Category: Financial Services

March 14, 2017 BY Valentina Kirilova

IOSCO launches its first Regional Capacity Building Hub in Malaysia

The International Organization of Securities Commissions (IOSCO) today unveiled the IOSCO Asia Pacific Hub in Kuala Lumpur, hosted by the Securities Commission (SC) Malaysia. This initiative responds to a growing demand among IOSCO members for enhanced capacity building, particularly in growth and emerging markets. Ranjit Ajit Singh, Chair of SC Malaysia, Vice Chair of the…

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March 14, 2017 BY Valentina Kirilova

SFC reprimands and fines Zhongtai International Securities Limited $2.6 million

The Securities and Futures Commission (SFC) has reprimanded Zhongtai International Securities Limited, formerly known as Qilu International Securities Limited (Zhongtai), and fined it $2.6 million for failures in complying with anti-money laundering regulatory requirements when handling third party fund deposits. The SFC found that between January 2013 and December 2014 (Relevant Period), Zhongtai failed to:…

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March 14, 2017 BY Valentina Kirilova

Tadawul and Japan Exchange Group, Inc. sign an MOU

The Saudi Stock Exchange “Tadawul” and the Japan Exchange Group, Inc. (JPX) signed a Memorandum of Understanding (MoU),on March 14, 2017, that will formalize and develop further cooperation between the two exchanges. The memorandum signed by Eng. Khalid Alhussan, Chief Executive Officer of the Saudi Stock Exchange “Tadawul” and Mr. Akira Kiyota, Chief Executive Officer…

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March 14, 2017 BY Valentina Kirilova

FCA warns against Allied Capital Consultants firm

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 Allied Capital Consultants. Allied Capital Consultants is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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March 14, 2017 BY Valentina Kirilova

CFTC extends comment period on proposed capital requirements of swap dealers and major swap participants

The U.S. Commodity Futures Trading Commission (CFTC) announced that it is extending the comment period on its proposed capital requirements applicable to swap dealers and major swap participants for an additional 60 days. The original comment period was to expire March 16, 2017. As extended, the comment period will expire on May 15, 2017. Notice…

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March 13, 2017 BY Valentina Kirilova

FCA warns against Swiss Life clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Swiss Life. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…

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March 13, 2017 BY Valentina Kirilova

The Financial Stability Board publishes consultation on UTI Governance

The Financial Stability Board (FSB) published a consultation document on Proposed governance arrangements for the unique transaction identifier (UTI). The consultation sets out proposals for the governance arrangements for a global UTI, as a key harmonised identifier designed to facilitate effective aggregation of transaction reports about over-the-counter (OTC) derivatives markets. G20 Leaders agreed at the…

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