Michael Ian Davey, of Slacks Creek, Queensland, has been banned by ASIC from managing corporations for two and a half years. Mr Davey's banning follows the appointment of liquidators to two companies he managed, Refractory Construction Pty Ltd (formerly known as Total Refractory Management Pty Ltd) and A4dable Geeks Pty Ltd. As a result of…
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KCG Holdings, Inc. (NYSE: KCG), a leading independent securities firm offering investors a range of services designed to address trading needs across asset classes, product types and time zones, today confirmed that it has received an unsolicited proposal from Virtu Financial, Inc. (NASDAQ: VIRT) to acquire all the outstanding shares of KCG's common stock for $18.50-$20.00…
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The Cyprus Securities and Exchange Commission (CySEC) announced that, on its meeting of 13th February 2017, has decided to wholly withdraw the Cyprus Investment Firm authorization with number CIF 085/07 of Atlas Capital Financial Services Ltd. (ACFX). The company is operating at https://www.acfs.eu and https://www.acfx.com. ACFX basically shut down its operations, with several million dollars…
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The Market Misconduct Tribunal (MMT) has found that a former senior executive of an affiliate of Titan Petrochemicals Group Limited (Titan), Mr Augustine Cheong Kai Tjieh, and his mother, Ms Gan Ser Soon, engaged in insider dealing in the shares of Titan in January 2012. Cheong and Gan were found to have sold their Titan…
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The Securities and Futures Commission (SFC) has reprimanded and fined BOCOM International (Asia) Limited (BIAL) $15 million, for failing to discharge its duties as a sponsor in relation to the listing application of China Huinong Capital Group Limited. Failure to conduct all reasonable due diligence before submitting an application China Huinong is a company established…
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Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…
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Hong Kong Exchanges and Clearing Limited (HKEX) welcomed the announcement by Li Keqiang, the Premier of the State Council of the People's Republic of China, yesterday about setting up bond market links between Hong Kong and Mainland China. HKEX believes that Bond Connect represents a major breakthrough in the development of the Mainland capital markets…
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The National Commission for Companies and the Stock Exchange (Commissione Nazionale per le Società e la Borsa - CONSOB) has prohibited: under the terms of article 99, paragraph 1, letter d), of the Consolidated Law on Finance - CLF, the offering to the public resident in Italy regarding investments of a financial nature carried out…
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Australia financial regulator ASIC has today accepted enforceable undertakings from Westpac Banking Corporation (WBC:ASX) and Australia and New Zealand Banking Group (ASX:ANZ) in relation to the banks' wholesale foreign exchange (FX) businesses. As a result of ASIC’s investigation, ASIC is concerned that between January 2008 and June 2013 both banks failed to ensure that their…
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Australia financial regulator ASIC has announced that Credit Suisse Equities (Australia) Limited, an Australian unit of global banking firm Credit Suisse Group AG (ADR) (NYSE:CS) has paid a penalty of AUD $170,000 to comply with an infringement notice from ASIC's Markets Disciplinary Panel (MDP). The MDP had reasonable grounds to believe that Credit Suisse had contravened…
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