The Securities and Exchange Commission has approved new exchange rules for breaking stock trades that deviate so substantially from current market prices that they are considered “clearly erroneous”. The rules would for the first time provide a consistent standard across
The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against FCM Deutsche Bank Securities Inc) (DBSI) is to pay a USD 3 million civil penalty to settle CFTC charges relating to failures to properly
The trustee for MF Global will begin making final distributions to satisfy its obligation of full restitution for USD1.212bn in losses sustained by customers when the company failed in 2011. The consent order, entered on 8 November 2013 by Judge
The British Virgin Islands Financial Services Commission has introduced a new electronic reporting system for filing annual fund returns. Law firm Conyers Dill & Pearman says this will facilitate the commission’s regulation and monitoring of the British Virgin Islands funds
In its proposal for the State Budget 2010, to be adopted by the Luxembourg Parliament in December, the Luxembourg Government has included an exemption from subscription tax for microfinance investment funds. It follows a recommendation issued by the Association of
Butterfield Fulcrum Group (Ireland), an alternative fund administration company, has been licensed to provide fund administration services by the Irish Financial Services Regulatory Authority. Based in Dublin, Butterfield Fulcrum Group (Ireland) is now authorised under Section 10 of the Investment
The delay by the British Government in signing off on funding arrangements in the Cayman Islands is becoming a major cause for concern among leading business practitioners, according to the Cayman Islands Financial Services Association. Anthony Travers, chairman of CIFSA
The Financial Conduct Authority (FCA) has revealed its thematic supervisory plans for 2014/15 as a central part of its annual Business Plan. The supervisory plan contains much that will be of relevance to asset managers and provides an indication of
The Securities and Exchange Commission is adopting an interim final temporary rule under the Investment Company Act of 1940 to require a money market fund to report its portfolio holdings and valuation information to the SEC under certain circumstances. The
The Irish Stock Exchange has published a series of revisions to its listing rules, which are effective from 24 September 2009. Kinetic Partners says the revisions are a welcome and timely move by the exchange and are in keeping with
