Court convicts and fines Brilliance Capital Management
Limited and its director for unlicensed activities
SFC, 24 Jul 2020
The Court found on or around 8 January 2013 BCM held itself
out to a company as carrying on a business in advising on corporate finance,
namely advising on listing application, by entering into an Advisor Engagement
Agreement whilst unlicensed.
Full Text: Click Here
IBF and MAS Launch Skills Map to Enhance Capabilities of
Family Office Advisors
MAS, 27 Jul 2020
The Family Office Advisor Skills Map sets out the skills and
competencies that professionals advising family offices should possess, such as
wealth planning administration and corporate governance. The Family Office
Advisor role will expand the career pathway for private banking relationship
managers under the Skills Framework for Financial Services. Co-created over the
past year with the financial services industry, legal and tax advisors, in
consultation with SkillsFuture Singapore, the skills map will be a valuable
resource for training providers and financial institutions to design and
calibrate relevant training curriculum, and for family offices to refer to when
hiring new recruits.
Full Text: Click Here
CMI
32/2020 Good Practices for Disclosure of Actively Managed Funds
MAS,
27 Jul 2020
This
circular sets out good disclosure practices for actively managed funds,
following a thematic review carried out by the Monetary Authority of Singapore
(MAS) on equity funds offered to retail investors. These good practices relate
to disclosures of the investment objective and the extent to which the
portfolio deviates, or can deviate from the reference benchmark, as measured in
part by quantitative metrics such as active share and tracking error.
Full Text:
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FCA
launches enhanced Financial Services Register to protect consumers
FCA,
27 Jul 2020
The FCA has
today launched its updated Financial Services (FS) Register – including a
simpler design and clearer language.
Full Text:
Click Here
SEC
Charges Trustify Inc. and Founder in $18.5 Million Offering Fraud
SEC,
24 Jul 2020
The
Securities and Exchange Commission today charged Trustify Inc., an online
marketplace purportedly designed to connect customers to a network of private
investigators, and its founder and CEO Daniel Boice with fraudulently offering
and selling over $18.5 million of securities to more than 90 corporate and
individual investors.
Full Text:
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Agencies
Adopt Final Rule on the Orderly Liquidation of Covered Broker-Dealers under
Title II of the Dodd-Frank Act
SEC,
24 Jul 2020
The
Securities and Exchange Commission and the Federal Deposit Insurance
Corporation have adopted a final rule required by the Dodd-Frank Act clarifying
and implementing provisions relating to the orderly liquidation of certain
brokers or dealers (covered broker-dealers) in the event the FDIC is appointed
receiver under Title II of the Dodd-Frank Act. The FDIC and SEC developed the
final rule in consultation with the Securities Investor Protection Corporation
(SIPC).
Full Text:
Click Here
