Category: Regulation

May 02, 2018 BY Valentina Kirilova

MAS requires OTC derivatives to be centrally cleared to mitigate systemic risk

The Monetary Authority of Singapore (MAS) announced that it will introduce regulations to require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs), with effect from 1 October 2018. Central clearing will make the trading of OTC derivatives in Singapore safer as it mitigates counterparty credit risks inherent in these trades. The mandatory clearing…

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May 02, 2018 BY Valentina Kirilova

FCA warns against Marc Hermann Wealth Management clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Marc Hermann Wealth Management. 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…

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May 02, 2018 BY Valentina Kirilova

ASIC cancels the registration of 117 SMSF auditors

Australian regulator ASIC has just announced that it cancelled the registration of 117 approved self-managed superannuation fund (SMSF) auditors who did not lodge their annual statements. Notice of cancellation was sent to these auditors on 20 February 2018. On 10 November 2017, ASIC sent a final warning to 404 approved SMSF auditors with outstanding annual…

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May 02, 2018 BY Valentina Kirilova

French AMF warns against crowdfunding advisor website

The Autorité des marchés financiers (AMF) has just issued a public warning regarding the activities of the website https://epargne-eco.fr/, proposing savers to invest in various projects and pretending to be a crowdfunding advisor (CIP) – or about to be registered. The website https://epargne-eco.fr/ offers investors the opportunity to invest in different kind of projects as…

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May 02, 2018 BY Valentina Kirilova

Australian regulator cancels Mackellar's AFS license

The Australian Securities and Investments Commission (ASIC) has announced that it cancelled the Australian Financial Services (AFS) license of NSW-based Mackellar Financial Services Pty Ltd (Mackellar). Mackellar's AFS license has been cancelled, following a suspension in October 2017, for continued failure to lodge financial statements and auditor's reports for a period of four years. Licensees…

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April 30, 2018 BY Valentina Kirilova

FCA warns against Amalgamated Properties Limited clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Amalgamated Properties Limited. 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…

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April 27, 2018 BY Valentina Kirilova

FCA warns against Atwood Stanley Asset Management

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 company Atwood Stanley Asset Management. Atwood Stanley Asset Management is not authorised by the FCA but has been targeting people in the UK and is also carrying…

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April 27, 2018 BY Valentina Kirilova

CySEC signs MoU with Cyprus Public Audit Oversight Board

The Cyprus Public Audit Oversight Board (CyPAOB) and the Cyprus Securities and Exchange Commission (CySEC) have announced that they have recently signed a Memorandum of Understanding (MoU). The MoU was signed by Mrs Rea Georgiou, Chairwoman of CyPAOB and Mrs Demetra Kalogerou, Chairwoman of CySEC. With this MoU, a framework and procedures for close cooperation…

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April 27, 2018 BY Valentina Kirilova

FCA warns against Whitestone Finance Ltd clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Whitestone Finance Ltd. 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…

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April 27, 2018 BY Valentina Kirilova

SFC proposes enhancements to the Investor Compensation Regime

The Hong Kong Securities and Futures Commission (SFC) has informed the public that it has today launched a two-month consultation on proposed enhancements to the Investor Compensation Regime. Key proposals include increasing the compensation limit from $150,000 to $500,000 per investor per default and covering northbound trading under Mainland-Hong Kong Stock Connect. In addition, the…

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