The Financial Conduct Authority (FCA) has today published the final findings of its asset management market study and announced the package of remedies it will take forward to address the concerns identified in its interim report into the sector. Andrew Bailey, Chief Executive at the FCA said: The asset management sector is important to the…
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The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Huafu HK Co. Ltd. (Huafu), a corporation based in Hong Kong, for failing to file CFTC Form 304 reports, reporting its call cotton purchases and sales when it held or controlled at least 100 cotton futures positions. The CFTC…
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ASIC announced that has disqualified Neil Wilson of Victoria from being an approved self-managed superannuation fund (SMSF) auditor. ASIC determined that Mr Wilson had breached fundamental independence and audit requirements. Given the nature of these breaches, it was considered appropriate to disqualify Mr Wilson. ASIC found that Mr Wilson had breached: Auditor independence requirements of…
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The Financial Stability Board (FSB) announced that has been analysing the potential financial stability implications from FinTech with a view to identifying supervisory and regulatory issues that merit authorities’ attention. Ten areas have been identified, of which the following three are seen as priorities for international collaboration: the need to manage operational risk from third-party…
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The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) today published conclusions on a joint consultation paper which proposed adjusting the scope of “OTC derivative product” under the over-the-counter (OTC) derivatives regulatory regime. The proposed adjustments were to: prescribe certain additional markets and clearing houses so that products traded and cleared…
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Vapiano SE (ISIN: DE000A0WMNK9) has been listed in the Prime Standard at the Frankfurt Stock Exchange as as of today. The issue volume of the IPO was around €184 million. The first price was €23.95, the issue price €23.00. The IPO was accompanied by Barclays Bank, Joh. Berenberg, Gossler & Co. and Jeffer-ies International with…
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CBOE Holdings, Inc. (NASDAQ: CBOE) announced today that it priced an underwritten public offering of $300 million of its 1.950% Senior Notes due 2019. The offering is expected to close on June 29, 2017, subject to the satisfaction of customary closing conditions. CBOE Holdings estimates that the net proceeds from the offering will be approximately…
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The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) announced that has published today its final Guidelines on anti-money laundering and countering the financing of terrorism (AML/CFT). The Guidelines promote a common understanding of the risk-based approach to AML/CFT and set out how it should be applied. These Guidelines…
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Westpac Banking Corporation has paid a penalty of $127,250 to comply with an infringement notice (Infringement Notice) given to it by ASIC. The infringement notice was issued in response to an alleged breach of the ASIC Derivative Transactions (Reporting) Rules 2013 (ASIC Rules) during the period from 2 October 2013 to 30 April 2015. This…
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The U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge J. Paul Oetken of the U.S. District Court for the Southern District of New York entered an Opinion and Order (Order) against Defendants Gary Creagh and Wall Street Pirate Management, LLC (Wall Street Pirate), both of New York, New York. The Order, entered on…
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