News Centre

Shanghai International Energy Exchange Has Released Its Circular On The Approval Of BANDS Financial Limited As Overseas Special Brokerage Participant

Date 06/11/2020

Shanghai International Energy Exchange has released its Circular on the Approval of BANDS Financial Limited as Overseas Special Brokerage Participant as follows:

Upon deliberation of the Board of Directors, and in accordance with the Overseas Special Participants Management Rules of the Shanghai International Energy Exchange and relevant provisions, Shanghai International Energy Exchange (INE) hereby approves BANDS Financial Limited to be the Overseas Special Brokerage Participant of INE.

Japan's Financial Services Agency: Public Consultation On Cabinet Office Order To Partially Amend Cabinet Office Order On Financial Instruments Business, Etc., The Ordinance To Partially Amend The Ordinance On Financial Services Providers' Deposit For Operation And Regulatory Notices

Date 06/11/2020

The Financial Services Agency (“FSA”) has now launched a public consultation on Cabinet Office Order to partially amend Cabinet Office Order on Financial Instruments Business, etc., the Ordinance to partially amend the Ordinance on Financial Services Providers' Deposit for Operation and Regulatory Notices.

New Zealand Financial Markets Authority Releases Standard Conditions For Licensing Of Financial Advice

Date 05/11/2020

The Financial Markets Authority (FMA) has released the final standard conditions for a full Financial Advice Provider licence and confirmed three classes of financial advice service, following an extensive consultation with the industry.

ASIC: Former Macquarie Financial Adviser Charged With Dishonesty Offences

Date 05/11/2020

On 30 October, following an ASIC investigation, former financial adviser Mr Warren Scott Acworth appeared before Brisbane Magistrates Court charged with 27 offences, namely:

• 16 counts of making false or misleading statements contrary to sections 1041E(1) and s1311(1) of the Corporations Act with each offence carrying a maximum penalty of 10 years’ imprisonment and/or a fine varying between $810,000 and $945,000;
• six counts of making a statement that was false contrary to section 64 of the ASIC Act (Cth) with each offence carrying a maximum penalty of two years’ imprisonment and/or a fine of $21,000; and
• five counts of to fraud contrary to section 408C(1)(e) of the Criminal Code (Qld) with maximum penalties varying between 14 and 20 years’ imprisonment. 

British Columbia Securities Commission Panel Rejects Request To Unlock Registered Retirement Accounts

Date 05/11/2020

A panel of the British Columbia Securities Commission (BCSC) has dismissed Earle Douglas Pasquill’s effort to remove a preservation order preventing him from withdrawing or transferring funds from his registered retirement accounts.

Playing The Long Game: The Intersection Of Climate Change Risk And Financial Regulation, Commissioner Allison Herren Lee, Nov. 5, 2020 - Keynote Remarks At PLI’s 52nd Annual Institute On Securities Regulation

Date 05/11/2020

Thank you, Keith [Higgins] for that kind introduction and for the invitation to be here today. I’m grateful for the opportunity to speak with you all virtually and I look forward to the time when we can meet again in person.

Independent Studies Show Investment Industry Strives To Provide Comprehensive Financial Advice To Best Serve Canadians But Regulatory Burden And Silos Create Unnecessary Challenges

Date 05/11/2020

The Investment Industry Regulatory Organization of Canada (IIROC) today released two studies that show how mutual fund advisors and dealers are striving to provide comprehensive financial advice that is in the best interest of Canadian investors but regulatory burden and silos create unnecessary challenges.

CFTC Commissioner Quintenz To Speak On A Panel At FIA’s 36th Annual Futures And Options Expo

Date 05/11/2020

November 12, 2020

Chainalysis In Action: US Department Of Justice Announces Takedown Of Two Terrorism Financing Campaigns With Help From Blockchain Analysis

Date 05/11/2020

Yesterday, the U.S. Department of Justice (DOJ) announced the disruption of two terrorism financing campaigns that utilized cryptocurrency donations (and a third that didn’t), following a multi-agency investigation conducted by the FBI, HSI, and IRS-CI. The investigation led to the largest ever seizure of cryptocurrency assets related to terrorism financing, with more than $1 million worth of cryptocurrency recovered from terror finance campaigns and financial facilitators operating unlicensed money services businesses (MSBs). 

Federal Reserve Issues FOMC Statement

Date 05/11/2020

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.