The U.S. Securities and Exchange Commission is warning investors to beware of online “paid-to-click” scams that promise an easy payday by merely purchasing a membership or an advertising product up front and then clicking on a certain number of online ads each day. The SEC’s investor alert explains that these online advertising programs may have little…
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The Financial Conduct Authority (FCA) has contributed to the Payment Systems Regulator (PSR) paper on Authorised Push Payment Scams. This follows the Which? super-complaint regarding safeguards in the market for push payments. In December 2016, the FCA committed to identify if there were any firm-specific or sector-wide issues in the way banks handle authorised push…
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Ebury, a fintech specialist for corporate global transaction services, today announced their first office opening outside of Europe in Toronto Canada, to be led by Matthew Acton-Davis as Country Manager. This first Canadian office has been set up to support demand for international currency payments and collections, foreign exchange risk management and import finance solutions…
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The Hong Kong Securities and Futures Commission (SFC) has banned Mr Yeung Leung Yuen, a former relationship manager of Citibank (Hong Kong) Limited (Citibank), from re-entering the industry for three years for conducting unauthorized transactions in a client’s securities account (Yeung was a relevant individual engaged by Citibank to carry on Type 1 (dealing in…
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After having its ASIC license voided back in May of this year, Chinese owned and focused Retail FX broker GallopFX and its associated companies Gallop International Group Pty Ltd (GIG), Gallop Asset Management Pty Ltd (GAM) as well as controlling shareholder Mr Ming-Chien Wang have had their assets frozen in Australia. ASIC announced that it…
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The Commodity Futures Trading Commission (CFTC) today announced the filing and simultaneous settlement of charges against Cargill, Inc. (Cargill), of Minnesota, for providing mid-market marks (marks) that concealed from counterparties and its swap data repository (SDR) its full mark-up on certain swaps, in violation of the Commodity Exchange Act (CEA) and Commission Regulations. Specifically, the…
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Mr Lim Hng Kiang, Minister for Trade and Industry (Trade), and Deputy Chairman, Monetary Authority of Singapore (MAS), on behalf of Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of the Monetary Authority of Singapore, today moved the Payment and Settlement Systems (Finality and Netting) (Amendment) Bill (the “Bill”) for First Reading in…
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Hong Kong Exchanges and Clearing Limited (HKEX) announced today that Realtime Delivery versus Payment, or Real-time DVP, money settlement in Renminbi, Hong Kong dollars and US dollars will be introduced for the Northbound related transactions of Stock Connect, its mutual market access programmes with the Shanghai and Shenzhen stock exchanges, on 20 November 2017. Realtime…
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The Financial Conduct Authority (FCA) has today published its ‘FCA Mission – Our Future Approach to Consumers’. The complete text of the announcement can be seen below: When the FCA launched its Mission, it committed to publishing a series of documents that would explain its approach to regulation in more depth. The FCA’s Approach to…
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Hong Kong Exchanges and Clearing Limited (HKEX) has unveiled a new website for its Hong Kong markets today, introducing a fresh new look and enhanced functionality for website visitors. The new market website is completely rebuilt from the ground up with an entirely new back-end system and design that aligns with HKEX’s new corporate image…
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