Category: Regulation

sell side research regulation
July 03, 2017 BY LeapRate Staff

ASIC issues proposed guidance on sell-side research and conflicts of interest

Australia financial regulator ASIC has released a consultation paper proposing guidance on managing conflicts of interest and handling material, non-public information by Australian financial services (AFS) licensees that provide sell-side research. Sell-side research is general financial advice prepared and distributed by a financial institution to investors to help them make decisions about financial products. The…

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clone firm FCA warning
June 30, 2017 BY Valentina Kirilova

FCA warns against Right Choice Insurance Brokers clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Right Choice Insurance Brokers. 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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fca warning
June 30, 2017 BY Valentina Kirilova

FCA warns against Prolinet Ventures 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 Prolinet Ventures Limited. Prolinet Ventures 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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cftc penalty
June 30, 2017 BY LeapRate Staff

CFTC enters into Non-Prosecution Agreements with former Citi traders in Treasury Spoofing case

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it entered into non-prosecution agreements with Jeremy Lao of New York, Daniel Liao of Minato-Ku, Japan, and Shlomo Salant of New York. In their non-prosecution agreements, Lao, Liao, and Salant each admits that he engaged in the unlawful disruptive trade practice of “spoofing” (bidding or offering with…

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Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks
June 29, 2017 BY Valentina Kirilova

SEC charges oil and gas company and top finance executives with fraud

The Securities and Exchange Commission (SEC) announced that has charged a Canadian-based oil and gas company and three of its former top finance executives for their roles in an extensive, multi-year accounting fraud. The SEC's complaint alleges that Penn West Petroleum Ltd., which has since been renamed Obsidian Energy Ltd., fraudulently moved hundreds of millions…

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OSC
June 29, 2017 BY Valentina Kirilova

OSC approves no-contest settlement agreement with RBC Dominion Securities Inc., Royal Mutual Funds Inc. and more

The Ontario Securities Commission (OSC) announced that has approved a no-contest settlement agreement with RBC Dominion Securities Inc., Royal Mutual Funds Inc., and RBC Philips, Hager & North Investment Counsel Inc. (the RBC Registrants) in relation to a matter that the RBC Registrants discovered and self-reported to the OSC. This settlement follows allegations by OSC…

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Hong Kong SFC
June 29, 2017 BY Valentina Kirilova

Hong Kong SFC consults on new OFC Rules and OFC Code

The Securities and Futures Commission (SFC) announced that has launched a two-month consultation on the detailed legal and regulatory requirements applicable to the new open-ended fund company (OFC) structure. The OFC structure will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form. The consultation…

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