Afterwards, Lam transfered these amounts from the payroll accounts back into his mother’s personal bank account without the knowledge or authorisation of the five customers. According to the financial markets regulator, Lam’s mother aimed to improve his performance at SCB. As a result, the bank gave Lam $4,520 as additional quarterly incentive after including in…
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Additionally, the company also revealed its plans for consolidation of ACY Securities, the financial services arm, and Zerologix, the sister technology arm of the ACY Group to form ACYLogix Pty Ltd, a new holding company. Jimmy Ye, Chief Executive Officer at ACY Securities said: Once the consolidation has been successfully executed, PWC will then formally…
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The Aussie watchdog discovered that Sirius Financial has breached its licence obligations failing to adequately address Toyga’s conduct. Furthermore, ASIC found that Pecyna and Schneider were involved in Sirius Financial’s breaches. Moreover, ASIC deemed them not “adequately trained or competent”. ASIC stated that the two former directors lacked professionalism and integrity for their management roles.…
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BlackBull Markets noted that they have informed the relevant authorities and are taking all necessary legal action. The firm stated: We have been in communication with clients who have alerted us to the fact that they have been defrauded through this website. There has recently been an increasing trend of scammers attempting to impersonate BlackBull…
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Teresa Teague, Director at Gopher, commented: Gopher is delighted to have completed the acquisition of Finalto. We have been impressed by the strength of Finalto’s business and management team and look forward to working closely with the team to accelerate Finalto’s ambition to become the global partner of choice in the financial trading sector. Meanwhile,…
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Dominic Stevens, ASX’s Managing Director and CEO, commented: We thank Gill for her service. She leaves ASX with a strong Finance and Facilities team in place, which is well positioned to continue to deliver for our stakeholders. She will continue to guide ASX through the next two months of our year-end activities until her departure.…
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BGC is establishing electronic platforms and voice / hybrid listed brokerage desks in major financial centers in anticipation of an active OTC wholesale cryptocurrency marketplace, so that it can facilitate the expected growth in this sector. Brad Howell, CEO Asia Pacific* for BGC, commented on today's announcement: We are delighted to partner with Cumberland and…
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Out of the total number, investment scams accounted for the highest loss with $701 million in 2021, followed by payment redirection scams and romance scams which with losses of $227 million and $142 million, respectively. The increasing popularity of cryptocurrency has contributed to the growing amount of investment scams, according to the report. The ACCC…
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HKEX Group Chief Financial Officer, Vanessa Lau, commented: We are pleased to welcome Kian Hoe to HKEX and to the Finance team. Kian Hoe brings with him over two decades of treasury experience and has an excellent track record in running significant regional treasury functions. He will play an important role in supporting the long-term…
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The SFC noted that in practice CESHK failed to manage and invest the funds' assets and investments on a discretionary basis as required by the regulator. Instead, the decision when to invest was up to the fund’s directors. The firm considered that its main investment objective was for making sure that the funds’ assets were…
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