Category: Regulation

Moment of Truth: ESMA now requires the online publication of RTS27 and RTS28 reports
November 10, 2017 BY Valentina Kirilova

ESMA updates its Q&As on MiFID II/MiFIR investor protection topics

The European Securities and Markets Authority (ESMA) informed that it has added 4 new Q&As to its Questions and Answers (Q&A) document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR). The new Q&As cover the topics of post-sale reporting, record keeping, and inducements. The…

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November 10, 2017 BY Valentina Kirilova

Duff & Phelps statement on FCA investigation into CFM

The Liquidators of the Connaught Fund have made the following comments on the announcement this morning that the FCA has arrived at the conclusion of its investigation on the conduct of CFM and that as a consequence of censure, a further sum of up to £66m is to be distributed to investors in the Fund.…

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November 10, 2017 BY Valentina Kirilova

Binary Options broker Dragon Options renounces CySEC CIF license

The Cyprus Securities and Exchange Commission (CySEC) announced that, on 6th November 2017, the CIF Dragon Options Ltd (‘the Company’) has renounced its authorisation, pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the ‘Law’). Therefore, the CIF authorisation with Νumber 223/14 lapsed as from…

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IOSCO issues statement on liquidity risk management recommendations for investment funds
November 09, 2017 BY Valentina Kirilova

IOSCO on implementation of G20/FSB recommendations to strengthen securities markets

The Board of the International Organization of Securities Commissions (IOSCO) has published a report on the implementation of the G20/FSB post-crisis recommendations aimed at strengthening securities markets. The Implementation Report: G20/FSB Recommendations related to Securities Markets was prepared by IOSCO’s Assessment Committee and is designed to provide further clarity on the recommendations and the role…

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fca warning
November 09, 2017 BY Valentina Kirilova

FCA warns against Home Owner Loans Online 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 Home Owner Loans Online. Home Owner Loans Online is not authorised by the FCA but has been targeting people in the UK and is also carrying…

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clone firm FCA warning
November 08, 2017 BY Valentina Kirilova

FCA warns against Bokan Capital clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Bokan Capital. 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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Breaking news: FXDD buying MahiFX UK FCA license
November 08, 2017 BY Valentina Kirilova

FCA launches Wholesale Insurance Brokers Market Study

The Financial Conduct Authority (FCA) has today launched a market study to assess how competition is working in the wholesale insurance broker sector. The FCA wants to ensure that the sector is working well, and fosters innovation and competition in the interests of its diverse range of clients. The London insurance market is one of…

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asic afs license
November 08, 2017 BY Valentina Kirilova

ASIC cancels AFS licenses of Divitiarum Audax Pty Limited and Mackellar Financial Services

ASIC announced that it has cancelled the Australian financial services (AFS) license of NSW-based Divitiarum Audax Pty Limited (Divitiarum Audax) and suspended the AFS licence of NSW-based Mackellar Financial Services Pty Ltd (Mackellar). Mackellar's AFS license has been suspended from 31 October 2017 until 30 April 2018for failing to lodge financial statements and auditor's reports…

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FCA
November 07, 2017 BY Valentina Kirilova

FCA response to PSR’s paper on authorised push payment scams

The Financial Conduct Authority (FCA) has contributed to the Payment Systems Regulator (PSR) paper on Authorised Push Payment Scams. This follows the Which? super-complaint regarding safeguards in the market for push payments. In December 2016, the FCA committed to identify if there were any firm-specific or sector-wide issues in the way banks handle authorised push…

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sfc bans
November 07, 2017 BY Valentina Kirilova

SFC bans former relationship manager of Citibank (Hong Kong) Limited

The Hong Kong Securities and Futures Commission (SFC) has banned Mr Yeung Leung Yuen, a former relationship manager of Citibank (Hong Kong) Limited (Citibank), from re-entering the industry for three years for conducting unauthorized transactions in a client’s securities account (Yeung was a relevant individual engaged by Citibank to carry on Type 1 (dealing in…

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