Category: Financial Services

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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Hong Kong SFC
May 22, 2017 BY Valentina Kirilova

SFC suspends a former responsible officer of Guoyuan Securities Brokerage Ltd for six months

The Hong Kong Securities and Futures Commission (SFC) announced that has suspended Mr Hui Lam Chiu, a former responsible officer of Guoyuan Securities Brokerage (Hong Kong) Limited (Guoyuan), for six months from 19 May 2017 to 18 November 2017. The disciplinary action follows the SFC’s sanction against Guoyuan over its breach of the anti-money laundering…

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UN report says North Korea laundered $2 billion theft via Hong Kong firm
May 22, 2017 BY Valentina Kirilova

SEC charges fake filer with manipulating Fitbit stock

The Securities and Exchange Commission (SEC) filed fraud charges against a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. According to the SEC’s complaint, Robert W. Murray purchased Fitbit call options just minutes before a fake tender offer that he orchestrated was filed on…

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asic bans
May 22, 2017 BY Valentina Kirilova

ASIC bans a former finance business manager for seven years

ASIC announced that has banned Christopher Robert Con Foo (also known as Christopher Robert Confoo) from engaging in credit activities and providing financial services for a period of seven years. Mr Con Foo, a former finance business manager, arranged car finance and insurance for customers buying vehicles from South Yarra BMW, a car dealership operated…

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