Category: Financial Services

SFC fines
August 17, 2018 BY Valentina Kirilova

Citigroup pays more than $10 million for inadequate controls

The Securities and Exchange Commission (SEC) has announced that Citigroup has agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, internal accounting controls, and trader supervision. The charges stem from $81 million of losses due to trader mismarking and unauthorized proprietary trading and $475 million of losses…

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ASIC
August 16, 2018 BY Valentina Kirilova

ASIC disqualifies former director from managing companies

Australian regulator ASIC has announced that it has disqualified Jason Andrew Hammond of Cameron Park, NSW, from managing companies for the maximum period of five years as a result of his involvement in three failed companies. ASIC found that Mr Hammond: improperly used his corporate position by causing assets to be transferred for little or…

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FCA warning
August 16, 2018 BY Valentina Kirilova

FCA warns against ArielBank Plc

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 ArielBank Plc. ArielBank Plc 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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SFC fines
August 16, 2018 BY Valentina Kirilova

SEC fines Ameriprise Financial Services $4.5 million

The Securities and Exchange Commission (SEC) has announced that Ameriprise Financial Services Inc. will pay $4.5 million to settle charges that it failed to safeguard retail investor assets from theft by its representatives. According to the SEC’s order, five Ameriprise representatives committed numerous fraudulent acts, including forging client documents, and stole more than $1 million…

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fca warning
August 16, 2018 BY Valentina Kirilova

FCA warns against Schroeder Law Firm

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 Schroeder Law Firm. Schroeder Law Firm is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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fca warning clone firm
August 15, 2018 BY Valentina Kirilova

FCA warns against Capital Finance Group Limited clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Capital Finance Group 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…

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SFC fines
August 15, 2018 BY Valentina Kirilova

Royal Bank of Scotland pays $4.9 billion for financial crisis-era misconduct

The Justice Department has announced a $4.9 billion settlement with The Royal Bank of Scotland Group plc (RBS) resolving federal civil claims that RBS misled investors in the underwriting and issuing of residential mortgage-backed securities (RMBS) between 2005 and 2008. The penalty is the largest imposed by the Justice Department for financial crisis-era misconduct at…

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fca warning
August 15, 2018 BY Valentina Kirilova

FCA warns against Allmedia Limited trading as Gallant Finance

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 Allmedia Limited t/a Gallant Finance. Allmedia Limited is not authorised by the FCA but has been targeting people in the UK and is also carrying on…

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TASE releases trading fees comparison table for investors
August 15, 2018 BY Valentina Kirilova

TASE releases trading fees comparison table for investors

For the First Time, the Tel-Aviv Stock Exchange (TASE) has started publishing on its website trading and clearing fees that TASE members charge their clients, in a manner that enables comparison between fees charged by different TASE members. The TASE Ownership Restructuring Law, which was promoted by the Ministry of Finance and the Israel Securities…

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