On 18 January, FINRA issued alert on investing with borrowed money. Re-issued alert as investors may underestimate risk of margin trading and calls. Investor purchases of securities "on margin" averaged $592bn, up to Nov. 2017. Purchases exceeded the $600 billion mark in Oct. 2017, for first time in history. Warn investors of potential margin calls…
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About: ILG
Recent Posts by ILG
U.S. Fed Taiwanese Bank AML Fine
On Jan. 17, Fed fined Mega Int. Commercial bank $29mn for AML. Taipei, Taiwan, based bank breached US AML regulations, and was fined $29mn. Taiwan FSC asked bank to fully explain to Fed, its efforts to enhance compliance. Findings Followed Fed review of bank's branches in New York, Chicago, and Silicon Valley. US bank operations…
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Hong Kong – Courts Find no Evidence in Insider Dealing
The Eastern Magistrates’ Court today found that Mr Lam Yik Tung, a former employee of BNP Paribas Capital (Asia Pacific) Limited, and his friends – Mr Chan Lit Chun and Mr Anson Mui Ka Leung – were not guilty of insider dealing in the shares of Integrated Distribution Services Group Limited (IDS) in 2010 (Notes 1…
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UK FRC Collapse of Carillion
On Jan. 15, FRC issued actions on impact of Carillion collapse. FRC is actively monitoring situation, contact with other relevant regulatory bodies. Possess power to investigate accountants and circumstances relating to the audit. Obliged to follow due process, will make further statement on this matter shortly. Pensions Meeting Concerns raised over its £587mn pensions deficit,…
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FINRA’s Cook Wants to Stop Bad Actors
On Jan. 10, 2018, FINRA issued video of high-risk registered representative program. Discussion with Mike Rufino, EVP, Head of FINRA Member Regulation,—Sales Practice. Included overview of the program and criteria FINRA use to identify high-risk activity. With tools and resources which are available to help firms perform their own reviews.
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U.S. CFTC Parts 3 and 9 Regulations
On Jan. 9, CFTC issued part 3, 9 regulation on market discipline. Integrate existing advisory guidance, incorporate swap execution facilities (SEFs), and update provisions currently applicable to designated contract markets (DCMs). CFTC Revisions Part 3 governs registration of intermediaries; while Part 9 details the rules related to CFTC review of exchange disciplinary, access denial, and other adverse…
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