Category: Financial Services

August 20, 2018 BY Valentina Kirilova

SEC adopts amendments to simplify and update disclosure requirements

The 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that it has voted to adopt amendments to certain disclosure requirements that have become duplicative, overlapping, or outdated in light of other Commission disclosure requirements, U.S. Generally Accepted Accounting Principles (GAAP), or changes in the information environment.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…

Read more
fca warning
August 20, 2018 BY Valentina Kirilova

FCA warns against Bora Bora Bank

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

Read more
FCA warning
August 20, 2018 BY Valentina Kirilova

FCA warns against 365 Markets

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 365 Markets. 365 Markets is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…

Read more
fca warning
August 17, 2018 BY Valentina Kirilova

FCA warns against Ally Tuxedo Bank 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 Ally Tuxedo Bank Plc. Ally Tuxedo Bank Plc is not authorised by the FCA but has been targeting people in the UK and is also carrying…

Read more
Hong Kong SFC
August 17, 2018 BY Valentina Kirilova

Hong Kong SFC addresses risks in securities margin financing

The Hong Kong Securities and Futures Commission (SFC) has launched a two-month consultation on proposed guidelines to clarify, codify and standardise the risk management practices for securities margin financing (SMF). The proposed guidelines provide qualitative guidance as well as quantitative benchmarks for margin lending policies and key risk controls to prevent SMF brokers from expanding…

Read more
fma scam alert
August 17, 2018 BY Valentina Kirilova

New Zealand FMA warns against Kensley Asset Management

The Financial Markets Authority (FMA) has just issued a warning against a scam company called Kensley Asset Management. Kensley Asset Management Address: 77 Knightsbridge London SW1X 7RB Website: www.kensley.co.uk Phone: +44 (20) 70434508 Email: [email protected] Reason for warning: Kensley Assessment Management is not registered on the Financial Service Providers Register to provide financial services in…

Read more
FCA warning
August 17, 2018 BY Valentina Kirilova

FCA warns against Oladimeji Junior Oyefeso 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 Oladimeji Junior Oyefeso / Elijah Oyefeso. Oladimeji Junior Oyefeso / Elijah Oyefeso is not authorised by the FCA but has been targeting people in the UK…

Read more
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…

Read more