Category: Regulation

fintech
March 28, 2017 BY Valentina Kirilova

Singapore and France bolster FinTech ties with cooperation agreements

The Monetary Authority of Singapore (MAS) announced that has signed cooperation agreements with the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) of France to enhance FinTech cooperation between both countries. The cooperation agreement provides a framework under which ACPR, AMF, and MAS will share information about emerging…

Read more
fma warns against unregulated company
March 28, 2017 BY Valentina Kirilova

Italy regulator CONSOB warns against two new companies

Financial markets regulator the National Commission for Companies and the Stock Exchange (CONSOB) has forbidden (pursuant to art. 99, paragraph 1, letter d, of the Consolidated Law on Finance - CLF) offers to the public resident in Italy, for the purpose of investments of a financial nature, through the website www.profits25.com. The CONSOB also announced…

Read more
March 27, 2017 BY Valentina Kirilova

CFTC staff provides relief associated with swap trade confirmations

The U.S. Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO) issued a no-action letter extending relief associated with swap trade confirmation requirements that previously was provided in CFTC Staff Letter 16-25, which expires March 31, 2017. The letter extends the relief until the effective date of any revised CFTC regulations regarding trade confirmation…

Read more
March 27, 2017 BY Valentina Kirilova

ASIC releases guidance on risk management systems of responsible entities

ASIC released Regulatory Guide RG 259 Risk Management systems of responsible entities to provide additional guidance to responsible entities on our expectations for compliance with their existing obligation under the Corporations Act 2001 to maintain adequate risk management systems. The guide is aimed at ensuring that the risk management systems of responsible entities, including minimum…

Read more
March 26, 2017 BY Valentina Kirilova

FCA warns against Global Attorney Services Boston 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 Global Attorney Services Boston. Global Attorney Services Boston is not authorised by the FCA but has been targeting people in the UK and is also carrying…

Read more
ESMA bond liquidity data
March 24, 2017 BY Valentina Kirilova

ESMA sees increase in financial consumer complaints

The number of complaints regulators have received in the first half of 2016 by financial consumers has increased, the European Securities and Markets Authority (ESMA) says. ESMA’s recent report on trends, risks and vulnerabilities (TRV) reveals that the total number of complaints reported across the EU was 7,026 in 1H16 compared to 5,152 in 2H15.…

Read more
March 24, 2017 BY Valentina Kirilova

FCA warns against Liberty Specialty Markets clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Liberty Specialty Markets/ Liberty Corporate Capital Markets. 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…

Read more
March 24, 2017 BY Valentina Kirilova

ASIC cancels AFS licences for failing to lodge annual statements

ASIC has cancelled the Australian financial services (AFS) licences of Rebate Financial Services Pty Ltd and Capstone Capital Pty Ltd for failing to comply with a number of their key obligations as financial services licensees. In particular, ASIC has found that the two licensees failed to: lodge annual financial statements and auditor's reports; and maintain…

Read more