Hong Kong Exchanges and Clearing Limited (HKEX) announced that will introduce its planned Offshore Renminbi (CNH) and US dollar (US$) Gold Futures on Monday, 10 July 2017. They will be the first pair of commodity futures that can be physically delivered in Hong Kong. The 12 Contract Months on the launch day will comprise the…
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Macquarie Securities (Australia) Limited has paid a penalty of $505,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP), ASIC announced earlier today. The MDP had reasonable grounds to believe that Macquarie had contravened subsection 798H(1) of the Corporations Act 2001 (Cth) by failing to comply with the ASIC…
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The Federal Communications Commission (FCC) today proposed a $120 million fine against an individual who apparently made almost 100 million spoofed robocalls in violation of the Truth in Caller ID Act. The law prohibits callers from deliberately falsifying caller ID information to disguise their identity with the intent to harm or defraud consumers. Mr. Adrian…
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On 20 June 2017, Kazakhstan Stock Exchange and Moscow Exchange announced that have signed a memorandum of understanding (MoU) on working together to promote exchange markets in Russia and Kazakhstan. The MoU was signed by Alina Aldambergen, CEO of Kazakhstan Stock Exchange, and Alexander Afanasiev, CEO of Moscow Exchange, during a visit to Moscow by…
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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 British Lenders Limited. British Lenders Limited is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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The Hong Kong Securities and Futures Commission (SFC) has banned Mr Fok Chi Kin from re-entering the industry for eight months from 20 June 2017 to 19 February 2018. Fok was a vice president of JPMorgan Funds (Asia) Limited (JPFL) providing sales support before he tendered his resignation on 8 March 2016. He left JPFL…
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ASIC announced that has banned former financial adviser, Mr Robert Gunner, of Brisbane, Queensland from providing financial services for seven years. Mr Gunner was employed as a representative of GuardianFP from 15 February 2013 until 4 May 2016. ASIC found that between January 2014 and February 2016, Mr Gunner failed to comply with financial services…
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The U.S. Securities and Exchange Commission today announced additional charges in an enforcement investigation involving the improper handling of American Depositary Receipts (ADRs) by a Wall Street firm’s securities lending desk. The SEC’s order finds supervisory failures by Anthony Portelli, a former managing director and head of operations at broker-dealer ITG Inc., a unit of…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Dash Loans. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…
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The Cyprus Securities and Exchange Commission (CySEC) today announced a series of financial penalties imposed on seven Directors and the Group Chief Financial Officer of the former Cyprus Popular Bank Public Co Ltd (“the Company”), following CySEC’s investigation into the Company’s malpractices during the period 2010-2011. A total of €1.14 million of fines have been…
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