Category: Financial Services

Foster Stockbroking IPO conflict
November 24, 2017 BY LeapRate Staff

Foster Stockbroking called out by ASIC for IPO conflict of interest

Australia financial regulator ASIC has announced that it has accepted an enforceable undertaking from Foster Stockbroking Pty Limited (FSB) over the stockbroker's capital markets and research businesses, following an ASIC investigation into conflicts of interest. FSB is an Australian financial services licensee based in Sydney that provides investment banking and traditional stockbroking (including research) services…

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Paxful launches wallet app, releases a series of educational workshops in Africa
November 23, 2017 BY Valentina Kirilova

Nasdaq Dubai and Nairobi Securities Exchange sign MoU to support creation of Sukuk sector in Kenya

Nasdaq Dubai and The Nairobi Securities Exchange have signed a Memorandum of Understanding (MoU) to facilitate the creation of a Sukuk sector in Kenya. No Sukuk has been issued in the East African region; however the Kenyan government has previously made known its intention to raise funds through issuance of Sukuk, including making necessary amendments…

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fca warning
November 23, 2017 BY Valentina Kirilova

FCA warns against MBQ International Incorporated 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 MBQ International Incorporated. MBQ International Incorporated is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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IOSCO issues statement on liquidity risk management recommendations for investment funds
November 23, 2017 BY Valentina Kirilova

IOSCO Good Practices for the Termination of Investment Funds seek to protect investors

The Board of the International Organization of Securities Commissions (IOSCO) has today published 14 good practices on the voluntary termination of investment funds that seek to protect investors’ interests during the termination process. In its final report titled IOSCO Report on Good Practices for the Termination of Investment Funds, IOSCO highlights the importance for investment…

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cysec cif licence suspension
November 23, 2017 BY Valentina Kirilova

CySEC to suspend its Fast Track Examination CIF licensing scheme

The Cyprus Securities and Exchange Commission (CySEC) has just informed that it decided to suspend the ‘fast track’ examination scheme (the ‘Scheme’) for the assessment of applications for granting a Cyprus Investment Firm authorisation in accordance with Section 21 of the Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007). The CySEC…

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sfc bans
November 23, 2017 BY Valentina Kirilova

Hong Kong SFC fines a former account executive of Fulbright Securities Ltd and bans him for life

The Securities and Futures Commission (SFC) has banned Mr Danny Fung Kwong Shing, a former account executive of Fulbright Securities Limited (Fulbright Securities), from re-entering the industry for life and fined him $542,071. The disciplinary action follows an SFC investigation which found that between January 2013 and May 2014, Fung had: conducted 772 unauthorized transactions…

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November 23, 2017 BY Valentina Kirilova

Dubai and Australia seal agreement on fintech cooperation

The Dubai Financial Services Authority (DFSA) and ASIC today signed a Cooperation Agreement which provides a framework for cooperation to support and understand financial innovation in each jurisdiction. The DFSA regulates the Dubai International Financial Centre (DIFC). Dubai has recently set up a number of initiatives aimed at encouraging fintech innovation, including the 'FinTech Hive'…

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