The European Securities and Markets Authority (ESMA) has issued a statement updating on its work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors. ESMA is likely to look at enacting rules limiting leverage for Forex and CFD trading, banning of client bonuses, as well…
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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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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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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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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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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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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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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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ASIC announced that has restricted Axiom Mining Limited from issuing a reduced content prospectus until 28 March 2018. The decision means Axiom Mining will not be able to rely on reduced disclosure rules and must issue a full prospectus in order to raise funds from retail investors. ASIC's decision was based on information given to…
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The AMF and the ACPR are publishing a list of new websites and entities offering investments on the unregulated foreign exchange (Forex) market in France, without authorisation to do so. Here is the list of new websites recently identified: www.x90.com / X90 www.mt4invest.com / MT4 INVEST www.gss-fi.eu / GSS FINANCIAL www.boomforex.net / BOOM FOREX www.promfx.com…
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