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…
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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 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:…
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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…
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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…
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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…
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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…
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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…
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FTSE Russell, the global index, data and analytics provider, has confirmed that the China A Shares market will be promoted to Secondary Emerging market status following the September 2018 annual country classification review. FTSE Russell formally reviews country classifications within its FTSE Global Equity Index Series (FTSE GEIS) using a comprehensive, transparent and consistent methodology.…
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The Securities Commission Malaysia (SC) has informed the public that it has revoked the Capital Markets Services Representative’s Licences (CMSRLs) of two individuals, namely Ewe Lay Peng (Ewe) and Tan Yee Chee (Tan). Ewe and Tan’s CMSRLs were revoked effective 3 September 2018 as the SC has reason to believe that they are no longer…
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STOXX Ltd., the operator of Deutsche Boerse Group’s index business, and a global provider of innovative and tradable index concepts, has informed that it has licensed the EURO STOXX Multi Premia Index to Credit Suisse Asset Management as an underlying for an index fund. The index integrates the academic, research-based Multi Premia® methodology developed by…
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