The Liquidators of the Connaught Fund have made the following comments on the announcement this morning that the FCA has arrived at the conclusion of its investigation on the conduct of CFM and that as a consequence of censure, a further sum of up to £66m is to be distributed to investors in the Fund.…
Read more
The Cyprus Securities and Exchange Commission (CySEC) announced that, on 6th November 2017, the CIF Dragon Options Ltd (‘the Company’) has renounced its authorisation, pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the ‘Law’). Therefore, the CIF authorisation with Νumber 223/14 lapsed as from…
Read more
The Department of Justice today announced that on November 9, the Madoff Victim Fund (MVF) began its initial distribution of $772.5 million in funds forfeited to the U.S. Government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. These funds will be sent to 24,631 victims across the globe. This distribution…
Read more
Cboe Global Markets, Inc. (Nasdaq: CBOE), one of the world’s largest exchange holding companies, today welcomed a new iShares fund to the Cboe ETF Marketplace. The iShares U.S. Dividend and Buyback ETF (Cboe: DIVB) seeks to track the investment results of the Morningstar® US Dividend and Buyback IndexSM (the “Underlying Index”). The Underlying Index is…
Read more
The Financial Conduct Authority (FCA) has today announced that Capita Financial Managers Limited (CFM) has been publicly censured and will pay up to £66 million to those investors who suffered loss as a result of investing in the Guaranteed Low Risk Income Fund, Series 1 (or as it became later known, the Connaught Income Fund,…
Read more
Tokyo Financial Exchange (TFX) just announced that its FX Daily Futures Click 365 and Equity Index Daily Futures Click Kabu 365 are recognized by the Financial Supervisory Commission of Taiwan (FSC) as "eligible foreign futures" for Taiwanese investors. This recognition enables Taiwanese investors to trade "Click 365" and "Click Kabu 365". TFX informed that will…
Read more
The Financial Industry Regulatory Authority (FINRA) announced that a FINRA extended hearing panel barred broker Hank Mark Werner of Northport, New York, for fraudulently churning and excessively trading the accounts of his customer –a blind, elderly widow –and for making unsuitable recommendations. The hearing panel also ordered Werner to pay more than $155,000 in restitution…
Read more
Singapore Exchange (SGX) informed that it has today welcomed Keppel-KBS US REIT to Mainboard under the stock code “CMOU”. Keppel-KBS US REIT is a Singapore real estate investment trust with an initial portfolio of 11 income-producing commercial assets in seven cities across the US. The REIT Manager is jointly owned by Keppel Capital, the asset…
Read more
FTSE Russell, the global index and data provider, announced the licensing of the Russell 2000® Index to Samsung Asset Management Company Limited as the basis of the first ETF in Korea to allow investors to gain exposure to the US small cap segment. The Samsung KODEX US Russell 2000 ETF (H) listed on Korea Exchange…
Read more
The Court of Appeal has today upheld the decision of the Court of First Instance (CFI) which had ruled in favour of an insider dealing and fraud case brought by the Hong Kong Securities and Futures Commission (SFC) against two solicitors – Ms Betty Young Bik Fung and Mr Eric Lee Kwok Wa – and…
Read more