Category: Financial Services

March 15, 2017 BY Valentina Kirilova

SFC reprimands and fines BOCOM International (Asia) Limited $15 million for sponsor failures

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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sfc warning
March 15, 2017 BY Valentina Kirilova

Hong Kong SFC adds Kanagawa Associates to its alert list

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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March 15, 2017 BY Valentina Kirilova

HKEX advances the preparatory work for Bond Connect

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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March 15, 2017 BY LeapRate Staff

Westpac and ANZ cited for FX inadequacies including confidential order leaks

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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SFC fines
March 15, 2017 BY LeapRate Staff

Credit Suisse fined $170,000 in Australia for order filtering issues

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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cssf warning
March 14, 2017 BY Valentina Kirilova

Luxembourg regulator CSSF warns against Campbell & Browne Associates

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named Campbell & Browne Associates. Campbell & Browne Associates operates at website https://campbellbrowneassociates.com/ and claims to be established at 26, boulevard Royal, L-2449 Luxembourg. The CSSF informs the public that the entity named Campbell & Browne Associates is…

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March 14, 2017 BY Valentina Kirilova

FCA warns against Stevenson Investment Management Inc. firm

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 Stevenson Investment Management Inc. Stevenson Investment Management Inc. is not authorised by the FCA but has been targeting people in the UK and is also carrying…

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March 14, 2017 BY Valentina Kirilova

IOSCO launches its first Regional Capacity Building Hub in Malaysia

The International Organization of Securities Commissions (IOSCO) today unveiled the IOSCO Asia Pacific Hub in Kuala Lumpur, hosted by the Securities Commission (SC) Malaysia. This initiative responds to a growing demand among IOSCO members for enhanced capacity building, particularly in growth and emerging markets. Ranjit Ajit Singh, Chair of SC Malaysia, Vice Chair of the…

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