Category: Financial Services

partnership
August 27, 2020 BY Steffy Bogdanova

Finastra helps VPBank migrate to a new treasury system and grow its financial market division

Fusion Kondor allows banks to trade high volumes of treasury while also offering flexibility to support more complex derivatives, options and structured trades. The solution’s integration with existing systems and applications is easy. Fusion Risk offers a fully automated, end-to-end IFRS9/CECL solution. It is integrated with Finastra’s core banking, lending and trading solutions. It also…

Read more
Hong Kong SFC
August 26, 2020 BY Steffy Bogdanova

The Hong Kong SFC bans CITIC former relationship manager

TS’O gave the customers false receipts and the additional amount they paid went into his pocket. Subsequently, TS’O was convicted of seven counts of fraud on 7 January 2019.  On 21 January 2019, he was sentenced to six months imprisonment, he was also suspended for two years and was ordered to make restitution to the…

Read more
FCA warning
August 26, 2020 BY Steffy Bogdanova

FX educational company SO FX and others added to FCA's warning list

Vandebeek Wealth Management (Clone of an EEA Authorised firm) Address: 280 High Holborn, London WC1V 7EE Telephone: 02080897180 Email: [email protected], [email protected] Website: www.vandebeekwm.co.uk FXGrow Capital (clone of FCA authorised firm) Address: Paddington Railway Station (PAD), London, Greater London W2 1HQ Telephone: 0097145864211 Email: [email protected] Website: https://fxgrowcapital.com/ SO FX Address: Roman Landing, 35-37 St Mary's Place,…

Read more
revenue volumes
August 25, 2020 BY Steffy Bogdanova

FinVolution reports $256.3 million net revenue for Q2 and share repurchase program of up to $60 million

Q2 financial highlights include: Net revenue grew by 10.3% to RMB 1,810.5 million ($256.3 million) from RMB 1,641.9 million in the same period during the previous year. Operating profit reached RMB 567.2 million ($80.3 million), 26.1% down from RMB 767.6 million in the Q2 of 2019. Non-GAAP adjusted operating profit, excluding share-based compensation expenses before…

Read more
boerse stuttgart
August 24, 2020 BY Valentina Kirilova

Boerse Stuttgart develops financing method for industrial capital goods using blockchain

Dr Ulli Spankowski, Chief Digital Officer of Boerse Stuttgart GmbH, commented: The project shows what novel investments are possible with blockchain-based tokens for investors in the industrial sector. At the same time, companies gain greater flexibility for the financing of capital goods. With a view to this and further new markets we are creating an end-to-end ecosystem for…

Read more
FCA investigates Coronavirus scams
August 24, 2020 BY Valentina Kirilova

FCA investigates over 150 Coronavirus related scams

Experts have warned that the rise in sophisticated Covid-19 related scams could leave financial services firms open to the risk of financial crime, especially with increasingly stringent Anti-Money Laundering (AML) legislation in the pipeline. Max Worrall, General Markets Sales Manager, Encompass Corporation commented: The Covid-19 pandemic has seen a rapid increase in the number of  financial crime scams…

Read more
FCA warning
August 21, 2020 BY Valentina Kirilova

FCA warns against a clone of the company Claims.net

Claims.net (clone of UK registered public company) Telephone: 01615051260; 0239388028; 02037690910 Email: [email protected] UK registered public company details This UK registered public company that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or products in the UK and its correct details…

Read more
Canadian regulator BCSC warns against Highgoldminings.com, Crypto Hallmark Investment and others
August 21, 2020 BY Valentina Kirilova

Canadian regulator BCSC warns against the companies 3storich and Mining Vault

3storich claims to be located in Toronto, Ontario, and also claims to offer investment plans with different rates of returns in cryptocurrency trading. 3storich accepts British Columbia (BC) residents as clients, however, the company is not registered to trade in, or advise on, securities or derivatives in BC. The regulator advises caution when dealing with companies…

Read more