Category: Financial Services

asic bans
September 29, 2017 BY Valentina Kirilova

ASIC bans former financial adviser for forgery

The Australian Securities and Investment Commission (ASIC) announced that has permanently banned financial adviser Koresh Daniel Houghton from providing financial services because he had engaged in misleading, deceptive and dishonest conduct and failed to act in his clients' best interests when providing advice. ASIC's surveillance of Mr Houghton found that he: had created false documents…

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clone firm FCA warning
September 29, 2017 BY Valentina Kirilova

FCA warns against AMAC Mortgages & Loan Ltd clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm AMAC Mortgages & Loan Ltd. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of…

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September 29, 2017 BY Valentina Kirilova

ULLINK targets Mexico with support for new BIVA Exchange

ULLINK, a global provider of electronic trading and connectivity solutions to the financial community, announced today that it has completed development and successful order routing tests for a new market access gateway to the Bolsa Institucional de Valores (BIVA) in Mexico. The new gateway provides ULLINK customers with electronic access to trade all the securities…

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fca warning
September 29, 2017 BY Valentina Kirilova

FCA warns against Myfinance 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 firm Myfinance. Myfinance 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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September 29, 2017 BY Valentina Kirilova

HKEX criticises China Environmental Energy Investment Ltd for breaching the Listing Rules

The China Environmental Energy Investment Ltd's failure to comply with the announcement, circular and prior shareholders' approval requirements of the HKEX Listing Rules has deprived the investors of their right to the timely receipt of information in relation to the Company's major transactions, and for shareholders, their right to vote on those transactions before they…

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Morgan Stanley fine
September 29, 2017 BY Valentina Kirilova

CFTC fines Morgan Stanley & Co. LLC. $500,000 for supervision failures

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Morgan Stanley & Co. LLC (MSCO) (NYSE:MS), a Delaware limited liability company headquartered in New York City, for failing to diligently supervise the reconciliation of exchange and clearing fees with the amounts it ultimately charged customers for certain transactions…

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September 29, 2017 BY Valentina Kirilova

Hong Kong SFC announces launch of SFC Regulatory Sandbox

The Hong Kong Securities and Futures Commission (SFC) today issued a circular announcing the launch of the SFC Regulatory Sandbox to provide a confined regulatory environment for qualified firms to conduct regulated activities utilising financial technologies (Fintech). The sandbox aims to enable qualified firms, through close dialogue with and supervision by the SFC, to identify…

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DFSA
September 29, 2017 BY Valentina Kirilova

SEC charges Alexander Capital L.P. brokers defrauding customers

The Securities and Exchange Commission (SEC) announced that has charged three New York-based brokers with making unsuitable recommendations that resulted in substantial losses to customers and hefty commissions for the brokers. One of the brokers agreed to pay more than $400,000 to settle the charges. Brokers must make recommendations that are compatible with their customers’…

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