Category: Financial Services

OSC
June 29, 2017 BY Valentina Kirilova

OSC approves no-contest settlement agreement with RBC Dominion Securities Inc., Royal Mutual Funds Inc. and more

The Ontario Securities Commission (OSC) announced that has approved a no-contest settlement agreement with RBC Dominion Securities Inc., Royal Mutual Funds Inc., and RBC Philips, Hager & North Investment Counsel Inc. (the RBC Registrants) in relation to a matter that the RBC Registrants discovered and self-reported to the OSC. This settlement follows allegations by OSC…

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June 29, 2017 BY Valentina Kirilova

Malaysia and Australia seal agreement on fintech cooperation

On 27 June 2017 the Malaysia Securities Commission (SC) and ASIC signed a Co-operation Agreement which provides a framework for cooperation to support and understand financial innovation in each economy. Malaysia is a vibrant fintech destination. In 2015, Malaysia became the first Asia Pacific nation to regulate for equity crowdfunding. High levels of digital adoption…

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Hong Kong SFC
June 29, 2017 BY Valentina Kirilova

Hong Kong SFC consults on new OFC Rules and OFC Code

The Securities and Futures Commission (SFC) announced that has launched a two-month consultation on the detailed legal and regulatory requirements applicable to the new open-ended fund company (OFC) structure. The OFC structure will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form. The consultation…

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SFC fines
June 28, 2017 BY LeapRate Staff

Marbury Advisors Inc and Tracy Lee Thomas hit with $4.4 million fine for fraudulently soliciting customers

The U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge Loretta C. Biggs of the U.S. District Court for the Middle District of North Carolina entered an Order of Final Judgment by Default against Defendants Tracy Lee Thomas (a/k/a Treyton L. Thomas, a/k/a Trayton L. Thomas, a/k/a Trey Thomas, a/k/a Tray Thomas, a/k/a T.L. Thomas), formerly…

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ESMA bond liquidity data
June 28, 2017 BY Valentina Kirilova

ESMA updates co-legislators on MIFID II implementation

The European Securities and Markets Authority (ESMA) shared that has sent a letter to the European Parliament, Commission and Council updating them on the implementation of ESMA’s IT projects regarding the Markets in Financial Instruments Directive (MiFID II). ESMA will deliver a specific IT infrastructure for the implementation of MiFID II on 3 January 2018.…

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Hong Kong SFC
June 28, 2017 BY Valentina Kirilova

Hong Kong SFC welcomes new CEPA agreements

The Hong Kong Securities and Futures Commission (SFC) announced that has welcomed the Investment Agreement and Agreement on Economic and Technical Cooperation under the framework of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) signed in Hong Kong today. The initiatives under the latest agreements will facilitate promotion and protection of investments between…

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fca warning
June 28, 2017 BY Valentina Kirilova

FCA warns against AIG Options / CMC Options 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 AIG Options / CMC Options. AIG Options / CMC Options is not authorised by the FCA but has been targeting people in the UK and is also…

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June 28, 2017 BY Valentina Kirilova

HKEX and CESC explore new Belt & Road Index initiative

Hong Kong Exchanges and Clearing Limited (HKEX) announced that has appointed China Exchanges Services Company Limited (CESC), a joint venture of HKEX, Shanghai Stock Exchange and Shenzhen Stock Exchange, to explore a Belt & Road Index in response to the market’s interest in a barometer for the Mainland’s Belt & Road Initiative. The index would…

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