Search Results for: Vest Financial
ASIC takes civil action against LM founder and former directors
November 20th, 2014
ASIC has started legal action against LM Investment Management Ltd (LMIM) founder, Peter Charles Drake, and former directors, seeking financial penalties and banning orders following the collapse of the Gold Coast-based fund manager. ASIC’s civil penalty proceedings in the ...
ASIC shuts down unlicensed FX business and removes its director from the industry
November 20th, 2014
ASIC has taken action in the NSW Supreme Court to permanently shut down unlicensed foreign exchange (FX) business, Vault Market Pty Ltd (Vault Market), and to remove its sole director, Mr MD Anamul Amin, from the financial services industry. ...
FCA fines RBS, NatWest and Ulster Bank Ltd £42 million for IT failures
November 20th, 2014
The FCA has taken this action against the Banks for failing to put in place resilient IT systems which could withstand, or minimise the risk of, IT failures. The actual cause of the IT incident was a software compatibility ...
Islamic finance body AAOIFI to revise four standards, eyes sukuk
November 20th, 2014
The Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will revise four of its standards in the first half of next year while expanding its guidance for Islamic bonds, the industry body said. Earlier this month, AAOIFI issued ...
BNP Baribas: Another blow for France’s beleaguered bank
November 20th, 2014
Just months after paying a $9 billion fine to the American authorities for violating sanctions against Cuba, Iran and Sudan, BNP Paribas is back in the gunsights. France’s national financial prosecutor is looking into allegations that senior figures at ...
Cheap-Oil Era Tilts Geopolitical Power to U.S.
November 20th, 2014
A new age of abundant and cheap energy supplies is redrawing the world’s geopolitical landscape, weakening and potentially threatening the legitimacy of some governments while enhancing the power of others. Some changes already are evident. Surging U.S. oil production enabled America ...
Technology In Accounting: Banks Should Mind the Gap
November 19th, 2014
Financial institutions often turn to technology to meet increases in regulatory and reporting demands, dedicating large and ever-increasing portions of their budgets each year to investments in tools and solutions that promise to help meet new regulatory requirements and ...
FX: More scandals … less trust (Video)
November 19th, 2014
The reputation of international banking is under scrutiny once again over another scandal, this time in the foreign currency trading sector. Global regulators have fined major banks in Europe and the US, for foreign exchange market manipulation. The massive fines are not ...
ASIC issues warning about unlicensed FX dealer YoutradeFX
November 19th, 2014
ASIC has today cautioned Australian investors against dealing with the company or group YoutradeFX for trading in margin foreign exchange (FX). ASIC advises that YoutradeFX is not regulated by ASIC, nor is it licensed to trade in margin FX ...
Tesco poised to dump auditor after accounting scandal
November 19th, 2014
Tesco could be on the verge of dumping PwC, its auditor of 31 years, over its apparent failure to identify the accounting problems that led to a black hole in its books. The Evening Standard understands that board members ...
