The SEC’s “SALI” tool will allow investors to identify individuals subject to judgments or orders in enforcement actions The Securities and Exchange Commission (SEC) announced the launch of an additional online search feature that enables investors to research whether the person trying to sell them investments has a judgment or order entered against them in…
Read moreASIC announced that it has permanently banned Queensland financial adviser Mr Michael Gordon Taylor from providing financial services. Mr Taylor was an authorised representative of Morgans Financial Limited from 10 March 2004 until 21 September 2015. Between 2007 and 2015, Mr Taylor borrowed approximately $1.2 million from 16 clients. Borrowing from clients involved a conflict…
Read moreUK 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 Finance Lenders. Finance Lenders is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
Read moreAustralian regulator ASIC announced that it welcomes the authorisation by the Minister for Revenue and Financial Services of the operator of the new single external dispute resolution (EDR) scheme for consumer and small business complaints: the Australian Financial Complaints Authority (AFCA). AFCA will be able to deal with complaints about financial firms including banks, credit…
Read moreThe Monetary Authority of Singapore (MAS) announced that it will introduce regulations to require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs), with effect from 1 October 2018. Central clearing will make the trading of OTC derivatives in Singapore safer as it mitigates counterparty credit risks inherent in these trades. The mandatory clearing…
Read moreThe high trading volume on the cash markets since the beginning of the year has led to new records in ETF trading on Xetra, Europe's platform for exchange-traded funds, Deutsche Boerse announced earlier today. The first quarter of 2018 saw a total of more than 1.9 million orders executed, the highest number since the products…
Read moreThe UK Financial Conduct Authority (FCA) has put out details of the cloned firm Marc Hermann Wealth 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…
Read moreAustralian regulator ASIC has just announced that it cancelled the registration of 117 approved self-managed superannuation fund (SMSF) auditors who did not lodge their annual statements. Notice of cancellation was sent to these auditors on 20 February 2018. On 10 November 2017, ASIC sent a final warning to 404 approved SMSF auditors with outstanding annual…
Read moreThe Autorité des marchés financiers (AMF) has just issued a public warning regarding the activities of the website https://epargne-eco.fr/, proposing savers to invest in various projects and pretending to be a crowdfunding advisor (CIP) – or about to be registered. The website https://epargne-eco.fr/ offers investors the opportunity to invest in different kind of projects as…
Read moreThe Australian Securities and Investments Commission (ASIC) has announced that it cancelled the Australian Financial Services (AFS) license of NSW-based Mackellar Financial Services Pty Ltd (Mackellar). Mackellar's AFS license has been cancelled, following a suspension in October 2017, for continued failure to lodge financial statements and auditor's reports for a period of four years. Licensees…
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