Court bans Mayfair 101 director for 20 years following ASIC investigation LeapRate

April 19, 2021 BY Steffy Bogdanova

Court bans Mayfair 101 director for 20 years following ASIC investigation

Mawhinney was found to have engaged in conduct that entailed ‘inherently problematic, risky and fatally flawed’ investment schemes in relation to the IPO Capital, Core Notes, M+ Notes and IPO Wealth Fund products. The court also noted that Mawhinney ‘has expressed no contrition or remorse for the very significant loss of investors’ funds’. Mayfair Wealth…

April 12, 2021 BY Steffy Bogdanova

SGX March trading volumes surge

The exchange noted that INR/USD Futures have reached 4.3 million with 27% quarter-over-quarter increase and SGX USD/CNH Futures gained 9% to 2.7 million. SGX stated: SGX set monthly volume records for its USD/SGD, INR/USD and USD/INR (USD) futures in March, reflecting strong demand among global institutional investors to risk-manage Asian currencies. The exchange is Asia’s…

April 02, 2021 BY Steffy Bogdanova

CBA sued by ASIC over misleading conduct

The incorrect fees have been found to be a result of manual errors executed by CBA staff members, as well as improperly configured or inadequate processes and systems which dismissed the fact that a vast number of customers were entitled to waivers on any fees. CBA was also found to have produced misrepresented justifications of…

April 01, 2021 BY Steffy Bogdanova

ASIC bans Binary Options sale to retail clients

ASIC Commissioner Cathie Armour said: Binary options’ product characteristics make them incompatible with investment or risk management use by retail clients. ASIC’s product intervention order will protect retail investors from these harmful products at a time of heightened vulnerability. According to the Commission, retail clients’ net losses from trading binary options are estimated at around…

Muinmos teams up with RHT Compliance Solutions in Singapore

March 31, 2021 BY Steffy Bogdanova

Muinmos to offer its Regulatory Onboarding Engine through RHT Compliance Solutions in Singapore

mPASS is aimed at automated categorisation, suitability and appropriateness checks. This module provides instant clearances on whether Financial Institutions can onboard or keep a client in any country / for any financial service and financial instrument. The clearing process takes under three minutes after which clients are ready to be onboarded. mCHECK deals with relevant…

Macrobond appoints John Leffler as Vice President Americas and Chris Seaman as Regional Managing Director UK

March 29, 2021 BY Steffy Bogdanova

Macrobond hires Ian Hissey as Regional Managing Director as part of Asia expansion

Hissey brings vast knowledge from his previous experience in managing teams focused on portfolio analytics and quantitative analysis in Australia and across APAC. Most recently, he worked at FactSet, where he spent 12 years. His last position at the company, had him based in Tokyo. There he oversaw the company’s rapidly expanding Risk and Quantitative…

March 29, 2021 BY Steffy Bogdanova

ASIC’s CFD trading restrictions come into effect

The Australian regulator decided to strengthen its protection for retail clients after it found that CFDs trading may result in significant loss for retail clients. ASIC Commissioner Cathie Armour commented: We will closely monitor compliance with the product intervention order and won’t hesitate to take appropriate action to enforce the order. Commissioner Armour added: We…

March 25, 2021 BY Steffy Bogdanova

Cboe expands footprint in Australia and Japan with Chi-X Asia Pacific acquisition

Chi-X Asia Pacific has operations in Australia and Japan. Chi-X Australia (CXA) registers 18.4% of the total market share in country and offers trading in all Australian-listed securities, as well as the exclusive trading of CXA quoted warrants and ETFs. Chi-X Japan (CXJ) accounts for 2.7% lit market share, offers four trading books including both…

March 22, 2021 BY Steffy Bogdanova

ICM.com appoints FX veteran Andy Ring as GM of Greater China Region

Shoaib Abedi, CEO of ICM.com commented: We are always looking for new ways to provide our current and future clients with the top-notch support and customer services that ICM has become known for over the past 11 years. We are excited to have Andy leading the company in its success in the Greater China region.…

March 17, 2021 BY Steffy Bogdanova

ASIC implements ten-year ban for Forex CT director

ASIC began civil penalty proceedings in the Federal Court against Forex CT and Shlomo Yoshai on 16 July 2020, after discovering that the sole director’s lack of respect for compliance justified a ban for a significant period of time. Yoshai has now been given a ten- year ban after behaviour on Forex CT’s trading floor…

Tag: APAC