SFC fines Noah Holdings Limited HK$5 million for regulatory breaches LeapRate

May 29, 2018 BY Valentina Kirilova

SFC fines Noah Holdings Limited HK$5 million for regulatory breaches

The Hong Kong Securities and Futures Commission (SFC) announced that it has publicly reprimanded and fined Noah Holdings (Hong Kong) Limited (Noah HK) HK$5 million over Noah HK’s internal system and control failures in its sale and distribution of investment products. In particular, Noah HK had failed to comply with various regulatory requirements on know-your-client,…

May 29, 2018 BY Valentina Kirilova

New Zealand FMA warns against Coin City Limited

The Financial Markets Authority (FMA) has just issued a warning to a company called Coin City Limited. Coin City Limited Website: www.coincity.co.nz The FMA has recommended exercising caution before dealing with website www.coincity.co.nz as it has the characteristics of a scam. The website www.coincity.co.nz is not associated with, nor an authorised representative of the New…

May 29, 2018 BY Valentina Kirilova

FCA warns against Get Financial 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 Get Financial. Get Financial is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…

May 29, 2018 BY Valentina Kirilova

ESMA publishes final guidelines on MiFID II suitability requirements

The European Securities and Markets Authority (ESMA) informed that it has published its Final Report on Guidelines on certain aspects of the MiFID II suitability requirements. The assessment of suitability is one of the most important requirements for investor protection in the MiFID framework. It applies to the provision of any type of investment advice,…

May 29, 2018 BY Valentina Kirilova

MAS improves transparency on short selling activities in Singapore

The Monetary Authority of Singapore (MAS) has announced that it will require investors to report their short positions and short sell orders in securities listed on the Singapore Exchange (SGX), with effect from 1 October 2018. This will improve transparency on short selling activities in the securities market and enable investors to make more informed…

May 28, 2018 BY Valentina Kirilova

GDC deploys Itiviti’s solution for options market making in China

Itiviti and ULLINK, the recently merged global provider of multi-asset trading technology and financial infrastructure, have just announced that Galaxy Derivatives Company (GDC) has implemented Itiviti’s trading solution for options market making on Zhengzhou Commodity Exchange (ZCE) and Dalian Commodity Exchange (DCE). Since 2015, Galaxy Futures Co. Ltd. and Itiviti have co-operated to provide high-speed…

May 28, 2018 BY Valentina Kirilova

FCA warns against Golden Markets 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 Golden Markets. Golden Markets is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…

May 28, 2018 BY Valentina Kirilova

ASIC cancels registration of Victorian auditor

The Australian Securities and Investments Commission (ASIC) has just announced that it has cancelled the registration of Victorian auditor, Philip James Dowsley, as a registered company auditor. Mr Dowsley requested the cancellation during the course of proceedings brought by ASIC before the Companies Auditors Disciplinary Board (CADB). The cancellation took effect on 31 March 2018. ASIC…

May 28, 2018 BY Valentina Kirilova

MAS issues statement of commitment to the FX Global Code

The Monetary Authority of Singapore (MAS) announced that it has issued a statement affirming its commitment to the Foreign Exchange Global Code (Code) developed by the Bank for International Settlements (BIS). MAS will adhere to the principles of the Code when acting as a market participant and ensure that its internal practices and processes are…

May 28, 2018 BY Valentina Kirilova

FCA warns against Menden Hall Law Office

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 Menden Hall Law Office. Menden Hall Law Office is not authorised by the FCA but has been targeting people in the UK and is also carrying…

Category: Financial Services