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

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.…

March 09, 2017 BY Valentina Kirilova

MTS equips clients for MiFID II compliance across European trading venues

MTS, one of Europe’s premier fixed income electronic trading venues, is helping buy- and sell-side customers across its electronic marketplaces prepare for compliance with MiFID II and MiFIR regulatory standards ahead of the introduction of the new legislation in January 2018 with the launch of a dedicated web portal and trade reporting service. With over…

March 09, 2017 BY Valentina Kirilova

London Stock Exchange Group announces new International Securities Market

London Stock Exchange Group (LSEG) announced an additional market for the issuance of primary debt targeted at institutional and professional investors, the International Securities Market (ISM). The exchange-regulated multilateral trading facility (MTF) market will operate alongside London Stock Exchange plc’s (LSE plc) other markets. LSE plc will publish a market consultation at the end of…

March 09, 2017 BY Valentina Kirilova

SFC announces implementation of expanded Short Position Reporting

The Hong Kong Securities and Futures Commission (SFC) just reminded market participants that with effect from 15 March 2017, reporting will be required for reportable short positions in all Designated Securities eligible for short selling specified by The Stock Exchange of Hong Kong Limited. This follows the completion of a two-month pilot test of the…

March 09, 2017 BY Valentina Kirilova

Hong Kong SFC adds another suspicious website 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…

March 09, 2017 BY Valentina Kirilova

FCA and Japanese FSA announce Co-operation Framework to support FinTech companies

The Financial Services Agency of Japan (JFSA) and the UK’s Financial Conduct Authority (FCA) have exchanged letters on a Co-operation Framework to support innovative FinTech companies. This Exchange of Letters between the JFSA and the FCA will provide a regulatory referral system for Innovator Businesses from Japan and the UK seeking to enter the other’s…

March 09, 2017 BY Valentina Kirilova

Hong Kong SFC adds North West Capital Funds HK Ltd to its alert list

New BIS report cites “internalization” by large banks for 7% volume drop

March 09, 2017 BY LeapRate Staff

NEX Regulatory Reporting launches using its Abide Financial unit's platform

NEX Group PLC (LON:NXG), formerly known as ICAP plc, has announced the launch of NEX Regulatory Reporting. Led by Collin Coleman and powered by Abide Financial which NEX Group acquired late last year, NEX Regulatory Reporting brings together a suite of best-in-breed services under a single umbrella to offer clients an extremely powerful and versatile reporting…

March 09, 2017 BY LeapRate Staff

CySEC issues another impersonators scam warning

Every several months, it seems, Cyprus financial regulator CySEC puts out some version of a warning against impersonators appearing as CySEC officials in an attempt to scam unsuspecting investors. In the latest iteration, recent instances came to the attention of CySEC which involve correspondence from the US, Canada and the Dominican Republic in which persons…

March 08, 2017 BY Valentina Kirilova

FCA warns against Loans 2 Go clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Loans 2 Go. 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…

Category: Regulation