Category: Financial Services

SFC fines
September 14, 2018 BY Valentina Kirilova

Cowen Execution Services fined $2.75 million for providing deficient blue sheet data

The Securities and Exchange Commission (SEC) has announced that Convergex Execution Solutions LLC, now known as Cowen Execution Services LLC, will pay $2.75 million to settle charges that the broker-dealer firm provided the SEC with incomplete and deficient securities trading information known as “blue sheet data.” According to the SEC’s order, for nearly four years…

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cysec cif license
September 14, 2018 BY Valentina Kirilova

CySEC withdraws CIF license of Ouroboros Derivatives Trading Ltd

Cyprus financial regulator Cyprus Securities and Exchange Commission (CySEC) has announced that it has decided to withdraw the CIF license of a company called Ouroboros Derivatives Trading Ltd. The complete text of the regulator's decision can be seen below: Announcement date: 13.09.2018 CySEC Decision date: 03.09.2018 Regarding: Ouroboros Derivatives Trading Ltd Legislation: The Investment Services…

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clone firm FCA warning
September 13, 2018 BY Valentina Kirilova

FCA warns against Bradshaw Asset Management clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Bradshaw Asset Management. 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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FCA warning
September 13, 2018 BY Valentina Kirilova

FCA warns against www.forex.com.vn

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 www.forex.com.vn. The FCA believes this firm has been providing financial services or products in the UK without its authorisation. This firm is not authorised by the FCA and…

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SEC uses data analysis to detect cherry-picking by broker
September 13, 2018 BY Valentina Kirilova

SEC uses data analysis to detect cherry-picking by broker

The Securities and Exchange Commission (SEC) has announced that it has charged a New Jersey-based broker with misusing his access to customers’ brokerage accounts to enrich himself and family members at the expense of his customers, many of whom had entrusted him with their retirement accounts. The SEC uncovered the alleged fraud with data analysis…

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fca warning clone firm
September 13, 2018 BY Valentina Kirilova

FCA warns against Bestinvest clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Bestinvest. 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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ASIC office
September 13, 2018 BY Valentina Kirilova

AAT upholds ASIC banning of former Westpac adviser

The Administrative Appeals Tribunal (AAT) has informed the public that it has upheld the decision of ASIC to ban former Perth financial adviser Mr Jason Sean Atkins from providing financial services for three years. Mr Atkins provided advice to clients to establish a self-managed superannuation fund (SMSF) and use limited recourse borrowing arrangements to fund…

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fca warning
September 13, 2018 BY Valentina Kirilova

FCA warns against Cap Governance LLP 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 Cap Governance LLP. Cap Governance LLP is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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SFC fines
September 13, 2018 BY Valentina Kirilova

United Technologies to pay $14 million for violating FCPA

The Securities and Exchange Commission (SEC) has announced that Connecticut-based United Technologies Corporation will pay $13.9 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by making illicit payments in its elevator and aircraft engine businesses. According to the SEC’s order, United Technologies subsidiary Otis Elevator Co. made unlawful payments to…

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Nasdaq
September 13, 2018 BY Valentina Kirilova

NZX signs memorandum of understanding with Nasdaq

New Zealand’s exchange (NZX) has informed that it has signed a memorandum of understanding (MoU) with Nasdaq. This memorandum demonstrates the commitment both exchanges have to work more closely to connect their capital markets for the benefit of companies and investors in each country. NZX Chair James Miller commented: We are pleased to have extended…

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