Following a commitment to further review their small business loan contracts, the big four banks have now agreed to specific changes with ASIC to eliminate unfair terms from their contracts. ASIC and the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) have welcomed the changes, which mean that: the loan documents will not contain 'entire…
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Hong Kong Exchanges and Clearing Limited (HKEX) and the People's Government of Sichuan Province (Sichuan Provincial Government) announced that have signed a Memorandum of Understanding (MOU) to strengthen mutual communication and cooperation, aiming to support and promote future development in both capital and commodities markets. The MOU was signed by Mao Zhirong, HKEX Head of…
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The Securities and Exchange Commission (SEC) announced that a municipal financing authority in Beaumont, California, and its then-executive director have agreed to settle charges that they made false statements about prior compliance with continuing disclosure obligations in five bond offerings. Also settling charges are the underwriting firm behind those offerings and its co-founder for failing…
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The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action against defendants Thomas Lanzana (doing business as Unique Forex) currently of Pawleys Island, South Carolina and his company Blackbox Pulse, LLC of North Bergen, New Jersey, as well as Nikolay Masanko and his company White Cloud Mountain, LLC, both of St. Augustine, Florida, charging…
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The Eastern Magistrates’ Court today convicted Fonia Kwok Lai Kwan of carrying on a business in asset management trading under the name of Finamics Capital Management (Finamics) and Lawrence Ho Man Chung of performing a regulated function in relation to the asset management of Finamics without licences from the Hong Kong Securities and Futures Commission…
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ASIC has today outlined its approach and broader vision for working with small business with the launch of its Small Business Strategy 2017-2020. Speaking at the National Small Business Summit in Melbourne, ASIC Commissioner John Price said: ASIC's Small Business Strategy has been developed to explain the work we are doing to support small business.…
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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 Bembridge Assurance. Bembridge Assurance is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
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Belgium financial regulator FSMA has issued a statement regarding the settlement it reached with AVA TRADE EU Ltd and ICFD Ltd. The agreed settlements consist of a payment of EUR 175,000 by AVA TRADE EU Ltd, EUR 200,000 by iCFD Ltd and publication by name on the website of the Financial Services and Markets Authority…
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The National Securities Market Commission (CNMV) published the following list of warnings reported on unregistered entities that were received through international supervisors (in this case – the UK financial regulator Financial Conduct Authority (FCA)): CDN Law Firm, operating at www.cdnlawfirm.com Ashton Moore Developments/ Ashton Moore, operating at www.AshtonMooreDevelopments.com FXCM International Finance Group clone firm For…
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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 Atsuko Ventures. Atsuko Ventures is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
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