Category: Financial Services

May 31, 2018 BY LeapRate Staff

Goldman Sachs junior banker charged in Insider Trading scheme

The U.S. Securities and Exchange Commission (SEC) has announced charges against an employee of prominent investment bank Goldman Sachs (NYSE:GS) with repeatedly using his access to highly confidential information in order to place illicit and profitable trades in advance of deals on which the bank was providing investment banking advisory services. According to the SEC’s complaint,…

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May 31, 2018 BY Valentina Kirilova

FCA warns against VBM Capital Partners clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm VBM Capital Partners. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Be aware that the scammers may give out other false details or mix them…

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May 31, 2018 BY Valentina Kirilova

ASX invests in a new electronic property settlement business

ASX Limited (ASX) has announced that it has partnered with Australian Technology Innovators Pty Limited (ATI), the parent company of InfoTrack, an Australian provider of eConveyancing technology and services, to enter the national electronic property settlement market. Sympli Australia Pty Ltd (Sympli), owned 50:50 by ASX and ATI, has applied to become an Electronic Lodgment…

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May 31, 2018 BY Valentina Kirilova

MAS warn investors about trading on unregulated online platforms

The Commercial Affairs Department (CAD) of the Singapore Police Force and Monetary Authority of Singapore (MAS) have advised the public to exercise extreme caution when dealing with unregulated online trading platforms. CAD and MAS have received an increasing number of complaints from members of the public involving losses from unregulated online trading platforms over the…

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May 31, 2018 BY Valentina Kirilova

SFC fines Hang Seng Investment Management Limited $3 million for regulatory breaches

The Hong Kong Securities and Futures Commission (SFC) has informed that it has reprimanded and fined Hang Seng Investment Management Limited (HSIM) $3 million for its failure to comply with regulatory requirements on cash management involving SFC-authorized funds. The SFC’s disciplinary action followed an independent review jointly agreed by the SFC and HSIM. The review…

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May 31, 2018 BY Valentina Kirilova

SEC charges investment professional in $8 million scam

The Securities and Exchange Commission (SEC) has informed the public that it has charged a former registered representative with defrauding long-standing brokerage customers in an $8 million investment scam. According to the SEC’s complaint, Steven Pagartanis, who was affiliated with a registered broker-dealer, told some investors – including retirees who had been Pagartanis’s customers for…

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May 31, 2018 BY Valentina Kirilova

FCA warns against Escrow Global clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Escrow Global​​​​. 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…

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May 31, 2018 BY Valentina Kirilova

FCA warns against ISGXchange 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 company ISGXchange. ISGXchanges is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…

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May 31, 2018 BY Valentina Kirilova

Nasdaq Helsinki launches a new sustainable bond market

Nasdaq (Nasdaq: NDAQ) today announced that Nasdaq Helsinki is launching a new sustainable bond market segment on the Main Market. The first green bond issuer is Municipality Finance Plc (MuniFin). MuniFin is listing its two green bonds on the Nasdaq Helsinki Sustainable Bond Market. Its first green bond was issued in September 2016. The transaction…

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May 31, 2018 BY Valentina Kirilova

ASIC gives financial firms disclosure relief during transition to AFCA

ASIC has announced it will give financial firms, including superannuation trustees, transitional relief until 1 July 2019 to allow them time to update mandatory disclosure documents and periodic statements with the contact details of the Australian Financial Complaints Authority (AFCA). AFCA is the new single external dispute resolution (EDR) scheme for consumer and small business…

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