• SFC reprimands and fines BOCI Securities HKD10 million

    The Securities and Futures Commission (SFC) has reprimanded and fined BOCI Securities Limited (BSL) HK$10 million over BSL’s internal system and control failures in its investment product selling practices. BOCI Securities Limited is licensed under the Securities and Futures Ordinance (SFO) to carry on Type 1 (dealing in securities), Type 2 (dealing in futures contracts),...

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  • CySEC reforms Investor Compensation Fund to enhance investor protection

    The Cyprus Securities and Exchange Commission (CySEC) is changing its approach to the compensation of investors. On 13th of March, the Cyprus financial watchdog introduced the final set of reforms to the legal framework governing the operation of the Investor Compensation Fund (ICF). The updated rules reflect the more stringent approach of the Cypriot regulator,...

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  • FCA warns public of investment scams for over £197 million losses

    The Financial Conduct Authority (FCA) is warning investors to be vigilant to the threat posed by investment scammers, as data from Action Fraud reveals over £197 million of reported losses in 2018. Victims were scammed out of over £29,000 on average last year, as fraudsters employed increasingly sophisticated tactics to persuade victims to invest. Most...

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  • South Korean Regulator Fines Four Global Banks for Rigging FX

    The Fair Trade Commission (FTC) has fined four global banks operating in Korea for illegally sharing information and colluding in price bids to win foreign exchange derivatives contracts from five Korean companies. Foreign exchange derivatives refer to financial products designed to avoid the risks of the exchange rate and interest rate fluctuations in foreign exchange...

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  • Japanese Crypto Exchange Zaif has been hacked, losing around $60 million

    Japan-based cryptocurrency exchange Zaif has been hacked, losing a 6.7 billion yen (about $60 million worth of cryptocurrency), including 5,966 bitcoins. Zaif exchange is one of the major Japanese cryptocurrency exchanges. It is owned by Osaka-based Tech Bureau and licensed by the Japanese regulator Financial Services Agency (FSA). Tech Bureau reported that after the investigation...

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  • CySEC Warns CIF licensed FX brokers about Offering Their Services in Russia

    The Cyprus Securities and Exchange Commission (CySEC) has issued a statement warning the regulated forex Cyprus Investment Firms (the ‘CIFs’) about offering their services to the clients from Russia unless they have a license in that country. The Cyprus Securities and Exchange Commission, better known as CySEC, is the financial regulatory agency of Cyprus. It...

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  • FxPro Announces Partnership Agreement with McLaren F1 Team

    FxPro, a London-based foreign exchange brokerage, has announced about a multi-year partnership agreement with Mclaren F1 Team. Terms of the sponsorship deal were not disclosed, but it was confirmed that FxPro prominent branding will now appear on McLaren cars during all F1 races. The FxPro logo will appear on the MCL33 car from this weekend’s...

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  • SFC has released consultation conclusions on amendments to the PI Rules

    The Hong Kong Securities and Futures Commission (SFC) today released consultation conclusions on proposed amendments to the Securities and Futures (Professional Investor) Rules (PI Rules). These amendments are meant to standardise the rules for prescribing professional investors. The consultation paper was issued on 1st of March 2017 and was proposing the the number of amendments...

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  • BNP Paribas Asset Management obtains QDLP license in China

    BNP Paribas Asset Management (BNPP AM) announced that its wholly foreign-owned enterprise, BNP Paribas Overseas Investment Fund Management (Shanghai), has been granted a qualified domestic limited partner (QDLP) qualification. The company says it is going to be the first fund manager in the world with QDLP license to offer environmental, social and governance (ESG) investments...

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  • Barclays CEO Jes Staley fined over £642,000 by the FCA and PRA

    The UK’s Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) have fined the former Barclay’s chief over lack of supervision of whistleblowing. The fine included a 30 percent discount for Staley agreeing at an early stage to settle. The UK regulators have also reported about specific requirements regarding whistleblowing systems...

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