Category: Financial Services

Facebook pays $100m for misleading investors
July 24, 2019 BY Valentina Kirilova

Facebook charged with misleading investors, pays $100 million

The Securities and Exchange Commission (SEC) has announced that it has charged social media giant Facebook Inc. (NASDAQ:FB) for making misleading disclosures regarding the risk of misuse of Facebook user data. According to the Commission report, in 2014 and 2015, the now-defunct advertising and data analytics company, Cambridge Analytica, paid an academic researcher, through a…

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Germany's BaFin maintains restrictions on retail trading with financial CFDs
July 24, 2019 BY Valentina Kirilova

Germany's BaFin maintains restrictions on retail trading with financial CFDs

Germany's supervisor Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin has informed that the restrictions on the marketing, distribution and sale of financial contracts for difference (CFDs) to retail clients in Germany will continue to apply in future. BaFin first announced its decision back in May 2017, addressing the considerable investor protection concerns. Plus500 Ltd (LON:PLUS), IG Group…

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fma warning
July 23, 2019 BY Valentina Kirilova

FMA issues a Stop Order against Syndicated Trusts Limited

The New Zealand Financial Markets Authority (FMA) has informed the public that it has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products. A Stop Order can be used by the regulator in order to stop particular behaviour or force a market participant…

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fca warning
July 22, 2019 BY Valentina Kirilova

UK FCA warns against several unauthorized firms

The UK Financial Conduct Authority (FCA) has put out details of several unauthorized firms this week - James and Jenkins Consulting Group, UK Financial Management Ltd, as well as the clone firm G10 Capital Limited. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for…

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TradeStation Group launches investment education media service and trading community
July 22, 2019 BY Valentina Kirilova

Warsaw Stock Exchange launches the GPW Growth Programme

The Warsaw Stock Exchange (GPW) has informed the public that it has just launched one of the #GPW2022 strategic initiatives, named GPW Growth. GPW Growth is a comprehensive programme, supporting small and mid-sized companies based on identified needs of enterprises. GPW Growth is addressed to CEOs, Board Members and Directors responsible for the achievement of…

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cysec cif license
July 22, 2019 BY Valentina Kirilova

CySEC suspends AFX Capital Markets Ltd’s CIF license

The Cyprus regulator (CySEC) announced that it has decided to suspend the Cyprus Investment Firm (CIF) authorisation of the company AFX Capital Markets Ltd. The above decision was reached as the aforementioned alleged violation causes concern and risk relating to the protection of the Company’s clients or of the investors and constitutes a threat to…

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July 19, 2019 BY Valentina Kirilova

Singapore teams up with Kenya on developing digital infrastructure

The Monetary Authority of Singapore (MAS) has announced that it has teamed up with the Central Bank of Kenya (CBK), signing a FinTech Cooperation Agreement to support digital infrastructure development in Kenya. The partnership aims to develop basic digital infrastructure services for Kenya, including identity, data and Know-Your-Customer utility, based on a set of common…

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asic afs license
July 18, 2019 BY Valentina Kirilova

Golden Financial Group Pty Ltd's AFS licence cancelled

Australian regulator ASIC has announced yesterday that it has cancelled the Australian financial services (AFS) licence of Melbourne based financial services provider, Golden Financial Group Pty Ltd. The cancellation follows a period of suspension from 18 March 2019. The regulator has already shared its concern that Golden Financial was not complying with its general licensee…

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