Search Results for: compliance
ASIC updates licence conditions on Morgans Financial Limited
November 24th, 2016
ASIC and Morgans Financial Limited (Morgans) have agreed for an independent compliance consultant to monitor, evaluate and report on Morgan’s implementation of recommendations arising from an independent review of its compliance measures. The consultant completed its review of Morgans’ ...
FINRA fines investment firm for $3.4 Million
November 23rd, 2016
FINRA Sanctions Oppenheimer & Co. $3.4 Million for Reporting Violations, Failing to Comply With Discovery Obligations in Arbitrations, and Other Supervisory Failures The Financial Industry Regulatory Authority (FINRA) announced that it has fined Oppenheimer & Co. Inc. $1.575 million ...
The IRS is Targeting Bitcoin Transaction Records of Coinbase Users
November 18th, 2016
Transaction records of Coinbase users, specifically bitcoiners, have been targeted by the Internal Revenue Service (IRS), according to a federal case filed in the U.S. District Court in the California Northern District Court. First revealed by ZeroHedge on a late Thursday ...
ASIC bans former AMP Financial Planning representative from providing financial services for eight years
November 18th, 2016
ASIC has banned Mr James Edward McCarthy, a financial adviser from South Australia, from providing financial services until 14 November 2024. Mr McCarthy is the sole director of McCarthy Financial Solutions Pty Ltd and was an authorised representative of ...
CommSec pays $200,000 in infringement notice penalty
November 16th, 2016
Commonwealth Securities Limited (“CommSec”) has paid a penalty of $200,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (“MDP”). The MDP had reasonable grounds to believe that CommSec contravened subsection 798H(1) of the Corporations Act ...
International law firm developed Artificial Intelligence robot for contracts solution
November 10th, 2016
International law firm Pinsent Masons has announced the roll out of an AI-powered commercial contracts solution to support clients responding to challenges posed by Brexit. The firm has developed a three-step tool to help clients identify risk in existing ...
UK Bond Network gains FCA approval, paving way for IFISA
November 10th, 2016
UK Bond Network is considering offering its customers the Innovative Finance ISA (IFISA), now that it has received authorisation from the Financial Conduct Authority (FCA). UK BOND Network is expecting to launch its Innovative Finance ISA (IFISA) in January, ...
Cash Converters to pay over $12M following ASIC probe
November 9th, 2016
Following an ASIC investigation, payday lender Cash Converters will refund $10.8 million to consumers who received small amount loans under approximately 118,000 small amount credit contracts. Cash Converters has paid a $1.35 million penalty following the issuing of infringement ...
Bank fined $215 Million by DFS for violating Anti Money Laundering Laws
November 7th, 2016
DFS Investigation Uncovers Intentional Actions to Obscure U.S. Dollar Clearing Transactions, Including Counterfeit and Falsified Invoices involving China and Russia and Omission of Information Regarding Possible U.S. Dollar Trades with Sanctioned Counterparties Bank Management Silenced and Severely Curtailed the ...
Commerzbank CET 1 Capital Ratio Increased to 11.8%
November 4th, 2016
Operating profit of €429 m for third quarter 2016 compared to €351 m for second quarter 2016 (Q3 2015: €452 m) CET 1 capital ratio increased to 11.8% as of end of September 2016 (end of June 2016: 11.5%; ...
