Category: Financial Services

Shenzhen Stock Exchange publicly denounces Changsheng Bio-technology
May 23, 2017 BY Valentina Kirilova

Shenzhen Stock Exchange releases guideline for information disclosure of civil engineering to deepen industry regulation

In order to further regulate the information disclosure of listed companies engaging in civil engineering and construction industry, Shenzhen Stock Exchange (SZSE) has recently formulated and released the No. 7 Guideline of Shenzhen Stock Exchange for Industry Information Disclosure of Listed Companies Engaging in Civil Engineering and Construction Business. In recently years, SZSE has been…

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May 23, 2017 BY Valentina Kirilova

Colt to offer new low-latency network route between stock exchanges in Tokyo and Chicago

Colt Technology Services has announced newly optimised low-latency network routes linking stock exchanges in Tokyo and the Chicago Mercantile Exchange, which will be available from May 23, 2017. Connectivity will be provided through the company's private Ethernet-based Colt IQ Network. Latency between Tokyo and Chicago will reach a speed of 121.07ms between each endpoint after…

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SFC fines
May 23, 2017 BY LeapRate Staff

Futures trading system developer Kimball Parker and his MakeYourFuture LLC pay $1.2 million in fraud case

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Bruce S. Jenkins in the U.S. District Court for the District of Utah entered a Consent Order against Defendants Kimball Parker of Lehi, Utah, and his Utah company, MakeYourFuture, LLC (MYF), who were charged with fraud and other violations in connection with the offering…

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ASIC applauds the enactment of stronger whistleblowing laws
May 22, 2017 BY LeapRate Staff

CFTC strengthens anti-retaliation protection for Whistleblowers and enhances the award process

After dealing with several cases of companies retaliating against employees who reported wrongdoing, the U.S. Commodity Futures Trading Commission (CFTC) has announced amendments to the its Whistleblower Rules that will, among other things, strengthen the CFTC’s anti-retaliation protections for whistleblowers and enhance the process for reviewing whistleblower claims. Based on a reinterpretation of the CFTC’s…

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DFSA
May 22, 2017 BY Valentina Kirilova

Securities Commission Malaysia charges former Managing Director of Maxbiz for insider trading

Securities Commission Malaysia (SC) today charged Dato’ Vincent Leong Jee Wai for insider trading of shares of Maxbiz Corporation Berhad (Maxbiz). Dato’ Vincent Leong, 58, was charged at the Kuala Lumpur Sessions Court this morning with two counts of communicating material non-public information between November 2010 and January 2011 to one Leong Wye Keong when…

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ESMA ceases renewal of product intervention CFDs measures
May 22, 2017 BY Valentina Kirilova

ESMA clarifies traded on a trading venue under MIFID II

The European Securities and Markets Authority (ESMA) has issued today an opinion regarding the implementation of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The opinion clarifies the concept of “traded on a trading venue” (TOTV), which is relevant for a number of provisions under MIFID II and MiFIR. The concept of…

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sfc bans
May 22, 2017 BY Valentina Kirilova

SFC bans a former employee of Citibank Ltd for four months

The Securities and Futures Commission (SFC) has prohibited Ms Bernie Wong Ching Man, a former employee of Citibank (Hong Kong) Limited, from re-entering the industry for four months from 19 May 2017 to 18 September 2017 for forging a client’s signature. The SFC found that in July 2015, Wong forged a customer’s signature on a…

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May 22, 2017 BY Valentina Kirilova

Clearstream releases monthly report, T2S volumes double to 500,000 transactions per day

Five years ago, the first nine Central Securities Depositories (CSDs) signed the agreement with the Eurosystem to set up the pan-European settlement platform TARGET2-Securities (T2S). T2S set out to reduce settlement cost in Europe, increase cross-border activity, move settlement to a common platform and thereby address some of the Giovannini barriers, identified as major obstacles…

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