Category: Financial Services

January 28, 2020 BY Valentina Kirilova

FinTech firm Gold-i partners with tech provider Tradesocio

Global FinTech firm, Gold-i announced today that it has formed a partnership with Tradesocio, a technology provider for the financial industry. Gold-i’s multi-asset liquidity management and aggregation solution, Matrix, has now been integrated into Tradesocio’s Marketplace along with other Gold-i products including its risk management and business intelligence tool, Visual Edge. Tradesocio offers trading and…

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fca fines
January 27, 2020 BY Steffy Bogdanova

London loses to New York as preeminent financial center for second year in Duff & Phelps Global Regulatory Outlook 2020

With Brexit deadline afoot this week, London is losing trust even further as a most important financial center. The declining trust is also strengthened by the latest findings in Global Regulatory Outlook (GRO) report of the global advisors Duff & Phelps. Just 34% of senior executives put London as the world’s preeminent financial hub, 20%…

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fca warning
January 24, 2020 BY Valentina Kirilova

FCA continues adding unauthorised companies to its warning list

It's been quite a busy week for the UK watchdog FCA. The regulator has put out the details of some more unauthorised companies today. The names of the latest additions to the regulator’s warning list are the companies Instant Bond Compare, as well as the clone firms IPO-FX and WVH Ethical. According to the regulator, the fraudsters are…

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ASIC suspends AFS license
January 24, 2020 BY Steffy Bogdanova

ASIC suspends AFS licenses of several financial services providers

The Australian Securities & Investments Commission (ASIC) announced yesterday the suspension of the Australian financial services (AFS) licenses of financial services providers Theta Asset Management, Valuestream Investment Management and Global Merces Funds Management. Theta Asset Management Ltd and Valuestream Investment Management Ltd’s licenses have been suspended until 21 July 2020 because two entities are under…

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Whistleblower
January 24, 2020 BY Steffy Bogdanova

Whistleblowers awarded after helping stop fraud

The Securities and Exchange Commission (SEC) announced yesterday that two whistleblowers were awarded for providing timely and crucial information in two separate cases of fraud. Both whistleblowers assisted SEC in stopping fraudulent schemes exploiting retail investors. The first whistleblower alerted SEC of fraudulent actions and the agency awarded them with more than $277,000 for his…

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SFC fines
January 22, 2020 BY Steffy Bogdanova

Propex Derivatives Pty Ltd caught spoofing, agrees to pay $1 million

Commodity Futures Trading Commission (CFTC) issued an order for $1 million against Propex Derivatives Pty Ltd (Propex), Australia-based proprietary trading firm, implicated in a spoofing scheme. The company was involved in unlawful trading activities on the U.S. commodities market through former trader in the period of July 2012 to March 2017. Propex agreed to pay…

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cysec cif license
January 22, 2020 BY Valentina Kirilova

CySEC withdraws Stocks Forex Ltd’s CIF licence

The Cyprus regulator CySEC announced today that it has decided to withdraw the CIF licence of a company named Stocks Forex Ltd. The authorisation number 283/15 is suspended in whole, due to the following reasons: the company's own funds and initial capital were below the minimum allowed, the company did not submit its capital adequacy…

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fca fine
January 22, 2020 BY Valentina Kirilova

FCA fines Hall and Hanley Limited £91,000

The UK regulator FCA announced earlier today that it has imposed a financial penalty in the sum of £91,000 to the company Hall and Hanley Limited (HHL). HHL is a claims management company (CMC) whose registered address was formerly 1st Floor, Building 4, Universal Square, Devonshire Street North, Manchester M12 6JH. With effect from 1…

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