Hong Kong’s Securities and Futures Commission (SFC) has reprimanded and fined Lion Futures Limited (LFL) $2.8 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) and other regulatory requirements between May 2017 and July 2019. The SFC’s investigation found that LFL did not conduct any due diligence on the customer supplied systems […]
Category: Forex
David Cohen to step down as CBA Deputy CEO
David Cohen will finish his role as Deputy CEO of the Commonwealth Bank on 31 December 2023. In November 2018, Mr Cohen was appointed to the newly created role of Deputy CEO which was designed to support the bank’s efforts to simplify its portfolio and increase focus on customer remediation and complaints. With the recent […]
LMAX granted RMO License in Singapore to add NDFs
Institutional FX and digital assets exchange operator LMAX Group has announced that its subsidiary, LMAX Exchange Singapore, has received a Recognised Market Operator (RMO) License from the Monetary Authority of Singapore (MAS). The license will enable the Group to offer Non-Deliverable Forward (NDF) trading in Singapore (SG1) and London (LD4). The launch of NDFs will […]
ASIC bans former Magnolia Group Capital director from providing financial services
The Australian Securities and Investments Commission (ASIC) has disqualified former Magnolia Capital Group director Mitchell Atkins from managing corporations for a period of 5 years and banned him for a period of 10 years from providing financial services and engaging in credit activities. The Magnolia Capital Group of companies collapsed in 2022 owing unsecured creditors […]
ASIC suspends AFS licence of Suetonius Wealth Management
The Australian Securities and Investments Commission (ASIC) has suspended the Australian financial services (AFS) licence of Sydney based financial services provider, Suetonius Wealth Management Pty Limited. The suspension, which will last until 28 February 2024, reflects the fact that Suetonius had failed to lodge its financial statements and audit reports for financial years ending 30 […]