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ASIC

Former Chair of G8 Education Limited Committed to Stand Trial

Jennifer Joan Hutson, of Red Hill, Queensland, has been committed to stand trial on 29 charges after a committal hearing before the Brisbane Magistrates’ Court. The charges were brought by ASIC following an investigation into…

US Securities and Exchange Commission - VALIC

SEC Charges CEO and Company With Defrauding First Responders and Others Out of Millions

Washington D.C., July 30, 2020 — The Securities and Exchange Commission - SEC today announced charges against a San Antonio-area businessman and his company for running a multimillion-dollar fraudulent scheme that victimized scores of investors,…

MAS

MAS Announces Extension of the US$60 Billion Swap Facility with the US Federal Reserve and the MAS USD Facility

Singapore, 30 July 2020…The Monetary Authority of Singapore (MAS) announced today that it will continue to provide US Dollar (USD) via the MAS USD Facility following the extension of MAS’ US$60 billion swap arrangement with…

FIATECH

Political experts weigh in on FTT, CFTC reauthorization and November election

US President Donald Trump would lose in a landslide if the election was held today, according to the analysis of Charlie Cook, editor and publisher of the Cook Political Report, who spoke in an exclusive virtual event for FIA members. As a result, there…

BOIPB, insurance

Enforcement Action Notice: The Governor and Company of the Bank of Ireland fined €1,660,000 and reprimanded by the Central Bank of Ireland for regulatory breaches

Enforcement Action Notice: The Governor and Company of the Bank of Ireland fined €1,660,000 and reprimanded by the Central Bank of Ireland for regulatory breaches causing loss to a client and for misleading the Central…

ASIC

ASIC Consults on Remaking Class Order on Notification Requirements for Unlicensed Carried over Instrument Lenders and Clarification of Credit Disclosure Obligations

Australian Securities and Investments Commission - ASIC today released a consultation paper (CP 331) proposing to remake two class orders that are due to expire (‘sunset’) on 1 October 2020 and 1 April 2021. The…

region

Reserve Bank paper finds unemployment in one region can affect another

Studying changes in job levels in the Auckland and Waikato regions could provide a more accurate indicator of where the country’s labour market is heading, according to a new Reserve Bank paper. The Analytical Note Regional…

BCSC

BCSC Alleges Burnaby Resident Engaged in Unregistered Trading and Advising

Vancouver – The Executive Director of the British Columbia Securities Commission (BCSC) alleges a Burnaby resident committed unregistered trading and advising. In 2016, Shijun “Clark” Zhu entered into investment agreements with five investors. As a result, he…

MAS

MAS Calls on Local Banks to Moderate FY2020 Dividends

Singapore, 29 July 2020… the Monetary Authority of Singapore (MAS) has called on locally-incorporated banks headquartered in Singapore (“Local Banks”) to cap their total dividends per share (“DPS”) for FY2020 at 60% of FY2019’s DPS,…

ASIC

ASIC Bans Hobart Adviser for Five Years

ASIC has banned Hobart-based financial adviser David Horton from providing financial services for five years for failing to comply with financial services laws. ASIC found that, while he was an authorised representative of Meritum Financial…