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The Hong Kong Monetary Authority released this statement at 17:30 HKG time (11:30 GMT) today.

Editorial Staff
BIScom Subsection: 

It has come to our notice that one or more persons are fraudulently delivering e-mail purporting to come from BankingInsuranceSecurities.com. It is impossible for that mail to originate at that domain and you may safely blacklist it at server level. For more information, see below.

The fraud has interesting timing and holders of internet domains should be aware of a possible new threat to reputation. The threat does not, on the face of it, have any immediate cyber-security implications but there may be hidden dangers.

Nigel Morris-Cotterill
BIScom Subsection: 

It all began when financial services regulation became trendy. In the good old days (which were in fact the bad old days in so many ways) language was used accurately. But some twit decided that precision in language in some way excluded hoi poloi. We are now some twenty years into a process by which imprecision has become the norm and therefore confusion and expense the inevitable result. One of the terms that first fell to this idiotic process is "firm."

Jefferson Galt
BIScom Subsection: 

Sydney-based authorised representative Eli Ekman, of Dover Heights, NSW, has been prohibited from providing any financial services in any capacity for five years, under the terms of a court-enforceable undertaking (EU), said Australian financial services regulator ASIC in a statement this week. His offence is unusual.

Editorial Staff
BIScom Subsection: 

What're the odds? Statistically, and logically, there are some things that should not happen, especially when a series of conditions must be met. Think how hard it is to get a rollover of selecting the winner of six horse-races in a row, for example. How can it be, then, that there are so many in-debt young people who attended college but don't have their degrees or whatever? The answer lies in a series of mismanagement decisions over a period of years at all levels of government in the USA. And it could easily happen anywhere else, too.

Bryan Edwards
BIScom Subsection: 

A statement from the European Bank for Reconstruction and Development says that a meeting of the heads of the leading multilateral development banks (MDBs) meeting at the 2018 Global Infrastructure Forum (GI Forum) today reaffirmed their commitment to work together to deliver inclusive, resilient, and sustainable technology-driven infrastructure. "

There's a lot of blah-blah-buzzword-blah and then comes a sentence that should pique the interest of all in the financial and aid sectors.

Jefferson Galt
BIScom Subsection: 

In 2011, Moody’s Investors Service Hong Kong Limited which along with many associated companies is generally known only as "Moody's," and which has forgone the sobriquet "ratings agency" in favour of the much more honest "ratings organisation", issued a document entitled "Red Flags for Emerging-Market Companies: A Focus on China." Ignoring, for the sake of simplicity, that the document referred to warning signs and not red flags in the true sense, it contained material that the Hong Kong Securities and Futures Commission (SFC) decided was not apt. That started a battle which continues.

Peter Lee
BIScom Subsection: 

It's one of the quickest settlements that the USA's Securities and Accounts Commission will ever see. On 27th September, civil proceedings were started. That was Thursday. The proceedings were, it has to be said, no surprise but while the "what" was expected, the "when" was unknown. After all, American prosecutors and regulators enjoy the glare of publicity and trying their cases in the court of public opinion long before they ever get to a court room. But Elon Musk, who is increasingly demonstrating deteriorating judgement in so many ways, is nothing if not decisive. On Saturday, 29th September, the SEC issued a statement: the SEC and Musk had settled and Musk didn't do anywhere near as badly as the SEC had applied for. But there is a sting in the tail.

Editorial Staff
BIScom Subsection: 

This section collates news and information feeds from government departments and regulators around the world.

There is no cost to governments or regulators to have their information feeds appear here.

Viewing the information in this page is free of charge and does not require registration on this website. It may be necessary to register to visit some of the sources.

Editorial Staff
BIScom Subsection: 

It's now clear: posting message on social media such as twitter, facebook and instagram is regarded by the USA's Securities and Exchange Commission in the same light as any other statement and the consequences for false or misleading information are the same as any other means of disseminating such information. Elon Musk, hardly a shrinking violet when it comes to grabbing headlines for his various ventures, is the defendant in a civil action brought by the SEC: what happens here will define both how corporations use social media and whether others who have posted material they should not have done will be brought to book.

Editorial Staff
BIScom Subsection: 

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