Civil action filed against Michael Salerno and his companies for LinkedIn-based Retail Forex fraud LeapRate

April 26, 2018 BY LeapRate Staff

Civil action filed against Michael Salerno and his companies for LinkedIn-based Retail Forex fraud

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action charging Defendants Michael Salerno of Chadds Ford, Pennsylvania, and his companies Black Diamond Forex LP and BDF Trading LP, both Pennsylvania limited partnerships, and Advanta FX, a Pennsylvania corporation, with fraudulently soliciting members of the public to become foreign currency (forex) proprietary traders and…

April 26, 2018 BY Valentina Kirilova

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

April 26, 2018 BY Valentina Kirilova

ASIC releases guidance on AFS licensing exemption for tax and BAS agents

The Australian Securities and Investments Commission (ASIC) has announced that it has updated its guidance for accountants who provide services on self-managed superannuation funds (SMSFs) to cover the exemption from the Australian Financial Services (AFS) licensing requirements for tax and BAS agents. The guidance was developed in conjunction with the Tax Practitioners Board and is…

April 25, 2018 BY Valentina Kirilova

FCA warns against Max Montgomerie Debt Recovery & Investigations 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 Max Montgomerie Debt Recovery & Investigations. Max Montgomerie Debt Recovery & Investigations is not authorised by the FCA but has been targeting people in the UK…

April 25, 2018 BY Valentina Kirilova

Bursa Malaysia's profit up 13% YoY in 1Q 2018

Bursa Malaysia Berhad announced that it has registered a Profit After Tax and Minority Interest (PATAMI) of RM63.8 million for the first quarter ended 31 March 2018 (“1Q2018”), an increase of 12.6% from RM56.6 million reported in the previous first quarter ended 31 March 2017 (1Q2017), and an increase of 15.4% compared to the preceding…

April 25, 2018 BY Valentina Kirilova

Moscow Exchange launches Light Sweet Crude Oil futures

Moscow Exchange (MOEX) has just announced that it will launch a Light Sweet Crude Oil futures contract and futures-style options on the futures to facilitate investment in global commodity instruments by Russian participants and their clients. This will happen on 25 April 2018. Igor Marich, Managing Director of the Money and Derivatives Markets at Moscow…

April 24, 2018 BY LeapRate Staff

Yahoo! Russia hack results in $35 million fine for parent Altaba

The U.S. Securities and Exchange Commission (SEC) has announced that the entity formerly known as Yahoo! Inc. has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the world’s largest data breaches in which hackers stole personal data relating to hundreds of millions of…

April 24, 2018 BY Valentina Kirilova

Marek Dietl reelected President of Warsaw Stock Exchange Board

The Extraordinary General Meeting of the Warsaw Stock Exchange (GPW) has appointed Marek Dietl as President of the Exchange Management Board for a new term of office On 23 April, the Extraordinary General Meeting passed a resolution under the agenda item concerning changes to the Management Board, tabled by request of the State Treasury which…

April 24, 2018 BY Valentina Kirilova

MiFID II reducing volume & quality of research on small and mid-size companies

Following the implementation of MiFID II in January 2018, a new survey reveals that UK fund managers believe the more stringent financial regulations are having a detrimental impact on small and mid-size quoted companies, both in terms of their research coverage and liquidity in their shares. According to the survey of 100 UK-based fund managers,…

April 24, 2018 BY Valentina Kirilova

Brexit: What does it mean for financial markets to be open?

Andrew Bailey, Chief Executive of the UK's Financial Conduct Authority (FCA) has today given a speech at the City Week ‘The International Financial Services Forum’, Guildhall, London, regarding Brexit, UK and EU authorities, and more. Highlights of it include: Now is the time for the UK and EU authorities to come together and work on…

Category: Financial Services