Money Archives - The Industry Spread

MAS to Issue Up to Five Digital Bank Licences

July 4, 2019

The Monetary Authority of Singapore (MAS) announced today that it will issue up to five new digital bank licences. This is in addition to any digital banks that the Singapore banking groups may also establish under the existing internet banking framework introduced in 2000.  The move announced today extends digital bank licences to non-bank players.

SEC Announces 2019 Government-Business Forum to Be Held in Omaha

June 16, 2019

The Securities and Exchange Commission today announced that it will host the 38th annual Government-Business Forum on August 14, 2019, in Omaha, Nebraska.  The Forum provides a platform to highlight perceived impediments to capital formation, culminating in recommendations for government and private action to improve the environment for small businesses.  The Forum will be hosted in partnership with the Heider College of Business at Creighton University.

The Federal Council adopts dispatch on AEOI with 19 Further Partner States and Approves First Review Report

June 6, 2019

Bern, 29.05.2019 – During its meeting on 29 May 2019, the Federal Council adopted the dispatch on the introduction of the automatic exchange of financial account information (AEOI) with 19 further partner states. Entry into force is planned for 2020 with the first exchange of data in 2021. Furthermore, the Federal Council has approved the report on the review mechanism for standard-compliant implementation of the AEOI by partner states.

FMA Research Highlights Gap Between What Investors Expect and What Auditors Deliver

May 26, 2019

An FMA research project with investors, directors, managers and auditors has identified reasonable levels of confidence in audit quality, but also a serious gap in the expectations of investors and what auditors deliver. The FMA commissioned the research to better understand public and industry perceptions of audit quality in New Zealand.

GFSC Welcomes New Board Member

May 14, 2019

The Gibraltar Financial Services Commission ( GFSC ) is pleased to announce the appointment, by the Minster for Commerce, of Emilio Gomez to its Board. The designation comes after Emma Perez finished her tenure on the Board, in December 2018. 

FCA Changes Mortgage Advice Rules to Encourage Consumer Choice

May 11, 2019

The Financial Conduct Authority (FCA) has today published proposals for changes to its mortgage advice rules which will help to give consumers more choice in how they buy a mortgage.The proposals are one part of a package of remedies from the Mortgages Market Study, published earlier this year, which aims to encourage innovation and make it easier for customers to find the right mortgage.

Former Financial adviser Pleads Guilty to Dishonestly Obtaining Client Funds

May 10, 2019

Former financial adviser, Mr Trevor William Martin, has pleaded guilty in the District Court of NSW, to three counts of dishonestly obtaining client funds under the NSW Crimes Act.An ASIC investigation found that between 1 June 2011 to April 2015, Mr Martin, formerly of Kiama, NSW, dishonestly obtained approximately $208,000 from clients