ASIC releases guidance on risk management systems of responsible entities LeapRate

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…

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…

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.…

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…

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…

March 23, 2017 BY Valentina Kirilova

ESMA publishes two sets of guidelines under CSDR

The European Securities and Markets Authority (ESMA) has issued final reports on two sets of guidelines regarding the implementation of the Central Securities Depositary Regulation (CSDR). The CSDR harmonises the settlement of securities by providing a set of common requirements for central securities depositories (CSDs) operating securities settlement systems. SMA’s guidelines, which complement the CSDR…

March 23, 2017 BY Valentina Kirilova

New Chair of FCA’s Smaller Business Practitioner Panel announced

Just two days after appointing Nick Stace as a Non-Executive Director to its board, the Financial Conduct Authority Chairman, John Griffith-Jones, has announced the appointment of a new Chair for the FCA’s independent Smaller Business Practitioner Panel. Craig Errington, Group Chief Executive of specialist financial mutual Wesleyan, becomes Chair of the FCA Smaller Business Practitioner…

March 23, 2017 BY Valentina Kirilova

ASIC accepts enforceable undertaking from former Macquarie Equities Limited adviser

ASIC announced that has accepted an enforceable undertaking (EU) from Anthony Wilson, a former representative of Macquarie Equities Limited. Under the EU, Mr Wilson undertakes that he will not provide financial services on behalf of himself or any other person, for a period of four years. ASIC was concerned that Mr Wilson's advice during the…

March 23, 2017 BY Valentina Kirilova

FCA warns against 10 Markets.com

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 10 Markets.com. 10 Markets.com is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…

March 23, 2017 BY Valentina Kirilova

ASIC accepts enforceable undertaking from Barclays entities

Yesterday, ASIC accepted an enforceable undertaking (EU) from three Barclays foreign financial service providers (FFSPs): Barclays Capital Inc. (BCI) domiciled in the United States of America Barclays Capital Asia Limited (BCAL) domiciled in Hong Kong, and Barclays Capital Securities Limited (BCSL) domiciled in the United Kingdom, collectively 'the Barclays entities.' As part of the terms…

Category: Regulation