The Securities and Exchange Commission (SEC) has announced that it has charged the founder of San Francisco-based venture capital funds and his investment advisory firm with overcharging investors to fund personal projects, including sending millions of dollars to his own virtual reality production company. The SEC’s complaint alleges that Michael B. Rothenberg, 34, marketed his…
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Information giant Thomson Reuters (NYSE:TRI) and the Singapore FinTech Association (SFA) have announced that they have committed to join forces on projects and initiatives contributing to the development of the FinTech industry in Singapore. The collaboration will involve working closely with financial institutions, local universities and startups, focusing on leveraging emerging technologies to solve issues…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Loan Skipper. 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 to…
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Australian regulator ASIC has announced that Mr Darren James Lind, aged 47 of Brighton, South Australia, has been found guilty of two charges of insider trading in shares of ASX listed mining exploration company Minotaur Exploration Ltd (Minotaur). The verdict follows a two week trial before Judge Tracey in the District Court of South Australia.…
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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 Olimp Finance (owned by Cassius Services Limited). Olimp Finance is not authorised by the FCA but has been targeting people in the UK and is also…
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The U.S. Securities and Exchange Commission (SEC) has announced that Merrill Lynch, Pierce, Fenner & Smith has agreed to pay approximately $8.9 million to settle charges that it failed to disclose a conflict of interest arising out of its own business interests in deciding whether to continue to offer clients products managed by an outside third-party advisory…
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U.S. brokerage industry regulator FINRA has announced that it has fined Interactive Brokers LLC $5.5 million for Regulation SHO violations and supervisory failures spanning a period of at least three years. To limit ongoing naked short positions, firms are required by the SEC’s Reg SHO, after completion of a short sale transaction, to deliver the…
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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 Ostrich Capital. Ostrich Capital is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Orbit Investment Services. 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…
Read moreThe Securities and Exchange Commission (SEC) has announced that it has voted to adopt amendments to certain disclosure requirements that have become duplicative, overlapping, or outdated in light of other Commission disclosure requirements, U.S. Generally Accepted Accounting Principles (GAAP), or changes in the information environment. The amendments are intended to simplify and update the disclosure…
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