Search Results for: compliance
FXCM pays administrative penalty of $180,000 to Canadian regulator
October 27th, 2014
The Financial and Consumer Services Tribunal (Tribunal) approved a settlement agreement between Forex Capital Markets, the Financial and Consumer Services Commission (FCNB) and the Manitoba Securities Commission, which requires Forex Capital Markets to pay administrative penalties for non-compliance with ...
EU Value-Added Tax Reforms Closing The VAT Gap
October 27th, 2014
The European Commission has published its latest VAT Gap study, which shows that an estimated EUR177bn (USD223.9bn) in value-added tax (VAT) revenues was lost due to non-collection or non-compliance in 2012 – a figure equal to 16 percent of ...
b-next enhances CMC:Global Control Room to monitor financial institutions’ global trading and banking activity
October 24th, 2014
b-next, a specialist provider of capital markets compliance solutions, announced the enhancement of its proprietary CMC:Global Control Room web-based tool to provide financial institutions with a comprehensive view of all activities across its global operations. The CMC:Global Control Room ...
Skill set needed to make Cyprus a Strong Fund Jurisdiction
October 23rd, 2014
Despite the current financial crisis and recession that we are experiencing, one industry that stands out, is resilient, and is growing is the Financial Services. Despite the reputational damage that we suffered following the events of March 2013, many ...
FMA warns consumers about cold-calling investment offers and ‘big win’ scams
October 23rd, 2014
The Financial Markets Authority (FMA) is warning New Zealand consumers and investors to be wary of cold-calls asking them to buy shares or put their money into offshore firms. The FMA is receiving an increasing number of complaints about ...
Islamic Bank of Britain changes name to Al Rayan Bank
October 23rd, 2014
Islamic Bank of Britain plc (IBB) today announced that, subject to formal shareholder approval, it plans to change its name to Al Rayan Bank PLC. The change will be completed in December 2014. The rebrand follows IBB’s acquisition, earlier ...
Maltese regulator tightens Financial Licensing Rules for FX; minimum capital up to €730,000
October 21st, 2014
The MFSA has issued a notice regarding applicants for a Category 2 or Category 3 Investment Services Licence that would like to carry out online forex trading in terms of the Investment Services Act. MFSA underscored the necessity of further tightening the ...
UK Tax Gap Widens
October 20th, 2014
The UK tax authority, HM Revenue and Customs (HMRC), has revealed that the UK tax gap grew to 6.8 percent in the fiscal year 2012-13, up 0.2 percent year-on-year. The tax gap, which measures the amount of tax that ...
ASIC’s Strategic Outlook 2014-15
October 20th, 2014
ASIC today published its Strategic Outlook for 2014–15. ASIC’s Strategic Outlook sets out the key risks ASIC sees to the markets it regulates, and how ASIC will respond – prioritising its tools of surveillance and enforcement. ASIC scans the ...
BVI Welcomes International Recognition for Financial Center
October 16th, 2014
The Premier of the British Virgin Islands, Orlando Smith, has welcomed recent recognition for the territory from two new independent surveys about offshore financial centers. The BVI achieved the highest rating among offshore centers in the Global Financial Centers ...
