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 Carmine Hoffman Law Firm LLP. Carmine Hoffman Law Firm LLP is not authorised by the FCA but has been targeting people in the UK and is…
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Pursuant to the Articles of Association of Hong Kong Exchanges and Clearing Limited (HKEX), the unclaimed final dividend for 2010 will be forfeited and will revert to HKEX on 27 May 2017. As provided in HKEX’s Articles of Association, any dividend unclaimed after a period of six years from the date for payment of such…
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Hong Kong’s financial regulator the Securities and Futures Commission (SFC) welcomed the re-appointment by the Financial Secretary of Mr Albert Au Siu-cheung as a Non-Executive Director for a term of two years with effect from 26 May 2017. Mr Au was first appointed as a Non-Executive Director of the SFC on 26 May 2015. SFC’s…
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Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…
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The Investor Advisory Panel today released its 2016 Annual Report summarizing its recommendations, activities, submissions, consultations, and meetings during the calendar year. In 2016, the Panel focused on five critical areas of investor protection: conflicts of interest and conflicted compensation, the need for a best interest standard, risk profiling, the Ombudsman for Banking Services and…
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U.S. Commodity Futures Trading Commission Acting Chairman J. Christopher Giancarlo today announced that N. Charles “Charlie” Thornton III has been named the Commission’s Director of the Office of Legislative Affairs. Mr. Thornton comes to the CFTC from the United States Senate Agriculture, Nutrition, and Forestry Committee where he served as Senior Professional Staff and Counsel.…
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Back in summer 2014, LeapRate was first to cover the news of CEO Eric Neo's new project and vision for trading firms to operate in Asia with the latest cutting edge technology in the form of his Trading-Atrium ecosystem. The atrium provides a base for small firms to professionally trade with direct access to financial markets…
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The Dubai Commodities Clearing Corporation (DCCC), a Central Counter Party (CCP) in the region and a wholly owned subsidiary of the Dubai Gold & Commodities Exchange (DGCX), announced today its recognition as a third-country CCP (TC-CCP) by the European Securities and Markets Authority (ESMA). This recognition was granted to the DCCC on March 30 under…
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London Stock Exchange today welcomed the largest Sukuk bond to be issued by a supranational globally in 2017, raising $1.25 billion. Listed by Saudi Arabia based, triple-A rated, Islamic Development Bank, it is a five-year bond with a 2.393% yield and reinforces London’s position as a key global venue for Islamic finance. To date nearly…
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The Securities and Futures Commission (SFC) has reprimanded iSTAR International Futures Co. Limited, now known as Rifa Futures Limited, and fined it $3 million over failures to comply with anti-money laundering regulatory requirements when processing third party fund transfers. An SFC investigation found that between January and July 2014, Rifa took insufficient steps to mitigate…
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