Category: Regulation

csa report
April 13, 2017 BY Valentina Kirilova

CSA: Investor Advisory Panel’s annual report highlights work on conflicted compensation

The Investor Advisory Panel today released its 2016 Annual Report summarizing its recommendations, activities, submissions, consultations, and meetings during the calendar year. In 2016, the Panel focused on five critical areas of investor protection: conflicts of interest and conflicted compensation, the need for a best interest standard, risk profiling, the Ombudsman for Banking Services and…

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CFTC offices
April 13, 2017 BY Valentina Kirilova

CFTC announces N. Charles Thornton III as Director of the Office of Legislative Affairs

U.S. Commodity Futures Trading Commission Acting Chairman J. Christopher Giancarlo today announced that N. Charles “Charlie” Thornton III has been named the Commission’s Director of the Office of Legislative Affairs. Mr. Thornton comes to the CFTC from the United States Senate Agriculture, Nutrition, and Forestry Committee where he served as Senior Professional Staff and Counsel.…

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April 12, 2017 BY Valentina Kirilova

SFC reprimands and fines iSTAR International Futures Co. Limited $3 million over anti-money laundering

The Securities and Futures Commission (SFC) has reprimanded iSTAR International Futures Co. Limited, now known as Rifa Futures Limited, and fined it $3 million over failures to comply with anti-money laundering regulatory requirements when processing third party fund transfers. An SFC investigation found that between January and July 2014, Rifa took insufficient steps to mitigate…

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April 12, 2017 BY Valentina Kirilova

CySEC suggests possible Brexit impact on the activities and services of Cyprus Investment Firms

The Cyprus Securities and Exchange Commission (CySEC) requested the Cyprus Investment Firms (CIFs) to report to CySEC on the likely implications that Brexit will have on their activities and services, including any suggestions for adopting immediate measures to eliminate their respective impact. CIFs are therefore advised to look at their business model structure, services and…

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April 12, 2017 BY Valentina Kirilova

Belize regulator IFSC warns against forex broker Tradeex Ltd.

Belize financial regulator IFSC (International Financial Services Commission) has issued a warning regarding retail forex brokerage firm Tradeex Ltd. IFSC announced that it has come to its notice that an entity calling itself ‘Tradeex Ltd.’ is falsely and fraudulently claiming to be an International Business Company registered in Belize. The Certificate of Incorporation No.147,333 carrying its…

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April 12, 2017 BY Valentina Kirilova

ASIC cancels AFS licence of responsible entity DD&D Securities

ASIC has cancelled the Australian financial services (AFS) licence of DD&D Securities Ltd (AFS licence 221147) for failing to comply with a number of its key obligations as a financial services licensee. In particular, ASIC found that DD&D Securities failed to: maintain membership with an external dispute resolution scheme approved by ASIC; lodge its financial…

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Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks
April 11, 2017 BY Valentina Kirilova

SEC: Payments for bullish articles on stocks must be disclosed to investors

The Securities and Exchange Commission (SEC) announced enforcement actions against 27 individuals and entities behind various alleged stock promotion schemes that left investors with the impression they were reading independent, unbiased analyses on investing websites while writers were being secretly compensated for touting company stocks. SEC investigations uncovered scenarios in which public companies hired promoters…

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April 11, 2017 BY Valentina Kirilova

FCA warns against Ralston Consultancy Ltd 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 Ralston Consultancy Ltd. Ralston Consultancy Ltd is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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