Category: Regulation

May 23, 2017 BY Valentina Kirilova

Provisional liquidators appointed to Diploma Group Limited and its subsidiaries

Justice McKerracher of the Federal Court of Australia has lifted an earlier stay on the appointment of David Hodgson and Andrew Hewitt, of Grant Thornton, as provisional liquidators to ASX-listed Diploma Group Limited (Receivers and Managers Appointed) (Administrators Appointed) and its subsidiaries following an application by ASIC, the Australian regulator announced earlier today. The subsidiaries…

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ASIC applauds the enactment of stronger whistleblowing laws
May 22, 2017 BY LeapRate Staff

CFTC strengthens anti-retaliation protection for Whistleblowers and enhances the award process

After dealing with several cases of companies retaliating against employees who reported wrongdoing, the U.S. Commodity Futures Trading Commission (CFTC) has announced amendments to the its Whistleblower Rules that will, among other things, strengthen the CFTC’s anti-retaliation protections for whistleblowers and enhance the process for reviewing whistleblower claims. Based on a reinterpretation of the CFTC’s…

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ESMA ceases renewal of product intervention CFDs measures
May 22, 2017 BY Valentina Kirilova

ESMA clarifies traded on a trading venue under MIFID II

The European Securities and Markets Authority (ESMA) has issued today an opinion regarding the implementation of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The opinion clarifies the concept of “traded on a trading venue” (TOTV), which is relevant for a number of provisions under MIFID II and MiFIR. The concept of…

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sfc bans
May 22, 2017 BY Valentina Kirilova

SFC bans a former employee of Citibank Ltd for four months

The Securities and Futures Commission (SFC) has prohibited Ms Bernie Wong Ching Man, a former employee of Citibank (Hong Kong) Limited, from re-entering the industry for four months from 19 May 2017 to 18 September 2017 for forging a client’s signature. The SFC found that in July 2015, Wong forged a customer’s signature on a…

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Hong Kong SFC
May 22, 2017 BY Valentina Kirilova

SFC suspends a former responsible officer of Guoyuan Securities Brokerage Ltd for six months

The Hong Kong Securities and Futures Commission (SFC) announced that has suspended Mr Hui Lam Chiu, a former responsible officer of Guoyuan Securities Brokerage (Hong Kong) Limited (Guoyuan), for six months from 19 May 2017 to 18 November 2017. The disciplinary action follows the SFC’s sanction against Guoyuan over its breach of the anti-money laundering…

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UN report says North Korea laundered $2 billion theft via Hong Kong firm
May 22, 2017 BY Valentina Kirilova

SEC charges fake filer with manipulating Fitbit stock

The Securities and Exchange Commission (SEC) filed fraud charges against a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. According to the SEC’s complaint, Robert W. Murray purchased Fitbit call options just minutes before a fake tender offer that he orchestrated was filed on…

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asic bans
May 22, 2017 BY Valentina Kirilova

ASIC bans a former finance business manager for seven years

ASIC announced that has banned Christopher Robert Con Foo (also known as Christopher Robert Confoo) from engaging in credit activities and providing financial services for a period of seven years. Mr Con Foo, a former finance business manager, arranged car finance and insurance for customers buying vehicles from South Yarra BMW, a car dealership operated…

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