Retail forex broker FXCM Group, LLC has just announced that it has signed a Memorandum of Understanding (MoU) with The Dubai Gold and Commodities Exchange (DGCX). Both sides confirmed that they intend to launch new products on the DGCX Exchange. Les Male, Chief Executive Officer of DGCX, stated: It is our aim to ensure that we continue…
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The Financial Conduct Authority (FCA) has just announced that it intends to change how banks charge for overdrafts. Alongside this, the FCA will extend protections for other high-cost credit products. Andrew Bailey, Chief Executive of the FCA commented: Today we are proposing to make the biggest intervention in the overdraft market for a generation. These…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Creditstar UK Limited. 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 part of their tactics…
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The Financial Conduct Authority (FCA) has just published its new rules and fees that will apply to all claims management companies (CMCs) from April 2019. Jonathan Davidson, Executive Director of Supervision – Retail and Authorisations at the FCA, said: We’re ready to take over regulation on 1 April 2019. The new regime aims to drive…
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Australian regulator ASIC has just issued a warning against the scam companies Luxembourg Offshore Banking and LUXOSB Limited. Scammers are claiming to be from ASIC, although they are not regulated it, nor licensed or authorised in Australia to provide financial services. Both scam companies are using the cold-calling method, and claim to offer an investment…
Read moreThe Securities and Exchange Commission (SEC) has informed the public that it has charged a former New York-based investment adviser and his daughter with conducting a multi-million dollar Ponzi scheme. The individuals have defrauded local community members as well as members of their family and close friends. The official announcement by SEC reads as follows:…
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The Financial Services and Markets Authority (FSMA) has just issued a warning against the irregular activities of Saga Nagoya Securities. Saga Nagoya Securities Addresses: 40F Midtown Tower, 9 Chome-7-1 Akasaka, Minato, Tokyo, Japan 56F Shanghai Tower, 501, Yincheng Middle Road, Pudong, Xinqu, Shanghai Shi, China Website: www.snscredit.com Email: [email protected]; [email protected] Tel.: +81 3 4578 8350…
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Last month, the Financial Conduct Authority (FCA) has contributed to the Payment Systems Regulator (PSR) paper on Authorised Push Payment Scams. Following a super-complaint by Which?, the consumer watchdog, the regulators found that receiving PSPs could do more to identify fraudulent incoming payments and prevent accounts from being compromised by fraudsters. The FCA has today published new rules allowing…
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UK financial regulator Financial Conduct Authority (FCA) has just announced that it has fined the UK investment professional Angela Burns £20,000. The regulator has also banned her from acting as a non-executive director. The official and complete FCA announcement can be seen below: The Financial Conduct authority (FCA) has banned Angela Burns from acting as a non-executive director (NED)…
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In an important step towards increasing the transparency of securities financing markets, the European Commission announced earlier today that it has adopted a package new measures under the Securities Financing Transactions Regulation (SFTR). The SFTR requires all securities financing transactions to be reported to a central database called "trade repository". The delegated and implementing acts…
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