Category: Financial Services

July 20, 2017 BY Valentina Kirilova

ASIC consults on revised license regime for domestic and overseas market operators

ASIC announced that is consulting on proposals to refine and update ASIC’s regulatory guidance on the licensing regime for financial markets. Consultation Paper 293 Revising the market licence regime for domestic and overseas operators (CP 293) proposes introducing a two-tiered market licence regime, based on a risk-based assessment. The second tier of licence will be…

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CySEC settlement
July 20, 2017 BY Valentina Kirilova

CySEC revokes fines against former executive of CommexFX

Following a previous announcement, the Board of the Cyprus Securities and Exchange Commission (CySEC) just informed that, on its meeting dated 17 July 2017, has decided, for procedural reasons, to revoke its Decision of 13 February 2017 for the imposition of administrative sanctions to Mr. Amr Jamal Mohamed Hendawi and more specifically: for the imposition…

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Deutsche Börse
July 20, 2017 BY Valentina Kirilova

JOST Werke AG listed on Frankfurt Stock Exchange

JOST Werke AG (ISIN: DE000JST4000) is listed in the Prime Standard on the Frankfurt Stock Exchange as of today, Deutsche Börse just announced. The issue volume of the private placement was €231 million. The first price was €27.40, the issue price €27.00. Deutsche Bank, J.P. Morgan and Commerzbank were mandated as Joint Global Coordinators and…

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UN report says North Korea laundered $2 billion theft via Hong Kong firm
July 20, 2017 BY Valentina Kirilova

SEC bars lawyer who committed fraud

The Securities and Exchange Commission (SEC) announced that has barred a New York-based attorney from appearing or practicing before it and acting as an officer or director of a public company after finding that he made false and misleading statements in corporate filings. The SEC’s order finds that David Lubin committed fraud while serving as…

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asic bans
July 20, 2017 BY Valentina Kirilova

ASIC permanently bans former director of Carter Group Pty Ltd

ASIC has permanently banned Gold Coast based financial adviser Mr Satvir Singh Birk from providing financial services. Mr Birk was an authorised representative of Professional Investment Services Pty Ltd (PIS) and a director of Carter Group Pty Ltd (Carter Group) (now in external administration) which was a corporate authorised representative of PIS. ASIC found that…

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fma warning
July 19, 2017 BY Valentina Kirilova

New Zealand's Financial Markets Authority confirms KiwiSaver fees

The FMA has confirmed the methodology KiwiSaver scheme providers must use when calculating the dollar amount of fees paid by KiwiSaver investors for annual statements. The FMA wants to ensure providers are calculating fees accurately without burdening them with unnecessary costs and ensuring they have time to comply. KiwiSaver scheme providers must allocate fees charged…

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July 19, 2017 BY Valentina Kirilova

Hong Kong’s fund management business grows steadily in 2016

The Hong Kong Securities and Futures Commission (SFC) has today released its annual Fund Management Activities Survey (FMAS) which shows that the combined fund management business in Hong Kong increased by 5.2% year-on-year to $18,293 billion as of 31 December 2016. Overseas investors remained a major source of funding for the fund management business, accounting…

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cnmv spain forex regulation
July 19, 2017 BY Valentina Kirilova

Spain regulator CNMV warns against 1875-Finance Invest firm

The National Securities Market Commission (Comisión Nacional del Mercado de Valores, or CNMV) has published the following warning reported on unregistered entitiy that was received through international supervisors:  1875-FINANCE INVEST (CLON), WWW.1875-FINANCEINVEST.COM The warning was received from Luxembourg's regulator CSSF. For more details on the warnings received from foreign regulators at the European level, please…

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