Category: Financial Services

DFSA
October 16, 2017 BY Valentina Kirilova

FINRA fines Wells Fargo broker-dealers $3.4 million in restitution to affected customers

The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC to pay more than $3.4 million in restitution to affected customers for unsuitable recommendations of volatility-linked exchange-traded products (ETPs) and related supervisory failures. FINRA found that between July 1, 2010, and…

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sec whistleblower award
October 16, 2017 BY Valentina Kirilova

SEC announces whistleblower award of more than a million dollars

The Securities and Exchange Commission (SEC) announced that a whistleblower has earned an award of more than $1 million for providing the SEC with new information and substantial corroborating documentation of a securities law violation by a registered entity that impacted retail customers. Today’s award reflects the impact that whistleblower information can have in uncovering…

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Breaking news: FXDD buying MahiFX UK FCA license
October 16, 2017 BY Valentina Kirilova

FCA launches the Asset Management Authorisation Hub

The Financial Conduct Authority (FCA) has today launched its new asset management authorisation hub. The hub has been launched to support new firms by assisting when they apply for authorisation, throughout the authorisation process and afterwards. The authorisation hub will not lower entry standards to the market and entrants will need to meet the same…

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fca warning
October 16, 2017 BY Valentina Kirilova

FCA warns against Forest Advisory Service 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 Forest Advisory Service. Forest Advisory Service is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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October 16, 2017 BY Valentina Kirilova

HKEX launches third Director training webcasts

The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), has published the findings of its latest review of listed issuers' corporate governance practices. The review involved analysing the disclosures made by 1,428 issuers (approximately 72 per cent of all issuers listed as at 31…

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fca warning
October 16, 2017 BY Valentina Kirilova

FCA warns against Loan 4 Help 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 Loan 4 Help. Loan 4 Help is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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Frankfurt Stock Exchange
October 16, 2017 BY Valentina Kirilova

Voltabox AG listed on the Frankfurt Stock Exchange

Initial price: €30.00 / Investors take advantage of subscription on the exchange Voltabox AG (ISIN: DE000A2E4LE9) was listed in the Prime Standard of the Frankfurt Stock Exchange, Deutsche Börse announced. A total of around 22 million shares were admitted to trading. The initial listing price was €30.00. The issue's lead managers and designated sponsors for…

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ASIC office
October 16, 2017 BY Valentina Kirilova

ASIC accepts enforceable undertaking from Sentinel Private Wealth

ASIC just announced that has accepted an enforceable undertaking (EU) from Sentinel Private Wealth Pty Ltd (SPW) after ASIC found SPW was giving poor financial advice and that client file audits were inadequate. Under the EU, SPW will engage an independent expert to assess, make recommendations and report on SPW's audit framework. The independent expert's…

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clone firm FCA warning
October 13, 2017 BY Valentina Kirilova

FCA warns against Way to Finance clone firm

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

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SIX Swiss Exchange
October 13, 2017 BY LeapRate Staff

SIX Swiss Exchange selects LSE's UnaVista for transaction reporting for remote participants

SIX Swiss Exchange has announced that it has selected UnaVista, the approved reporting mechanism for MiFID and MiFID II from the London Stock Exchange Group Plc (LON:LSE), as its partner for transaction reporting for remote participants. SIX Swiss Exchange will partner with LSEG to establish a link to their UnaVista service to facilitate transaction reporting for…

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