Category: Financial Services

ASIC office
February 28, 2020 BY Steffy Bogdanova

AGM Markets, OT Markets and Ozifin Tech engaged in unconscionable conduct

The Federal Court has found that the over-the-counter (OTC) derivative providers AGM Markets Pty Ltd, OT Markets Pty Ltd and Ozifin Tech Pty Ltd were engaged in systemic unconscionable conduct. It was reported that Australian investors lost over $30 million. Account managers located offshore were used to engage retail investors in Australia. They provided unlicensed…

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fca warning
February 27, 2020 BY Steffy Bogdanova

FCA updates its warning list with more companies

UK watchdog FCA has put out the details of several unregulated companies and clone firms this week. The names of the latest additions to the regulator’s warning list are the companies Advance Trading Systems, 4Rex Prime Ltd ta Standard Bit Option, London loan Lender, Currie Consultancy Group, Online Currency Corp ltd and Vendome Asset Management. According to the regulator, the…

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AFM imposes an order for incremental penalty payments on Miscanthus Green Power B.V.
February 26, 2020 BY Steffy Bogdanova

AFM fines Esperite for late publication of annual figures

Dutch Authority for the Financial Markets (AFM) imposed an administrative fine on biotech company Esperite N.V in the amount of €312,500, on 14 February 2020. Esperite failed to make its finances of 2017 and 2018 publicly available on time. Esperite’s deadline for its annual revenue of 2017 was on 30 April 2018 but the report…

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gold
February 25, 2020 BY Valentina Kirilova

Xetra-Gold exceeds the 10b Euro mark in assets under custody

Deutsche Börse has just released fresh news from its commodities sector. The assets under custody of Xetra-Gold exceeded the 10 billion Euro mark for the first time. The physical holdings of the Gold ETC are deposited in the central vault for German securities in Frankfurt and are currently 209.98 tonnes, up 6.39 tonnes since the…

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cysec cif licence suspension
February 25, 2020 BY Valentina Kirilova

CySEC permanently deletes OMEGASERVE SECRETARIAL LTD from the register

The Cyprus regulator CySEC has earlier this week announced the company OMEGASERVE SECRETARIAL LTD waived its authorisation with Νumber 109/196. The company's authorisation lapsed as from January 2, 2020 and CySEC has permanently deleted OMEGASERVE SECRETARIAL LTD from the Register. OMEGASERVE remains under the supervision of CySEC until its compliance with any of its outstanding…

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fca warning
February 25, 2020 BY Valentina Kirilova

FCA adds more companies to its warning list

UK watchdog FCA has put out the details of several unregulated companies and clone firms this week. The names of the latest additions to the regulator’s warning list are the companies Everyday Finances, Premium Dax, BT Save, Duxa Capital, as well as the clone firms TL Financial Consultancy and Hiroseoption. According to the regulator, the…

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Wells Fargo
February 24, 2020 BY Valentina Kirilova

Wells Fargo pays $500m for misleading investors

California-based firm Wells Fargo & Co. was charged for misleading investors about the success of its core business strategy, the Securities and Exchange Commission (SEC) announced last week. According to the regulator, the company has agreed to pay $500 million to settle the charges, which will be returned to investors. The payment is part of a…

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Regulation
February 24, 2020 BY Valentina Kirilova

ASIC to grant relief for companies planning an IPO

Australian regulator ASIC announced earlier today that it is seeking feedback on proposals to grant relief for voluntary escrow arrangements and pre-prospectus communications in connection with an initial public offer (IPO). Currently companies that are considering undertaking an IPO must apply to ASIC for individual relief and pay application fees. The watchdog is about to…

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SGX announces trading volumes
February 24, 2020 BY Valentina Kirilova

SGX launches methanol futures and swap contracts

Singapore Exchange (SGX) just announced that it has launched methanol futures and swap contracts to help methanol producers, traders and downstream users manage risk and improve price discovery amid rising demand. Both new features (SGX Platts Methanol CFR China Swap and the SGX Platts Methanol CFR China Futures) will be listed with 12 consecutive contract…

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