Category: Financial Services

Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks
March 28, 2017 BY Valentina Kirilova

SEC freezes assets of investment adviser Financial Management Strategies

The Securities and Exchange Commission (SEC) announced an emergency asset freeze and temporary restraining order against a Chicago-based investment adviser and his financial management company accused of scamming elderly investors out of millions of dollars. The SEC alleges that Daniel H. Glick and his unregistered investment advisory firm Financial Management Strategies (FMS) provided clients with…

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March 28, 2017 BY Valentina Kirilova

FCA warns against three new clone firms

The UK Financial Conduct Authority (FCA) has put out details of three new cloned firms: ReLoan UK, Pulse Finance, and Guaranteed 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…

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March 28, 2017 BY Valentina Kirilova

Singapore and France bolster FinTech ties with cooperation agreements

The Monetary Authority of Singapore (MAS) announced that has signed cooperation agreements with the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) of France to enhance FinTech cooperation between both countries. The cooperation agreement provides a framework under which ACPR, AMF, and MAS will share information about emerging…

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fma warns against unregulated company
March 28, 2017 BY Valentina Kirilova

Italy regulator CONSOB warns against two new companies

Financial markets regulator the National Commission for Companies and the Stock Exchange (CONSOB) has forbidden (pursuant to art. 99, paragraph 1, letter d, of the Consolidated Law on Finance - CLF) offers to the public resident in Italy, for the purpose of investments of a financial nature, through the website www.profits25.com. The CONSOB also announced…

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March 27, 2017 BY Valentina Kirilova

MOEX and DCE announce new areas of cooperation in MOU

Moscow Exchange (MOEX) and Dalian Commodity Exchange (DCE) announced today that they have signed a Memorandum of Understanding (MOU), aimed at expanding the cooperation between the two exchanges in terms of information sharing, high-level visits, training and exchange programmes for staff, and other areas of business cooperation. Li Zhengqiang, Chairman of DCE, said during the…

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March 27, 2017 BY Valentina Kirilova

CFTC staff provides relief associated with swap trade confirmations

The U.S. Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO) issued a no-action letter extending relief associated with swap trade confirmation requirements that previously was provided in CFTC Staff Letter 16-25, which expires March 31, 2017. The letter extends the relief until the effective date of any revised CFTC regulations regarding trade confirmation…

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March 27, 2017 BY Valentina Kirilova

ASIC releases guidance on risk management systems of responsible entities

ASIC released Regulatory Guide RG 259 Risk Management systems of responsible entities to provide additional guidance to responsible entities on our expectations for compliance with their existing obligation under the Corporations Act 2001 to maintain adequate risk management systems. The guide is aimed at ensuring that the risk management systems of responsible entities, including minimum…

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