FCA Archives - Page 5 of 14 - The Industry Spread

Eric J. Pan, Director of CFTC’s Office of International Affairs, to Leave the Agency

June 29, 2019

Since 2015, Pan has led the office that advises the Commission on all international regulatory initiatives, provides guidance regarding international issues raised in CFTC matters, represents the agency in international groups (such as the Financial Stability Board (FSB)), standard setting bodies (such as the International Organization of Securities Commissions (IOSCO)) and bilateral fora, and provides technical assistance to non-U.S. authorities.

Joint Statement on Opportunistic Strategies in the Credit Derivatives Market

June 28, 2019

U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton, U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo, and U.K. Financial Conduct Authority (FCA) Chief Executive Andrew Bailey issued the following joint statement regarding the credit derivatives market

Shanghai-London Stock Connect Approved by Regulators

June 20, 2019

The connection will allow Shanghai-listed Chinese companies to apply to be admitted to trading on a newly formed Shanghai Segment of London Stock Exchange’s Main Market. Companies with a premium listing in the UK will be able to apply for admission to the Main Board of the SSE.

FCA Confirms Biggest Shake-up to the Overdraft Market for a Generation

June 16, 2019

The Financial Conduct Authority (FCA) has today confirmed it is introducing reforms to fix a dysfunctional overdraft market. These changes will make overdrafts simpler, fairer, and easier to manage and will protect the millions of consumers that use overdrafts, particularly more vulnerable consumers. The changes represent the biggest overhaul to the overdraft market for a generation.

FCA Confirms New Rules for P2P Platforms

June 10, 2019

Following consultation, the Financial Conduct Authority (FCA) is introducing rules designed to prevent harm to investors, without stifling innovation in the peer-to-peer P2P Platforms. When the FCA set its first rules for P2P, it committed to keep these under review as the sector evolved. These new rules are designed to help better protect investors and allow firms and fundraisers to operate in a long-term, sustainable manner.

FCA Publishes Decision Notices Concerning Cathay International Holdings Limited, its CEO and Finance Director

June 10, 2019

The Financial Conduct Authority (FCA) has today published Decision Notices concerning Cathay International Holdings Limited and 2 of its directors, Mr Jin-Yi Lee and Mr Eric Siu.

The FCA considers that Cathay breached the FCA’s Listing Principles and Disclosure Rules and Transparency Rules (DTR) and has imposed a fine of £411,000. In the FCA’s view, Mr Lee was knowingly concerned in the company’s breaches and so has been fined £214,300. The FCA also considers that Mr Siu was knowingly concerned in one of the company’s breaches and so has been fined £40,200.

Valutrades Debuts its Institutional Sector Desk Co-Headed By Thwaytes & Foster

June 8, 2019

UK based FCA regulated Forex ECN brokerage house Valutrades is now branching out into institutional sector. Having always focused on retail sector, the companies to move to branch out into institutional sector was made post recent changes to regulatory conditions in European market. In the firm’s bid to hasten and spearhead their expansion into institutional sector the firm has arranged for two of its non-executive directors to step down from their roles.

MAS Imposes Civil Penalty of $336,000 on Mr Tham Wai Mun Raphael for Insider Trading

June 6, 2019

The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $336,000 on Mr Tham Wai Mun Raphael for insider trading. He had sold shares in Auhua Clean Energy PLC (ACE), a company listed on the Alternative Investment Market of the London Stock Exchange, while in possession of non-public and price-sensitive information concerning the company.