financial products Archives - The Industry Spread

CFTC and SEC Invite Public Comment on a Joint Proposal to Align Margin Requirements for Security Futures With Requirements for Similar Financial Products

July 15, 2019

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) (together, the Commissions) have approved a joint proposal to align the minimum margin required on security futures with other similar financial products. The proposal would set the minimum margin requirement for security futures at 15 percent of the current market value of each security future.

CFPB Highlights of Director Kraninger’s First Six Months

June 19, 2019

CFPB Highlights  June 11th marks the first six months of Director Kathleen L. Kraninger leading the Consumer Financial Protection Bureau. Launched an initiative, Start Small, Save Up, to increase emergency savings among consumers;
Expanded the Misadventures in Money Management financial education tool for active-duty servicemembers; 
Educated consumers about mortgage closing scams; 

ASIC Updates Information for Businesses on ICOs & Crypto-Assets

May 31, 2019

ASIC has updated Information Sheet 225 Initial coin offerings and crypto-assets (INFO 225) based on our recent experiences with ICOs and crypto-assets, which indicate that ICOs and crypto-assets will often be financial products or involve financial products that are regulated under the Corporations Act.

Choosing a Financial Professional

May 3, 2019

At some point you may turn to a financial professional for help, particularly if you’re trying to achieve different goals – such as planning for retirement, financing children’s education, and buying a home. Before you begin the search for a financial professional, you need to identify the type of help you need. Essentially there are two types of financial professionals you might consider working with—brokers and investment advisers.

Some AFS Licensees May be Breaking Overseas Laws

April 14, 2019

Australian financial service (AFS) licensees that offer OTC derivatives to retail investors located in some overseas jurisdictions may be breaking overseas laws providing unlicensed or unauthorised services in those jurisdictions.

MAS Bans Three Individuals for Fraudulent and Dishonest Conduct

April 12, 2019

The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against two former bank employees and a former insurance agent for fraudulent and dishonest conduct. The POs were issued against Ms Tang, Mr Nguyen and Mr Koh following their convictions in the State Courts of Singapore for offences involving fraud and dishonesty. The three court cases are not related. The ban against the three individuals took effect from 5 April 2019.

Former Sydney FX Trader Sentenced for Falsifying Trading Entries

February 15, 2019

Former Sydney Deutsche Bank FX options and futures trader, Andrew Donaldson, has been sentenced in the District Court in Sydney to 18 months imprisonment after pleading guilty to falsifying trading entries in Deutsche Bank’s internal financial records and systems.