Category: Financial Services

WFE World Federation of Exchanges
November 22, 2017 BY Valentina Kirilova

WFE publishes position paper on international regulatory dissonance

The World Federation of Exchanges (WFE), which represents more than 200 market infrastructure providers including exchanges and CCPs, has today published a position paper discussing the implications of international regulatory dissonance, supported by a series of policy recommendations to promote better regulatory coherence. ​Despite efforts to coordinate post-crisis financial regulatory reforms at the G20 level,…

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London Stock Exchange Group ELITE
November 22, 2017 BY Valentina Kirilova

LSEG's ELITE welcomes 21 new international companies

London Stock Exchange Group (LSEG) announced that it today welcomes 21 new international companies to its successful global business support and capital raising ecosystem, ELITE. This brings the total number of companies in the ELITE community to over 680. Luca Peyrano, CEO, ELITE, welcomed the new ELITE CEOs alongside Ernesto Somma, Professor and Chief of…

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November 22, 2017 BY Valentina Kirilova

STOXX expands its footprint in Asia

STOXX Ltd., the operator of Deutsche Boerse Group’s index business, and a global provider of innovative and tradable index concepts, announced that it is expanding its footprint in the Asia-Pacific region as smart beta strategies are gaining the interest of Asian investors. A passive index fund – with the iSTOXX MUTB Asia/Pacific Quality Dividend 100…

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fca warning
November 22, 2017 BY Valentina Kirilova

FCA warns against fake regulator Federal Financial Regulatory Board

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 fake regulator Federal Financial Regulatory Board. Federal Financial Regulatory Board is not authorised by the FCA but has been targeting people in the UK and is also…

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Regulation
November 22, 2017 BY Valentina Kirilova

ASIC obtains orders against DanFX Trade Pty Ltd

On 14 November 2017, the Supreme Court appointed Anthony Castley of William Buck as receiver and manager over the assets of DanFX Trade Pty Ltd, Daniel Farook Ali and associated entities. Freezing orders were also made restraining the disposal of any property (including money and securities) by Mr Ali, DanFX Trade, DanFX Investments Holdings Pty…

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November 22, 2017 BY Valentina Kirilova

FINRA fines J.P. Morgan Securities LLC $1.25 million

The Financial Industry Regulatory Authority (FINRA) today announced it has fined J.P. Morgan Securities, LLC $1.25 million for failing to conduct timely or adequate background checks on approximately 8,600, or 95 percent, of its non-registered associated persons from January 2009 through May 2017. Federal securities laws require broker-dealers to fingerprint certain associated persons working in…

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Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks
November 22, 2017 BY Valentina Kirilova

Long Island town and former top official charged with defrauding municipal investors

The Securities and Exchange Commission (SEC) informed that it has charged Oyster Bay, New York, and its former top elected official with defrauding investors in the town’s municipal securities offerings by hiding the existence and potential financial impact of side deals with a businessman who owned and operated restaurants and concession stands at several town…

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November 22, 2017 BY Valentina Kirilova

HSBC Private Bank (Suisse) SA fined HK$400 million for systemic failures in selling structured products

HSBC Private Bank (Suisse) SA, the Hong Kong branch of the Switzerland-based private banking business of HSBC Group, has been fined a record sum of HK$400 million after the Securities and Futures Appeals Tribunal (SFAT) upheld the Hong Kong SFC’s disciplinary action against the bank for material systemic failures in relation to the sale of…

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asic afs license
November 22, 2017 BY Valentina Kirilova

ASIC cancels AFS license of Financial Stewards Pty Ltd

ASIC informed that it has cancelled the Australian financial services (AFS) license of Financial Stewards Pty Ltd (Financial Stewards) for failing to co-operate with an ASIC surveillance. ASIC issued two compulsory notices to Financial Stewards as part of a surveillance. Financial Stewards failed to respond to the Notices or to ASIC's correspondence. In addition, ASIC…

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