The Court of First Instance has dismissed the appeal of Hong Kong Game Theory Association Limited (Hong Kong Game Theory) and its sole director Mr Sze Ching Lok against their convictions for carrying on a business in advising on futures contracts without a licence, Hong Kong SFC announced earlier today. In dismissing the appeal, Deputy…
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The U.S. Commodity Futures Trading Commission (CFTC) has announced that it entered into non-prosecution agreements with Jeremy Lao of New York, Daniel Liao of Minato-Ku, Japan, and Shlomo Salant of New York. In their non-prosecution agreements, Lao, Liao, and Salant each admits that he engaged in the unlawful disruptive trade practice of “spoofing” (bidding or offering with…
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The U.S. Commodity Futures Trading Commission (CFTC) has announced the filing and simultaneous settlement of charges against Rosenthal Collins Capital Markets, LLC, now known as DV Trading LLC (RCCM), of Chicago, Illinois, for engaging in illegal wash sales in order to generate rebates of exchange fees based upon increased trading volumes. The CFTC Order requires RCCM to…
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Hong Kong Exchanges and Clearing Limited (HKEX) and The Chinese Gold and Silver Exchange Society (CGSE) signed a Memorandum of Understanding (MOU) to consider cooperation on matters ranging from product promotion to storage vaults. Christopher Hui, Managing Director for Market Development and Head of Project Management at HKEX, and Brian Fung, Chief Executive Officer at…
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Toronto Stock Exchange (TSX) today provided an update on the progress of TSX NAVex, its centralized mutual fund solution. Across the mutual fund industry, interest continues to grow as Canadian dealers and fund providers converge on the platform in preparation for trading. TSX NAVex recently welcomed National Bank of Canada and the National Bank Correspondent…
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Bats, a CBOE Holdings, Inc. (NASDAQ:CBOE) company, and a market for exchange-traded products (ETP) trading globally, announced that has welcomed a new TrimTabs’ ETF to the Bats ETF Marketplace. The TrimTabs All Cap International Free-Cash-Flow ETF (Bats: TTAI) will seek to generate long-term returns in excess of the total return of the S&P Developed ex-U.S.…
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The Securities and Exchange Commission (SEC) announced that has charged a Canadian-based oil and gas company and three of its former top finance executives for their roles in an extensive, multi-year accounting fraud. The SEC's complaint alleges that Penn West Petroleum Ltd., which has since been renamed Obsidian Energy Ltd., fraudulently moved hundreds of millions…
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The Ontario Securities Commission (OSC) announced that has approved a no-contest settlement agreement with RBC Dominion Securities Inc., Royal Mutual Funds Inc., and RBC Philips, Hager & North Investment Counsel Inc. (the RBC Registrants) in relation to a matter that the RBC Registrants discovered and self-reported to the OSC. This settlement follows allegations by OSC…
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Hong Kong Exchanges and Clearing Limited (HKEX) has published a consultation paper to seek views on its proposed after-hours trading (T+1 Session) enhancements. The proposed changes include: Extending the T+1 Session for equity index futures from the current 5:15 pm to 11:45 pm to 5:15 pm to 3:00 am the following day in two phases;…
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The European Securities and Markets Authority (ESMA) has issued a statement updating on its work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors. ESMA is likely to look at enacting rules limiting leverage for Forex and CFD trading, banning of client bonuses, as well…
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