The Court of First Instance has ordered Starlight Culture Entertainment Group Limited’s (Starlight) former chairman Mr Tong Shek Lun and two former executive directors, Ms Kinny Ko Lai King and Ms Regina Chung Wai Yu, to pay a sum of US$890,241.37 as compensation to Starlight following findings of misconduct in connection with their handling of…
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The Financial Conduct Authority (FCA) announced that it has today imposed a fine of £1,976,000 on credit card lender, Vanquis, for failing to disclose the full price of an add-on product, called Repayment Option Plan (ROP). The firm will also repay an estimated £168,781,000 in compensation which constitutes the amount of the charges not disclosed…
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The Financial Markets Authority (FMA) announced that it has filed criminal charges against a company and its New Zealand-based director for breaching the Financial Service Providers (Registration and Dispute Resolution) Act (FSP Act). The company is charged with two counts of breaching section 12 of the FSP Act. The New Zealand-based director is charged with…
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Franklin Templeton just announced that it has accessed the Swiss market as ETF issuer with five smart beta ETFs for which Susquehanna is acting as a market maker and providing the liquidity. The five smart beta ETFs newly tradable as of today. They provide investors additional opportunities to diversify their portfolio with European as well…
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The Stock Exchange of Thailand (SET) and market participants have confirmed their readiness to move toward the T+2 settlement cycle (T+2) on March 2, 2018, after successfully completed all preparation. SET has become one of the leading exchanges in ASEAN to move toward the T+2 cycle. This will align the operational process with international practice…
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Later this year, the Financial Conduct Authority (FCA) informed that it will consult on proposals to make information available on a wider range of individuals at authorised firms. The FCA and Prudential Regulation Authority (PRA) currently maintain a public Financial Services Register, “the FS Register”, of the firms they regulate and the individuals they have…
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The Securities and Futures Commission (SFC) announced that it has entered into an agreement with the Swiss Financial Market Supervisory Authority (FINMA) to establish a framework for cooperation on financial technology (Fintech). Under the agreement, the SFC and FINMA will cooperate to share information on emerging Fintech trends, developments and related regulatory issues as well…
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ASIC announced that it has applied to the Federal Court of Australia for the appointment of a liquidator to Superfunded Pty Ltd, a WA-based company that encouraged customers to set up self-managed super funds. In particular, ASIC alleges that Superfunded in encouraging customers to set up self-managed super funds: by itself or through its officer…
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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 website solidcfd.com. solidcfd.com is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…
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Securities & Investment Company UAE (SICO UAE) announced that it has joined Nasdaq Dubai’s derivatives market as a Member, in order to provide its clients with new opportunities to take positions on regional share markets. The move is the latest step in a regional expansion programme by Bahrain-based SICO. This has also included SICO UAE…
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