Category: Regulation

June 27, 2017 BY Valentina Kirilova

Hong Kong regulators release conclusions on the OTC derivatives regulatory regime

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) today published conclusions on a joint consultation paper which proposed adjusting the scope of “OTC derivative product” under the over-the-counter (OTC) derivatives regulatory regime. The proposed adjustments were to: prescribe certain additional markets and clearing houses so that products traded and cleared…

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Regulation
June 27, 2017 BY Valentina Kirilova

ESAs publish AML/CFT guidelines

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) announced that has published today its final Guidelines on anti-money laundering and countering the financing of terrorism (AML/CFT). The Guidelines promote a common understanding of the risk-based approach to AML/CFT and set out how it should be applied. These Guidelines…

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June 26, 2017 BY Valentina Kirilova

XTrade gets CIF license back after fixing its marketing issues

The Cyprus Securities and Exchange Commission (CySEC) announced that the partial suspension of the CIF authorisation of Xtrade Europe Ltd ('the Company'), number 108/10, for the provision of financial services and the performance of financial activities to new clients is herewith withdrawn/terminated and the registration of the Company in the Registry of authorised persons is…

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Regulation
June 26, 2017 BY Valentina Kirilova

ASIC commences proceedings against former managing director of Banksia Securities Limited

ASIC announced that has commenced civil penalty proceedings in the Federal Court of Australia in Melbourne against Patrick John Godfrey, former managing director of Banksia Securities Limited (In Liquidation). ASIC alleges that: Banksia’s financial reports for the financial years ending 30 June 2011 and 30 June 2012, and the half-year financial report for the half…

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fca warning
June 23, 2017 BY Valentina Kirilova

FCA warns against British Lenders Limited 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 British Lenders Limited. British Lenders Limited is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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asic bans
June 23, 2017 BY Valentina Kirilova

Former financial adviser banned by ASIC for seven years

ASIC announced that has banned former financial adviser, Mr Robert Gunner, of Brisbane, Queensland from providing financial services for seven years. Mr Gunner was employed as a representative of GuardianFP from 15 February 2013 until 4 May 2016. ASIC found that between January 2014 and February 2016, Mr Gunner failed to comply with financial services…

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clone firm FCA warning
June 22, 2017 BY Valentina Kirilova

FCA warns against Dash Loans clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Dash 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 as part of their tactics to…

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