The Financial Conduct Authority (FCA) is investigating more than 150 Coronavirus-related scams since the outbreak began, according to official figures.
Legal & Regulation
Hong Kong SFC issues 'approval-in-principle' for OSL virtual asset automated trading and brokerage licenses
Asian digital asset platform OSL, a member of BC Technology Group, has secured an approval-in-principle for its application to operate a virtual asset trading platform under a license for Type 1 (dealing in securities) and Type 7 (automated trading service (ATS)) regulated activities under the Securities and Futures Commission (SFC) virtual asset licensing framework in Hong Kong.
In June and July 2020, Apperio commissioned the first independent study to understand how in-house legal teams across the asset management sector are navigating the evolving challenges posed by Covid-19.
Bank of Nova Scotia to pay USD127.4m CFTC penalty for spoofing, false statements, compliance and supervision violations
The Commodity Futures Trading Commission (CFTC) has issued three orders filing and settling charges against The Bank of Nova Scotia (BNS), a provisionally registered swap dealer, resolving two separate enforcement actions.
The size and growth of the mutual fund sector in China, combined with recent market liberalisation steps, will lead to more investment managers applying for onshore fund-management licenses, according to Fitch Ratings.
Morningstar recognised as non-EU administrator of benchmarks under the European Benchmarks Regulation (BMR)
Morningstar, a provider of independent investment research, has been recognised as a non-EU Administrator of benchmarks under the European Benchmarks Regulation (BMR). The BMR introduces a common framework and consistent approach to benchmark regulation, with an objective of ensuring the accuracy and integrity of benchmarks across the European Union.
Kane LPI Solutions (Kane LPI), specialists in the development and management of administration solutions in the international Life, Pension & Investment sectors, has been granted a Category 4 License by the Dubai Financial Services Authority (DFSA).
The European Fund and Asset Management Association (EFAMA) has issued a letter to the European Commission on the subject of the PRIIPS draft Regulatory Technical Standards (RTS), calling for an immediate extension of the UCITS exemption, as well as an urgent Level 1 review of the regulation.
A third (34 per cent) of fund managers at infrastructure investment firms are unaware of the upcoming EU disclosure requirements, due to come into force in March 2021, according to research by global law firm Linklaters.
The World Federation Of Exchanges calls for considered approach to treatment of CCP equity in resolution
The World Federation of Exchanges, the global industry group for central counterparties (CCPs) and exchanges, has called for a careful and considered approach in any change to resolution arrangements at CCPs, as upsetting the tried and tested balance of incentives could damage stability and increase systemic risk.