The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Interfinancial. 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 scam…
Read more
At its meeting on 27 September, the Supervisory Board of Moscow Exchange (MOEX) resolved to expand its strategic partnership with the Kazakhstan Stock Exchange (KASE) and approved the acquisition of an equity stake in the company. The decision comes as part of MOEX’s agreement with the KASE signed in April 2018. Moscow Exchange plans to…
Read more
The U.S. Securities and Exchange Commission (SEC) has announced that it has filed charges against an international securities dealer and its Austria-based CEO for allegedly violating the federal securities laws in connection with security-based swaps funded with bitcoins. According to the SEC’s complaint, 1pool Ltd. a/k/a 1Broker, registered in the Republic of the Marshall Islands,…
Read more
Not too surprisingly, pan European regulator ESMA has decided to extend its CFD and Forex leverage cap (and related rules) beyond the three month trial period which will end on November 1. However, ESMA did give 'something back', relaxing one of the more annoying marketing related rules it instituted (see bold text below). Interestingly, the three…
Read more
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 KontoFX. KontoFX is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…
Read more
The Securities and Exchange Commission (SEC) has announced that it has charged Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc. (NASDAQ:TSLA), with securities fraud for a series of false and misleading tweets about a potential transaction to take Tesla private. On August 7, 2018, Musk tweeted to his 22 million Twitter followers that…
Read more
The U.S. Securities and Exchange Commission (SEC) has announced that it has charged a group of internet marketers who allegedly created and disseminated elaborate rags-to-riches videos to trick retirees and other retail investors into opening brokerage accounts and trading high-risk securities known as binary options. According to the SEC’s complaints, investors were conned out of tens…
Read more
The Financial Conduct Authority (FCA) has just published a Decision Notice concerning Linear Investments Limited (Linear). Linear failed to take reasonable care to organise and control its affairs responsibly and effectively to ensure potential instances of market abuse could be detected and reported. The failure occurred from 14 January 2013 to 9 August 2015. Linear…
Read more
The Securities and Exchange Commission (SEC) has announced that a Des Moines-based broker-dealer and investment adviser has agreed to pay $1 million to settle charges related to its failures in cybersecurity policies and procedures surrounding a cyber intrusion that compromised personal information of thousands of customers. The SEC charged Voya Financial Advisors Inc. (VFA) with…
Read more
The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Minsura. 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 scam…
Read more