Category: Financial Services

sec charges
February 21, 2019 BY Valentina Kirilova

Spartan Securities Group and Island Capital Management charged with bogus companies’ fraud

The U.S. Securities and Exchange Commission (SEC) opened charges against Spartan Securities Group, Ltd., a broker-dealer, and Island Capital Management LLC, a transfer agent, which also operates as Island Stock Transfer, for creating and selling a minimum of 19 bogus public companies. The scheme was initiated by Spartan Securities, which filed documents with the Financial…

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FCA warning
February 21, 2019 BY Valentina Kirilova

FCA imposes first fines on anti-competitive behavior

The UK’s Financial Conduct Authority (FCA) today made a decision using its powers to enforce competition laws by ruling that three asset management companies violated competition law. The ruling as made against the following firms: River and Mercantile Asset Management LLP (RAMAM) Newton Investment Management Limited Hargreave Hale Ltd The FCA imposed a £306,300 fine…

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TMX Group
February 20, 2019 BY Valentina Kirilova

TMX joins UN Sustainable Stock Exchanges initiative

The TMX Group (TSX:X) today revealed that the Toronto Stock Exchange and its peer the TSX Venture Exchange are now part of the United Nations Sustainable Stock Exchanges (SSE) program to further sustainability and transparency within capital markets. The new partnership will allow the TMX Group to engage in dialogue with its peers on how exchanges…

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February 20, 2019 BY Valentina Kirilova

SEC votes for the full adoption of a pilot modernization program to all issuers

The US Securities and Exchange Commission (SEC) has voted in favor of expanding its pilot program on the modernization of allowing investors to share their opinions regarding potential offerings at a much earlier stage than the current one. According to the provisions of the new rule and its amendments, the "test-the-waters" accommodation currently used by emerging growth…

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warning
February 20, 2019 BY Valentina Kirilova

Canadian regulator BCSC warns against ICG International Commodities Group

Canadian securities regulator the British Columbia Securities Commission (BCSC) issued a warning today against a suspicious entity named ICG International Commodities Group. ICG International Commodities Group (ICG) operates via the website www.i-c-g.it and claims to be a full-service trading and consulting firm, specializing in the commodities markets. The company also claims to have an office…

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cysec cif license
February 19, 2019 BY Valentina Kirilova

CySEC issues warning against unregulated websites

Cyprus financial regulator CySEC has just made an announcement regarding several unregulated websites. The websites below do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities: www.stm-fx.com www.jennocrypto.com bitoptionfx.com CySEC has repeatedly urged investors to consult its official website before conducting…

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ICE Clear Europe recognized as a third-country CCP by ESMA
February 19, 2019 BY Valentina Kirilova

ICE Clear Europe recognized as a third-country CCP by ESMA

The European Securities and Markets Authority (ESMA) declared on Monday that in case the UK left the EU with no deal, it would authorize three central counterparties from the UK to operate in the EU legally. The three CCPs are LCH Limited, LME Clear Limited and ICE Clear Europe Limited, which are all registered and headquartered in…

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fca warning
February 19, 2019 BY Valentina Kirilova

FCA warns against K2 Wall Street

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company K2 Wall Street. K2 Wall Street is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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social trading
February 19, 2019 BY Valentina Kirilova

Pledgecamp launches crowdfunding platform to protect Kickstarter backers

MetaLab announced that it has launched its decentralized crowdfunding platform Pledgecamp aimed at protecting investors who back Kickstarter projects. In the past, creators would design a product or software and showcase a prototype to Kickstarter investors who would then decide whether to back the project or not. However, the Kickstarter projects lacked an accountability system,…

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regulations
February 19, 2019 BY Valentina Kirilova

ESMA releases supportive opinion regarding BaFin’s ban on short selling

The European Securities and Markets Authority (ESMA) has finally released its official opinion regarding the 2-month ban on the short selling of Wirecard AG (Wirecard) shares instituted by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). The ban was based on the Short Selling Regulation as an emergency measure, which became effective at 06:00 CET today before the trading session…

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