On 6 November 2017, FINRA issued rules on pay-to-play and capital acquisition brokers (cabs). Rules become effective on 6 December 2017, the text of the rules is set forth in Attachment A. Background: Scope of Activity Applies to firms that are solely corporate financing firms that advise companies on M&A. Advise issuer on raising debt…
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Argentina ACNV AML for Capital Markets
On 27 October, ACNV, FIU issued new rules on AML in capital market. Amended provisions which regulate AML and CTF as applicable to capital markets. Regulations were jointly presented by experts from each agency of ACNV and UIF. At an event with participants including representatives of markets, securities fund, agents registered with ACNV, managing companies…
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France AMF Long Equity Investment
On 13 October, AMF issued report on longer-term equity investments. Study on psychological blocks many savers have considering equity investments. AMF qualitative study, found misconceptions on equities were deeply entrenched. An in-depth learning approach is needed to establish long-term investor reflexes. To incite investors to diversify their savings without ruling out equity investments. AMF propose…
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U.S. and France Terror Financing
On 12 October, US and French Treasuries issued actions on terror financing. Meeting of US Treasury Secretary Mnuchin, and French Finance Minister Le Maire. Agreed measures to strengthen cooperation in the fight against terrorist financing. Sanctions Noted key role that targeted sanctions play in the fight against terrorist financing. Agreed to make full use of…
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Netherlands AFM Investment Firm AML
On 3 October, AFM issued rules on investment institutions risks of AML. Concern of managers/administrators of investment institutions facing AML/CTF risk. AFM asked administrators what they do to prevent becoming involved in laundering. Concluded that compliance with laws needed to be improved for a number of areas. Monitoring Prevention AFM and DNB supervises AML, Financing…
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U.S. SEC Enforcing Cyber-threats
On 25 September, SEC issued enforcement initiatives against cyber-threats. Two enforcement initiatives address cyber-based threats, protect retail investors. By the creation of SEC cyber unit to focus on targeting cyber-related misconduct. Establish retail strategy task force for schemes directly affecting retail investors. Followed SEC chairman 20 September statement of a cybersecurity breach. Cyber Unit Cyber…
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