US watchdog grants compliance relief to hurricane-hit firms
29th September 2017
US watchdog grants compliance relief to hurricane-hit firms
The Securities and Exchange Commission is to grant regulatory relief to publicly traded and investment companies, accountants and others affected by the recent Hurricanes Harvey, Irma and Maria, it said. The agency has issued an order which conditionally exempts affected persons from certain requirements of the federal securities laws… Read More
Hong Kong, UK fintech deals could ‘help flag-up fraud’
29th September 2017
Hong Kong, UK fintech deals could ‘help flag-up fraud’
In line with efforts to step up compliance and boost opportunities for its fintech industry, Hong Kong has entered into its third cooperation agreement with British regulator the Financial Conduct Authority (FCA). The latest agreement is between the FCA and the Hong Kong Insurance Authority, and will see the two… Read More
Sanctions: China orders North Korean firms to shut down
29th September 2017
Sanctions: China orders North Korean firms to shut down
China has ordered North Korean-owned companies to close, as it implements UN sanctions imposed over the reclusive state’s nuclear programme. The businesses in its territory will have to close within 120 days of the passing of the UN Security Council’s 11 September resolution of the sanctions. The move will… Read More
Europe: Rise in small-dollar terrorism funded by ‘legitimate’ sources
28th September 2017
Europe: Rise in small-dollar terrorism funded by ‘legitimate’ sources
Most jihadist terrorist attacks carried out in Europe since 2015 have been funded using “legitimate” sources such as savings accounts and loans, according to a leading academic in the field. Professor Peter Neumann, director of the International Centre for the Study of Radicalisation, told the Financial Times’ Combating Illicit Trade… Read More
Bitcoin: Fund drops US exchange listing application
28th September 2017
Bitcoin: Fund drops US exchange listing application
An effort to allow investors to trade digital currencies as easily as stocks in the United States stumbled when the backer of a bitcoin fund said an application to list on an exchange had been withdrawn. Grayscale Investments LLC said Intercontinental Exchange Inc’s (ICE.N) NYSE Arca exchange withdrew a request… Read More
Spain: Marbella FC raided, arrests in Russian mafia sting
28th September 2017
Spain: Marbella FC raided, arrests in Russian mafia sting
MORE than 100 Guardia Civil officers were involved in a series of raids across Malaga Province which saw the arrest of 11 Russians including the multi-billionaire president of Marbella FC. The action was taken against suspected members of a Russian mafia group and officers believe that between them, those arrested… Read More
Brexit: Regulatory group unveils plans for free trade deal
26th September 2017
Brexit: Regulatory group unveils plans for free trade deal
Britain is being urged to adopt a “bold and ambitious” plan for a post-Brexit trade deal, revealed this morning by an elite taskforce of City experts in a report. The report calls for mutual recognition based on regulatory alignment and supervisory co-operation, a joint dispute resolution body, and a forum… Read More
Morgan Stanley ordered to pay $13m in fines, restitution
25th September 2017
Morgan Stanley ordered to pay $13m in fines, restitution
The US’ Financial Industry Regulatory Authority said on Monday it ordered Wall Street investment bank and securities brokerage Morgan Stanley to pay $13 million in fines and restitution to clients for inadequately supervising certain short-term trades. FINRA, the securities industry’s self-regulator, said that between January 2012 and June 2015 hundreds… Read More
China limits oil trade to N.Korea, bans textile trade
25th September 2017
China limits oil trade to N.Korea, bans textile trade
China has moved to limit North Korea’s oil supply and will stop buying textiles from the politically isolated nation, it said on Saturday. China is North Korea’s most important trading partner, and one of its only sources of hard currency. Read More
Tax evasion: India’s Sebi lifts ban on 244 entities
22nd September 2017
Tax evasion: India’s Sebi lifts ban on 244 entities
Regulator Sebi has lifted trading ban on 244 entities which came under the scanner for alleged misuse of stock market platform for tax evasion, saying it did not find any “adverse evidence” against them. The move comes after Securities and Exchange Board of India (Sebi) earlier this month revoked ban… Read More
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