Canadian securities regulators provide guidance for disclosure improvements LeapRate

March 17, 2017 BY Valentina Kirilova

Canadian securities regulators provide guidance for disclosure improvements

The securities regulatory authorities in Ontario, Alberta, and Saskatchewan (the participating jurisdictions) released CSA Multilateral Staff Notice 51-349 Report on the Review of Investment Entities and Guide for Disclosure Improvements, which summarizes key findings from an Ontario Securities Commission (OSC) staff review of the continuous disclosure of reporting issuers that meet the definition of an…

March 17, 2017 BY Valentina Kirilova

Hong Kong SFC adds www.oncediy.com website to its alert list

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…

March 17, 2017 BY Valentina Kirilova

FCA warns against a subsidiary of Barclays Africa Group clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm ABSA Wealth Management. 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…

March 17, 2017 BY Valentina Kirilova

Hong Kong SFC adds Southbourne Group to its alert list

March 17, 2017 BY Valentina Kirilova

ASIC reports on how large financial advice firms have dealt with poor advisers

ASIC has today released the findings of its review of how Australia's largest financial advice firms have dealt with past poor advice and non-compliant advisers, including how these firms have dealt with affected customers. The review—which forms part of ASIC’s broader Wealth Management Project—was focussed on the conduct of the financial advice arms of AMP,…

March 16, 2017 BY LeapRate Staff

Will MiFID II regulations impact U.S. asset managers?

The following guest post is courtesy of Ivy Schmerken, Editorial Director at FlexTrade. North American broker-dealers and asset managers domiciled in the U.S. are watching their European counterparts gear up for compliance with MiFID II. But will MiFID II affect U.S. broker-dealers and asset managers based in the U.S.? Could the massive regulation that requires…

March 16, 2017 BY Valentina Kirilova

Hong Kong SFC adds China Asia Pacific Assets & Property Rights Exchange Limited to its alert list

March 16, 2017 BY Valentina Kirilova

ASIC disqualifies former director from managing companies

Michael Ian Davey, of Slacks Creek, Queensland, has been banned by ASIC from managing corporations for two and a half years. Mr Davey's banning follows the appointment of liquidators to two companies he managed, Refractory Construction Pty Ltd (formerly known as Total Refractory Management Pty Ltd) and A4dable Geeks Pty Ltd. As a result of…

March 15, 2017 BY Valentina Kirilova

ACFX license (finally) suspended by CySEC, a year after closing

The Cyprus Securities and Exchange Commission (CySEC) announced that, on its meeting of 13th February 2017, has decided to wholly withdraw the Cyprus Investment Firm authorization with number CIF 085/07 of Atlas Capital Financial Services Ltd. (ACFX). The company is operating at https://www.acfs.eu and https://www.acfx.com. ACFX basically shut down its operations, with several million dollars…

March 15, 2017 BY Valentina Kirilova

Category: Regulation