Regulation

HKMA-SFC Issue Joint Consultation Conclusions on OTC Derivatives

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The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have jointly published their conclusions on a public consultation on OTC derivatives reporting.
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Breaking: New Zealand FMA’s Phase Two Slated to Take Effect, Major Shift Coming?

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Phase two of New Zealand’s Financial Markets Authority (FMA) is poised to take effect December 1, ushering in a new era of capital markets and financial services laws that will revamp investor disclosure.
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Binary Broker Ventures with the FCA After Claiming Audit by a Venture Capital Firm

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Fraudsters continue their ventures, as the UK Financial Conduct Authority has issued a public warning about binary options brokerage Mayfair23 claiming to be audited by UK venture capital firm Scottish Equity Partners.
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Niall O’Riordan UBS Chief Currency Dealer under Investigation for FX Rigging Case

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Swiss authorities investigating UBS employees involved in the FX rates manipulation case have published the names of those in question. Media reports state that 11 peoples names were noted.
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CFTC Pardons Family Offices from Registration as Commodity Trading Advisor

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Family offices in the UNited States will be exempt from registering as CTAs under a no-action relief letter issued by the US main financial watchdog for financial derivatives trading, the CFTC.
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US Authorities Sanction Banking Giant HSBC for Breaching Federal Securities Laws

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Global banking firm, HSBC settles $12.5 million fine with US securities watchdog for dealings with US clients. The bank’s Swiss Private Banking arm failed to register with the North American watchdog.
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ISDA Releases Principles on CCP Recovery, Risk Mitigation

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The International Swaps and Derivatives Association, Inc. (ISDA) has announced the publication of essential principles on both the adequacy and structure of central counterparty (CCP) loss-absorbing resources.
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Cyprus Watchdog Suspends EZTrader Financial License over Three Alleged Violations of the Law

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The decision was reached taking into serious consideration that the alleged violations may possibly endanger the interests of the clients of EZTrader (WGM Services Ltd) and the operation of the capital market.
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ASIC Bans ‘Vault Market’ and Sole Director from Aussie Retail Market

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ASIC’s crackdown on the FX industry is continuing unabated with yet another rogue margin FX operator shut down. With “several more investigations afoot”, expect 2015 to yield a bumper crop of fees for the regulator.
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FOFA Bandwagon Takes Unexpected U-Turn as Advisors Brace for Compliance Quagmire

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With regulators in the process of reforming financial regulation worldwide, the Australian Senate gets involved by voting to repeal previous regulation designed to protect retail investors. Political games in economic circles.
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