Category: Financial Services

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…

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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…

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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…

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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…

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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…

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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…

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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…

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April 24, 2018 BY Valentina Kirilova

Nigerian Stock Exchange signs MoU with RecyclePoints Limited

The Nigerian Stock Exchange (NSE) has announced that it has signed a Memorandum of Understanding (MoU) with RecyclePoints Limited for the collection and recycling of waste materials generated at The Exchange’s offices. This initiative is also a demonstration of the Exchange’s effort to ‘End Plastic Pollution’, which is the theme of this year’s Earth Day,…

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April 24, 2018 BY Valentina Kirilova

SFC fines CN Capital Management Limited $1.2 million over regulatory breaches

The Hong Kong Securities and Futures Commission (SFC) announced that it has reprimanded CN Capital Management Limited (CN Capital) and fined it $1,000,000 for failing to maintain an effective compliance function and satisfactory internal controls concerning employee account dealing. The SFC has also reprimanded its responsible officers, Mr George Chan Yee Lee and Mr Stephen…

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