Category: Financial Services

SEC
August 14, 2020 BY Steffy Bogdanova

SEC raises charges against Boon.Tech and CEO for $5 million ICO

Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit said: Investors are entitled to truthful disclosures from issuers of securities, whether digital or otherwise.  Pavithran and Boon.Tech defrauded investors by convincing them to fund this endeavor based on the allure of innovation that simply did not exist. The US watchdog found that Boon.Tech and…

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Wirecard Card Solutions
August 13, 2020 BY Steffy Bogdanova

Former Wirecard COO Jan Marsalek on the run, added to Interpol’s most wanted list

Three other former executives of Wirecard have been arrested including former chief executive officer Markus Braun. The prosecutors suspect that the company has known about the losses since 2015. The Braun, Marsalek and the two other executives allegedly conspired to about €3.2 billion euros ($3.7 billion) in fraudulent loans. Allegedly, they intended to inflate the…

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finra
August 13, 2020 BY Steffy Bogdanova

US regulator FINRA warns against fake domain website

The “finnra.org” domain is not connected to FINRA. Firms should delete all emails originating from this domain name. The US watchdog has already requested that the Internet domain registrar take down "finnra.org". FINRA reminds firm to check the legitimacy of any suspicious email before to responding to it, opening any attachments or clicking on any…

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FCA warning
August 12, 2020 BY Steffy Bogdanova

National Bond Advice, Hunters and Jacobs Capital Partners and others added to FCA warning list

National Bond Advice Website: https://www.nationalbondadvice.com/ Hunters and Jacobs Capital Partners Address: 30 Broad Street, New York, NY 10004, United States Telephone: +19292141601, +19144444653 Email: [email protected] Website: www.huntersandjacobscapitalpartners.com Panther Loans (clone of FCA authorised firm) Email: [email protected] Website: www.panthersloans.com UK Bonds Shop Address: Aldgate Tower, London, E1 8FA Website: www.ukbondsshop.com Credit Assessment Bureau Telephone: 01625466410; 0162546607;…

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Broadridge Financial Solutions
August 12, 2020 BY Steffy Bogdanova

Broadridge announces 4% revenue growth for the financial year and 12% for the final quarter

Tim Gokey, Broadridge's CEO said: With an exceptional fourth quarter, Broadridge reported strong fiscal year 2020 results including 10% Recurring revenue growth, 8% Adjusted EPS growth, and record closed sales. Our full-year performance despite event-driven headwinds and the ongoing pandemic further validates the Broadridge business model and value proposition, and gives us even greater confidence…

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Interactive Brokers to pay over $38 million penalty to settle charges with SEC, CFTC and FINRA
August 11, 2020 BY Steffy Bogdanova

Interactive Brokers to pay over $38 million penalty to settle charges with regulators

The CFTC filed charges against Interactive Brokers for failing to supervise its officers’, employees’, and agents’ handling of several commodity trading accounts and not implementing adequate procedures to detect and report suspicious transactions as required under federal anti-money laundering (AML) laws and regulations. Interactive Brokers agreed to be censured, to cease and desist, and to…

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ASIC
August 10, 2020 BY Steffy Bogdanova

ASIC bans Brisbane finance broker and cancels the license of Global Merces Funds Management

The ASIC also announced cancelling the Australian financial services (AFS) licence of Global Merces Funds Management Limited. The reason for the cancellation is that Global Merces is in liquidation. The license of the company was previously suspended after the company got external administrator appointed in January. Read More: Former CFS Private Wealth financial adviser sentenced…

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