Category: Regulation

ASIC suspends AFS license
April 28, 2017 BY Valentina Kirilova

ASIC suspends AFS licence of Australia Wealth Capital Group

ASIC has suspended the Australian financial services (AFS) licence of Australia Wealth Capital Group Pty Ltd (AFS licence 434007) until 3 October 2017, for failing to comply with a number of key obligations as a financial services licensee, including: establishing and maintaining compliance measures to ensure, as far as reasonably practical, that the licensee complies…

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sfc warning
April 27, 2017 BY Valentina Kirilova

Hong Kong SFC adds Metis Etrade LLC 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…

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Hong Kong SFC
April 27, 2017 BY Valentina Kirilova

SFC issues a joint HKMA-SFC consultation on the OTC derivatives regulatory regime

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) today issued a joint consultation on the prescription of additional markets and clearing houses, and the prescription of Delta One Warrants, for the purpose of the over-the-counter (OTC) derivatives regulatory regime. This consultation is in response to a recent request from market…

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April 26, 2017 BY Valentina Kirilova

FCA publishes first set of data under new complaints rules

The Financial Conduct Authority (FCA) has published data on the number of complaints reported by firms under new rules which came into force on 30 June 2016. The total number of complaints reported by firms in the second half of 2016 was 3.04 million. This number is higher than previous reporting periods because under the…

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ASIC applauds the enactment of stronger whistleblowing laws
April 26, 2017 BY Valentina Kirilova

SEC awards nearly $4 million to whistleblower

The Securities and Exchange Commission (SEC) announced an award of nearly $4 million to a whistleblower who tipped the agency with detailed and specific information about serious misconduct and provided additional assistance during the ensuing investigation, including industry-specific knowledge and expertise. Not only did this whistleblower step forward and report suspicious conduct, but continued to…

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