Category: Regulation

March 13, 2017 BY Valentina Kirilova

The Financial Stability Board publishes consultation on UTI Governance

The Financial Stability Board (FSB) published a consultation document on Proposed governance arrangements for the unique transaction identifier (UTI). The consultation sets out proposals for the governance arrangements for a global UTI, as a key harmonised identifier designed to facilitate effective aggregation of transaction reports about over-the-counter (OTC) derivatives markets. G20 Leaders agreed at the…

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March 10, 2017 BY Valentina Kirilova

FCA warns against GE Money Financing clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm GE Money Financing. 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…

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March 10, 2017 BY Valentina Kirilova

FCA warns against Asset Management Protection 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 Asset Management Protection. Asset Management Protection is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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March 10, 2017 BY Valentina Kirilova

ASIC bans former Morgan Stanley Wealth Management financial adviser

ASIC has permanently banned Andrew Peter Panayiotides from providing financial services. ASIC found that Mr Panayiotides failed to act in the best interests of clients and provided advice to clients of Morgan Stanley Wealth Management in relation to exchange traded options (ETOs) that was inappropriate when considering the financial circumstances and objectives of the clients…

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March 10, 2017 BY Valentina Kirilova

ASIC releases new instrument for differential fees

Following public consultation, ASIC has released a new legislative instrument regarding differential fees, replacing the class order due to expire (‘sunset’) on 1 April 2017. ASIC has replaced Class Order [CO 03/217] with the new legislative instrument ASIC Corporations (Registered Schemes - Differential Fees) Instrument 2017/40 that: expands the relief where a member acquires an…

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March 10, 2017 BY LeapRate Staff

Were they high? SEC charges marijuana company Medbox and its executives with touting bogus revenues

As the legendary Jeff Spicoli would say, totally bogus! The U.S. Securities and Exchange Commission (SEC) today charged a California-based company and its founder with falsely touting “record” revenue numbers to investors and claiming to be a leader in the marijuana industry, while some of its earnings came from sham transactions with a secret affiliate.…

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