s net profit for the first half of 2018 totalled 71.3 million euros while in the second quarter of the year it reached 33.4 million euros, down 11.2% and 18.4 year-on-year respectively. The result is 11.2% lower year-on-year Net profit in the second quarter came in at 33.4…

Read more