Category: Financial Services

SFC fines
May 30, 2019 BY Valentina Kirilova

China Merchants Securities (HK) Co. Limited fined $5 million for mishandling client money

The Hong Kong Securities and Futures Commission (SFC) informed that it has reprimanded China Merchants Securities (HK) Co., Limited (China Merchants). The regulator has also fined the company $5 million for regulatory breaches and internal control failings related to mishandling of client money. 800 incidents happened between 1 October 2011 to 30 September 2014, where…

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fca warning
May 30, 2019 BY Valentina Kirilova

UK FCA issues several warnings against unauthorized companies

UK financial regulator Financial Conduct Authority (FCA) has issued several warnings against unregulated financial services providers targeting UK consumers. The FCA’s latest warnings include the companies CFD Premium, Key Markets Limited, and TurnFX / Turn FX. The FCA has once again strongly advised individuals to only deal with financial firms that are authorised by the…

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cysec
May 30, 2019 BY Valentina Kirilova

CySEC mirrors ESMA's desicion to restrict the marketing, distribution and sale of CFDs

The Cyprus regulator CySEC has just issued a consultation, mirroring ESMA’s last year restrictions on the marketing, distribution and sale of contracts for difference CFDs. LeapRate reminds that in April the Dutch AFM has also made some changes regarding the marketing, distribution or sale of Binary Options and CFDs to retail investors in and from The Netherlands. Since…

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fca warning clone firm
May 29, 2019 BY Valentina Kirilova

FCA issues some more clone firm warnings this week

Busy week for the UK Financial Conduct Authority (FCA), as it has put out details of several more clone firms yesterday. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as…

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SFC fines
May 29, 2019 BY Valentina Kirilova

NSSC fines FPE Trading $165,000

The Nova Scotia Securities Commission announced earlier today that it has ordered Jean-Smaille Germeil and FPE Trading to pay an administrative penalty of $150,000, as well as to cover all the costs in connection with the investigation and conduct of this proceeding before the Commission in the amount of $15,000. Germeil and FPE Trading have repeatedly…

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fca warning
May 20, 2019 BY Valentina Kirilova

UK FCA issues several warnings against unauthorized companies

UK financial regulator Financial Conduct Authority (FCA) has issued several warnings against unregulated financial services providers targeting UK consumers. The FCA’s latest warning includes the companies Platinum Global Associates, Bealgo, and 10 Capital / 10-Capital. The FCA has once again strongly advised individuals to only deal with financial firms that are authorised by the regulator,…

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