Category: Financial Services

Regulation
July 17, 2017 BY Valentina Kirilova

ASIC consults on proposed financial benchmark regulatory regime

ASIC announced that is seeking feedback on proposed ASIC rules for the administration of licensed financial benchmarks and regulatory guidance on how we would administer the proposed financial benchmark regulatory regime. The Government is currently consulting on draft legislation to implement financial benchmark regulatory reform. ASIC's consultation is about the licensing regime for administrators of…

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clone firm FCA warning
July 17, 2017 BY Valentina Kirilova

FCA warns against Low Rate Loans clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Low Rate Loans. 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 their tactics…

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nasdaq
July 14, 2017 BY Valentina Kirilova

Nasdaq Stockholm fines Skandinaviska Enskilda Banken SEK 3,105,000

After imposing a fine on CybAero amounting to three annual fees just yesterday, the Disciplinary Committee of Nasdaq Stockholm announced that has found that Skandinaviska Enskilda Banken AB (SEB) has breached Nasdaq Stockholm’s Rule Book for Issuers (“the Rule Book”) and, accordingly, has ordered SEB to pay a fine of one annual fee, corresponding to…

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July 14, 2017 BY Valentina Kirilova

SIX Exchange Regulation reaches an agreement with Perfect Holding SA

SIX Exchange Regulation announced that has reached an agreement with Perfect Holding SA in connection with a breach of the accounting standards (IFRS) in the 2016 interim financial statements. The identified deficiency relates to the translation of goodwill arising from the acquisition of a foreign operation. As part of the agreement, the company has committed…

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July 14, 2017 BY Valentina Kirilova

ASIC’s cost recovery framework finalised

ASIC’s cost recovery framework has been finalised, incorporating changes made after broad industry consultation. The framework, outlined in Report 535 ASIC cost recovery arrangements: 2017-18, identifies industry sectors and provides a methodology for how the levies will be calculated. As a result of legislation passed on 15 June 2017, industry funding will see regulated entities…

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