Investments with Cavendish Incorporated Ltd and Cottesmore Associates Ltd We are aware that consumers may have invested substantial funds in bonds or loan notes issued by Cavendish or through its former appointed representative, Cottesmore Associates Limited. In general, a business does not have to be regulated by the FCA to raise funds by issuing shares or debt […]
SEC Charges Ernst & Young, Three Audit Partners, and Former Public Company CAO with Audit Independence Misconduct
Washington D.C., Aug. 2, 2021 — The Securities and Exchange Commission today charged accounting firm Ernst & Young LLP (EY), one of its partners, and two of its former partners with improper professional conduct for violating auditor independence rules in connection with EY’s pursuit to serve as the independent auditor for a public company with […]
SEC Issues Whistleblower Awards Totaling More Than $4 Million
Washington D.C., Aug. 2, 2021 — The Securities and Exchange Commission today announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the first order, the SEC awarded more than $2 million to a whistleblower who provided valuable information that resulted in SEC staff […]
ESMA Newsletter July 2021
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Call for advice to the European Securities and Markets Authority (ESMA) regarding certain aspects relating to retail investor protection
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Call for advice to the Joint Committee of the European Supervisory Authorities regarding the PRIIPs Regulation
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SEC Charges Real Estate CEO With Defrauding Investors
The Securities and Exchange Commission today announced securities fraud charges against recidivist Michael Shustek, the CEO of several Las Vegas real estate investment trusts (REITs), and his wholly owned investment advisory firm, Vestin Mortgage LLC. The complaint alleges that since at least 2012, Shustek fraudulently enriched himself and one of the REITs he controlled, The […]
ESMA publishes data for the systematic internaliser calculations
The data which is published on a voluntary basis covers the total number of trades and total volume over the period January to June 2021 for the purpose of the systematic internaliser (SI) calculations under MiFID II for: 22,491 equity and equity-like instruments; 113,771 bonds; and 4,818 sub-classes of derivatives (including equity derivatives, interest rate derivatives, commodity […]
ESMA makes first CTP data available
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today made available the first consolidated tape provider (CTP) data. The data made public by a CTP in accordance with Articles 10 and 21 of Regulation (EU) No 600/2014 (MiFIR) shall represent at least 80% of both the total number of transactions and […]
FCA publishes Annual Report and Accounts 2020/21
Highlights from this year include us: responding rapidly to the economic impacts of the pandemic issuing guidance to firms ensuring 4.5 million payment deferrals for mortgage and credit customers during the pandemic introducing new rules on home and motor insurance pricing which will save consumers an estimated £4.2 billion over 10 years continuing to focus […]