The European Securities and Markets Authority (ESMA) the EU’s financial markets regulator and supervisor, today published a supervisory briefing on understanding the definition of advice under MiFID II. ESMA reviewed and updated the CESR Q&A on Understanding the Definition of Advice under MiFID, a document that is widely used by supervisors and firms, to align...
Author: EMA Investments
The Financial Conduct Authority continues crackdown on unregistered crypto ATMs in the UK
Since the start of 2023, the Financial Conduct Authority (FCA) has visited and inspected 34 locations across the UK suspected of hosting crypto ATMs. These visits have been part of a coordinated operation with other law enforcement agencies to crackdown on this illicit sector and have disrupted 26 machines operating unlawfully across the country. Steve...
ASIC greenwashing antidote
Ultimately, only meaningful, responsible and transparent disclosure will effectively combat greenwashing practices, writes ASIC deputy chair Karen Chester. Greenwashing erodes investor confidence in the market for sustainability-related financial products and corporate strategies. The Australian Securities and Investments Commission has taken 35 regulatory interventions against greenwashing activity in the nine months to March 2023. While these...
SpearGPT / Spear Technologies
Name: SpearGPT / Spear Technologies Telephone: 447451294375 Email: [email protected], [email protected] Website: https://speargpt.com, www.spear-technologies.com Some firms may give incorrect contact details including postal addresses, telephone numbers and email addresses. They may change these contact details over time. They may also give you details that belong to another business or individual, so the information looks genuine.
ESMA highlights areas for improvement in firms’ disclosure of cost and charges under MIFID
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today publishes a Statement on its 2022 Common Supervisory Action (CSA) and on the mystery shopping exercise regarding compliance with disclosure requirements for costs and charges under MIFID II. Overall, firms comply with most of the elements of the ex-post cost...
ESMA and NCAs to assess disclosures and sustainability risks in the investment fund sector
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is today launching a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on sustainability-related disclosures and the integration of sustainability risks. The goal is to assess the compliance of supervised asset managers with the relevant provisions in the Sustainable Finance...
ESMA publishes latest edition of its newsletter
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter. Your one-stop-shop in the world of EU financial markets focused in June on important topics such as the launch of the ESMA Data Strategy 2023-2028, the release of the...
Asset managers told to review liquidity management in funds
The Financial Conduct Authority has reviewed liquidity management in asset managers and found that firms need to increase their focus on liquidity risk. As things stand, gaps observed in liquidity management could lead to a risk of investor harm. Asset managers need to manage liquidity effectively. Doing so is vital so investors are able to...
Liquidator disciplinary committee cancels registration of Richard Ernst Auricht
On 28 June 2023, a liquidator disciplinary committee (the Committee) decided that Richard Ernst Auricht’s registration as a liquidator should be cancelled. ASIC’s referral to the Committee alleged Mr Auricht was not a fit and proper person to be registered as a liquidator, as he had failed to carry out adequately and properly his duties...
Restaurateur banned for four years
ASIC has disqualified Edoardo Perlo of Fortitude Valley, Queensland, from managing corporations for four years, after his involvement in three failed companies. Mr Perlo was a director of three companies between 2015 and 2020: Casa Gusto Pty Ltd (ACN 141 576 703) (de-registered) (‘Casa’); SMC Drummoyne Pty Ltd (ACN 600 533 140) (‘SMC’); and Popina...
Civil rights law practice area legal advice is the application of abstract principles of law to the concrete facts of the client’s case.