Benjamin Thomas Molloy of Point Cook, Victoria has been convicted of making false statements to ASIC, contrary to sections 1308(1) and 1308(2) of the Corporations Act 2001 (Cth). On 13 December 2024, in the Melbourne Magistrates’ Court, Mr Molloy was sentenced to a recognisance release order under section 20(1)(b) of the Crimes Act 1914 (Cth), […]
Author Archives: ETE
Former registered liquidator Peter Amos sentenced to prison for dishonest use of position as external administrator
Former registered liquidator and external administrator Peter Andrew Amos was sentenced on 13 December 2024 in the District Court of NSW to four years imprisonment after pleading guilty to charges of dishonestly using his position with the intention of gaining an advantage for his business and himself contrary to s 184(2)(a) of the Corporations Act […]
ESMA publishes its Final Report on bond transparency and reasonable commercial basis under MiFIR Review
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today the Final Report covering mandates under the MiFIR Review on bond trade transparency and reasonable commercial basis (RCB). The report includes the amendments to regulatory technical standards (RTS) on the mandates for bonds, structured finance products (SFPs) and emission […]
ESMA delivers technical standards on CTPs and other DRSPs
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today new and revised technical standards for Consolidated Tape Providers (CTPs) and other Data Reporting Services Providers (DRSPs). The technical standards outlined in the Final Report cover the new rules applicable to CTPs regarding data quality and reporting, revenue redistribution […]
ESMA delivers final report on equity transparency under MiFID II
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today the Final Report with proposals for amendments related to equity transparency under the Markets in Financial Instruments Directive (MiFID II). Through its proposals ESMA aims to contribute to a more informative pre-trade and post-trade transparency regime. The report includes […]
FCA publishes decisions against director and financial adviser for pension transfer advice failings
The FCA has decided to ban Mr Richard Fenech and Ms Heather Dunne from working in financial services and fine them £270,646 and £399,817 respectively. The FCA found that the pair operated a flawed advice model that put customers’ guaranteed pension benefits at significant risk, and that Ms Dunne failed to act with due skill, […]
FCA seeks feedback on plans to improve the transparency of the UK’s crypto markets
Clear crypto regulation will improve the integrity of the UK’s crypto markets, help protect people and support the UK’s growth and competitiveness. Admissions and disclosures and market abuse regimes are crucial to improving the integrity and cleanliness of our crypto markets, as well as helping people make informed financial decisions. Our Discussion Paper DP24/4 (Admissions […]
ASIC sues HSBC Australia alleging failures to adequately protect customers from scams
HSBC Bank Australia Limited (HSBC Australia) failed to adequately protect customers scammed out of millions of dollars, according to documents filed by ASIC in the Federal Court today. ASIC alleges HSBC Australia failed to have adequate controls in place to prevent and detect unauthorised payments and failed to comply with its obligations to investigate customer […]
ESMA consults on proposals to digitalise sustainability and financial disclosures
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a Consultation Paper seeking stakeholders’ views on how the European Single Electronic Format (ESEF) can be applied to sustainability reporting. The proposals also aim to ease the burden associated with financial reporting. It is a priority for ESMA […]
ESMA puts forward Q&As on the application of the Guidelines on funds’ names
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is today publishing Q&As with further details on specific aspects of the practical application of the Guidelines on funds’ names using ESG or sustainability-related terms. The Q&As are related to green bonds [UCITS, AIF][1], the convergence on “meaningfully investing in sustainable […]