ESMA finds improvements in regulators’ supervisory practices concerning MIFID rules LeapRate

May 18, 2017 BY Valentina Kirilova

ESMA finds improvements in regulators' supervisory practices concerning MIFID rules

The European Securities and Markets Authority (ESMA) has published a Follow-up Report on the actions undertaken by ten National Competent Authorities (NCAs) in addressing deficiencies identified in the 2014 Peer Review on MiFID Conduct of Business rules relating to fair, clear and not misleading information (2014 Review). ESMA welcomes the efforts made by most of…

May 18, 2017 BY Valentina Kirilova

CySEC announces lapse of CIF license of HiwayFX parent Lucro Capital Ltd

The Cyprus Securities and Exchange Commission (CySEC) announced that, on 27th April 2017, the CIF HiwayFX parent Lucro Capital Ltd 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 252/14 lapsed as from the…

May 17, 2017 BY LeapRate Staff

FCA regulated Strand Capital Limited enters administration

Strand Capital Limited, an FCA regulated investment management firm, formally entered the Special Administration Regime (SAR) insolvency proceedings on 17 May 2017. Having reached an assessment that it was no longer solvent, Strand made an application to the court to formally initiate insolvency proceedings under SAR. Strand has approximately 3,000 customers. The joint special administrators…

May 17, 2017 BY Valentina Kirilova

Hong Kong SFC adds Glory Top (H.K.) Limited to its alert list

Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…

May 17, 2017 BY Valentina Kirilova

FCA warns against Pioneer Asset Management clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Pioneer Asset 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 tactics…

May 17, 2017 BY Valentina Kirilova

CFTC’s Division of Clearing and Risk extends no-action relief for Shanghai Clearing House

The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (DCR) today issued a no-action letter extending the relief provided to the Shanghai Clearing House (SHCH) in CFTC Letter 16-56, which expires May 31, 2017. The extension will last until the earlier of November 30, 2017 or the date on which the CFTC…

May 17, 2017 BY Valentina Kirilova

Hong Kong SFC adds Davos Financial Investment Group / DFIG HK to its alert list

May 17, 2017 BY Valentina Kirilova

Netherlands regulator AFM warns against the business practices of Florijn Duurzaam Wonen

The Dutch Authority for the Financial Markets (AFM) issued a warning to consumers regarding the business practices of Florijn Duurzaam Wonen B.V. Florijn Duurzaam Wonen offers bonds in the Netherlands. Based on information on its website, the AFM suspects that Florijn Duurzaam Wonen is providing false information to consumers when offering these securities. Florijn Duurzaam…

May 17, 2017 BY Valentina Kirilova

FCA warns against Finance Active UK 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 Finance Active UK Limited. Finance Active UK Limited is not authorised by the FCA but has been targeting people in the UK and is also carrying…

May 17, 2017 BY Valentina Kirilova

ASIC to appoint liquidators to Courtenay House companies

Following an application by ASIC, the Supreme Court of NSW has made orders, by consent, for the winding up of Courtenay House Capital Trading Group Pty Ltd and Courtenay House Pty Ltd (Courtenay House companies) and the appointment of Said Jahani and John McInerney, of Grant Thornton, as joint liquidators to both companies. ASIC sought…

Category: Regulation