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 Jazz Loans. Jazz Loans is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
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The Monetary Authority of Singapore (MAS) announced some regulatory changes to strengthen the resilience of finance companies and enhance their ability to provide financing to small and medium sized enterprises (SMEs). Relaxation of business restrictions with enhanced prudential standards Finance companies fill a useful niche in SME financing, complementing the role of banks. They often…
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LeapRate Exclusive... LeapRate has learned from court documents that retail forex broker FXCM Inc (NASDAQ:FXCM), recently banned from the US forex market, has agreed to pay a $650,000 fine in settlement of charges that it was undercapitalized, and slow to report its capital position, in the wake of the January 15, 2015 spike in the value…
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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 Wainscott Consulting Group. Wainscott Consulting Group is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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The Dubai Financial Services Authority (DFSA) has launched the next phase of consultations on its proposed framework for regulating crowdfunding platforms in the Dubai International Financial Centre (DIFC), with a paper detailing its approach to investment-based crowdfunding. The consultation is the second in a series of papers which outline the DFSA’s measures to support the…
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Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has released a list of minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in these particular futures contracts. The information is with effect from the commencement of trading on Monday,…
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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 Halifax and Penn. Halifax and Penn is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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The Securities and Futures Commission (SFC) has commenced legal proceedings in the Court of First Instance to seek disqualification and compensation orders against Mr Tse On Kin, former chairman and executive director of Kong Sun Holdings Limited (Kong Sun) and China Sandi Holdings Limited (China Sandi), for devising a scheme to conceal his interests in…
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On 30 January 2017, ESMA has issued an Opinion, addressed to national regulators in order to ensure a harmonised approach across the EU, in which it sets out the following four high-level principles which UCITS must follow when setting up different share classes: common investment objective; non-contagion; pre-determination; and transparency. It should be noted that…
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The Securities and Futures Commission (SFC) has banned Ms Li Lee, a former employee of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life following her criminal convictions. The District Court earlier found that Li, who was responsible for selling and promoting investment and insurance products at HSBC at the…
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