The Financial Conduct Authority (FCA) has banned ETF trader John Christopher Hughes over failings related to USD2.3 billion of unauthorised trading losses incurred by another trader Kweku Mawuli Adoboli.
Legal & Regulation
Monique Melis (pictured), Global Head of Consulting at Kinetic Partners, the global professional services firm comments on whistle blowers…
The US and Luxembourg governments have signed an agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA).
Boost ETP has welcomed UK Treasury spokesman Lord Newby’s recent comment that ministers ought to look at the apparent “loophole” that allows spread betters to avoid income and capital gains tax.
The Nasdaq OMX Group has filed a proposed rule change with the US Securities and Exchange Commission (SEC) to permit the listing and trading of exchange-traded managed funds (ETMFs).
HM Revenue & Customs has approved all current Boost ETPs as UK Reporting Funds under the provisions of The Offshore Funds (Tax) Regulations 2009.
The Financial Industry Regulatory Authority (FINRA) has ordered broker-dealers Stifel, Nicolaus & Company and Century Securities Associates to pay over USD1m over the sale of unsuitable exchange-traded funds to certain clients.
Nearly half of financial services professionals (49 per cent) globally do not believe that any regulator has managed to strike the right balance between protecting investors and underpinning growth, according to a survey by Kinetic Partners.
The Financial Industry Regulatory Authority (FINRA) has ordered Atlanta-based broker-dealer JP Turner & Company to pay USD707,559 in restitution to 84 customers for sales of unsuitable leveraged and inverse exchange-traded funds and for excessive mutual fund switches.
Exchange-traded fund (ETF) promoters are more supportive of regulation than last year, according to EY's recent survey, Global ETF survey: A new era of growth and innovation.