Category: Financial Services

July 05, 2018 BY Valentina Kirilova

SFC consults on amendments to anti-money laundering

The Hong Kong Securities and Futures Commission (SFC) has launched a consultation on proposals to amend the Guideline on Anti-Money Laundering and Counter-Terrorist Financing to keep it in line with international anti-money laundering and counter-financing of terrorism (AML/CFT) standards and make it more useful and relevant. The proposed amendments expand the types of politically exposed…

Read more
clone firm FCA warning
July 05, 2018 BY Valentina Kirilova

FCA warns against Alliance Trust Plc clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Alliance Trust Plc. 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…

Read more
FCA challenged to do more to support professionalism in UK financial services
July 05, 2018 BY Valentina Kirilova

FCA challenged to do more to support professionalism in UK financial services

A financial services Alliance with a combined global membership of 200,000 has announced that it is challenging UK's Financial Conduct Authority (FCA) to do more to support professionalism in UK financial services. The Chartered Body Alliance, which is composed of the Chartered Insurance Institute, the Chartered Institute for Securities & Investment and the Chartered Banker…

Read more
First Republic Bank joins S&P 500 index, replaces Scana Corporation
July 05, 2018 BY Valentina Kirilova

Solactive launches Climate and Energy Transition Index

Solactive has just informed the public of the launch of the Climate and Energy Transition Index, an index tracking the performance of companies that show the best commitment to energy transition in their sectors while exhibiting low volatility and high dividend yield characteristics. The index is based on a methodology developed by Natixis in collaboration…

Read more
Blackwell Global Hong Kong joins SGX as derivatives trading member
July 05, 2018 BY Valentina Kirilova

Blackwell Global Hong Kong joins SGX as derivatives trading member

Blackwell Global Hong Kong has just announced its admittance as a member of the Singapore Exchange Derivatives Trading (SGX-DT). Global clients will gain direct access to the Asian derivatives market through the SGX Asian Gateway. As the subsidiary of Blackwell Global Hong Kong, Blackwell Global Futures’ membership of the SGX-DT allows the brokerage to offer…

Read more
fca warning clone firm
July 05, 2018 BY Valentina Kirilova

FCA warns against Southampton Trust clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Southampton Trust. 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 to…

Read more
UN report says North Korea laundered $2 billion theft via Hong Kong firm
July 05, 2018 BY Valentina Kirilova

New Zealand FMA charges false financial adviser with fraud

Garry James Patterson has been sentenced to 200 hours’ community work and 3 months’ community detention at the Christchurch District Court after pleading guilty to two charges brought by the Financial Markets Authority (FMA). Mr Patterson, 63, who is originally from Queenstown but has also been based in Christchurch, held out he was in the…

Read more
ASIC requires compliance with restrictions on use of ‘independent’
July 05, 2018 BY Valentina Kirilova

ASIC requires compliance with restrictions on use of ‘independent’

Australian regulator ASIC has announced that it is continuing to monitor the financial advice industry’s use of restricted terms ‘independent’ and ‘independently owned’, taking steps to intervene when it identifies concerns. Following surveillance of industry websites, ASIC has required four financial advice companies to cease and amend false claims of independence that could mislead consumers.…

Read more