Mung also failed to ensure transactions undertaken on behalf of the client were given priority over orders for his own account in the period between May 2017 and March 2018. In SFC’s decision to impose a fine on Ewarton, the regulator took into consideration the duration of the company’s misconduct. The Commission also took into…
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GOLD The dollar’s recovery attempt hasn’t curbed the strength of gold seen in the last few days. The price is challenging the resistance zone at $1,900, while the main trend still appears positive for bullion as investors' interest for gold has returned. From a technical point of view, gold looks on track to continue its…
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In the official announcement, HSBC also said it is planning to sell parts of its business to other US companies. The London-based lender revealed it has agreed to sell its East Coast retail unit, which includes 800,000 customers and 80 branches, to Citizens Bank. Cathay Bank is planning to buy the company’s retail business in…
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Additionally, IC Markets have also added a wide range of long-established NASDAQ and NYSE listed companies such as Anheuser Busch Inbev SA, Ralph Lauren Corp and Coca-Cola European Partners. IC Markets have also added digital currency CFDs. The new offer includes Polkadot, Stellar and Chainlink and can be traded across the broker’s MT4 and MT5…
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The announcement said: Under the Corporations Act 2001 and National Consumer Credit Protection Act 2009, ASIC may suspend or cancel an AFSL and ACL if the licensee is no longer providing financial services, ceases to engage in credit activities or fails to meet its legal obligations. This includes its obligations to lodge financial statements, auditor’s…
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A large portion of the new-found regulatory issues are because Crypto miners are using increasingly strong and bespoke tech equipment – often referred to as rigs - to certify virtual coin trades within a process which creates freshly minted cryptocurrencies, including the likes of bitcoin. Speaking of China’s latest crackdown, Chen Jiahe, Chief Investment Officer…
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The official announcement said: The Board would like to express its sincere gratitude to Mr Tai for his leadership and dedication to HKEX as Interim Chief Executive. Mr Tai has confirmed that he has no disagreement with the Board and that he is not aware of any matters relating to his cessation as Interim Chief…
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Referring to the Corporations Act 2001, ASIC also alleges that the aforementioned bonus payments were a breach of the prohibition of conflicted remuneration. This is said because the bonuses could, on obvious grounds, be an influencing factor in the financial product advice given by the advisors. The bonuses could have similarly influenced the choice of…
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James Miller, NZX Chair, commented: We see our participation and support for the Future Directors Programme, alongside other leading Kiwi companies, as important to growing the size and depth of the pool of directors we have available in New Zealand. Newman brings a wealth of diverse private and public-sector experience from Australia, New Zealand, and…
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Marie’s ban is connected to five defective Product Disclosure Statements (PDSs) for the SIT, under which a total of $16,710,669 was raised from retail investors from 20 May 2016 to 1 May 2018. ASIC had previously commenced civil penalty proceedings against Theta issuing the defective PDSs. ASIC found that Marie failed to comply with his…
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