The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its report on the Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the supervision of the asset valuation rules under the UCITS and AIFM Directives. In the final report ESMA presents its analysis and conclusions from the...
Author: EMA Investments
FCA finds young investors are more likely to have long-term goals in mind when dating than when investing
The FCA encourages young investors to adopt the same principles to investing as they do to their dating lives, as it launches the latest burst of its InvestSmart campaign. New FCA research shows that young investors are thinking more long-term when dating than investing: just 31% of people were investing to earn more money than...
Former managing director Holly Grofski convicted of criminal charges
Former managing director of Global Merces Funds Management Ltd (in liquidation) Ms Holly Marie Grofski has been sentenced to offences involving the falsification of documents and the provision of false information to an auditor. Following her guilty pleas, Ms Grofski was convicted and sentenced in the Brisbane District Court. Ms Grofski was sentenced on each...
ESMA seeks input on rules for long term investment funds
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is consulting on draft regulatory technical standards (RTS) under the revised ELTIF Regulation. Interested stakeholders are invited to provide input by 24 August 2023. The RTS will specify the way the new requirements of the revised ELTIF regulation, in particular on...
ASIC cancels AFS licence of Centurion Custodian Funds Management Ltd, stay application refused
ASIC has cancelled the Australian financial services (AFS) licence of Centurion Custodian Funds Management Ltd (Centurion), effective from 18 January 2023. The license authorised Centurion to provide specified financial services, including financial product advice and dealing in interests in managed investment schemes for wholesale clients. ASIC cancelled the licence because Centurion had not provided any...
ASIC suspends AFS licence of Huntley Management Limited
ASIC has suspended the Australian financial services (AFS) licence of Huntley Management Limited (HML) for 12 months, effective 21 March 2023. The licence authorised HML to deal in interests in managed investment schemes to retail and wholesale clients, and to provide general financial product advice to wholesale clients. HML is the responsible entity of twelve...
Former Continental Coal director Ashley Paul D’Sylva sentenced
Former Continental Coal director, Ashley Paul D’Sylva, of Leederville, Western Australia, has been sentenced to eight months’ imprisonment to be released immediately upon entering into a recognisance release order in an amount of $5,000 and to be of good behaviour for 18 months, for one count of breaching s184(1)(a) of the Corporations Act 2001 (Cth)....
ASIC bans former fund manager for naked short selling
ASIC has banned former Gleneagle Securities fund manager and authorised representative Gregory Tolpigin from providing financial services for three years, after he was found to have engaged in naked short selling. Naked short selling occurs when a person sells certain financial products such as shares that are not held and cannot be transferred to a...
We force third firm to reverse effect of misleading British Steel Pension Scheme offers
David Stock & Co Limited (David Stock & Co) made unsolicited offers of £50 to 48% of its clients who had been BSPS members and had not yet complained. We are concerned that these unsolicited settlement offers were not calculated in line with our guidance, and were a deliberate attempt to exclude former BSPS members...
Linda Marissen charged with assisting Chris Marco’s alleged fraud
Ms Linda Marissen, of Wembley Downs, Western Australia has appeared at the Perth Magistrates Court charged with 34 counts of enabling or aiding the commission of alleged fraud offences by Chris Marco contrary to sections 7(b) and 409 of the Criminal Code (WA). Following an ASIC investigation, it is alleged that between February 2014 and...
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