The European Securities and Markets Authority (ESMA) has published today an updated version of its question and answer document (Q&A) on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing and sale of financial contracts for difference (CFDs) and other speculative products to retail clients, such as binary options and rolling…
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The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), today launched the first of its director training webcasts entitled "Duties of directors and the role and functions of board committees". The first webcast, which followed from the Exchange's news release dated 9 December 2016 that said…
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The Securities and Exchange Commission (SEC) has approved FINRA’s rule proposal addressing financial exploitation of seniors. FINRA today issued Regulatory Notice 17-11 announcing a February 5, 2018 effective date for the rule proposal. The changes approved by the SEC involve two key steps to protect investors: firms will be required to make reasonable efforts to…
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Bats, a CBOE Holdings, Inc. (NASDAQ: CBOE) company, welcomed StrongVest Global Advisers, LLC as a new issuer to the Bats ETF Marketplace. The StrongVest CWA Income ETF (Bats: CWAI), the firm’s first ETF, seeks to achieve its investment objective by investing its assets in a diversified portfolio of corporate bonds with varying maturities and equity…
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Singapore Exchange (SGX) has filed complaints with authorities in China against Wu Xinhua, Executive Chairman and CEO of SGX-listed China Fibretech Ltd. The complaint was made against Wu in relation to several alleged offences under the Chinese Penal Code. The complaint was filed through lawyers appointed in both Singapore and China who have been advising…
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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 Cartwright & Blyth Associates. Cartwright & Blyth Associates is not authorised by the FCA but has been targeting people in the UK and is also carrying…
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The U.S. Securities and Exchange Commission (SEC) today announced fraud charges and an emergency asset freeze obtained against a Michigan-based pastor accused of exploiting church members, retirees, and laid-off auto workers who were misled to believe they were investing in a successful real estate business. The SEC alleges that Larry Holley, the pastor of Abundant…
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U.S. Commodity Futures Trading Commission (CFTC) Acting Chairman J. Christopher Giancarlo today announced the appointment of James McDonald to be the Director of the agency’s Enforcement Division. James McDonald, who was most recently a prosecutor in the Southern District of New York, brings to the agency a successful track record of pursuing white collar and…
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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 Board of Supervisors of the European Securities and Markets Authority (ESMA) announced that has appointed João Sousa Gião, Member of the Board of Directors of the Comissão do mercado de valores mobiliários (CMVM) of Portugal to serve as the chair of the Supervisory Convergence Standing Committee. The standing committees are expert groups drawn from…
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