The Financial Services Commission, Mauritius (FSC) has just announced that the Management Licence held by AG Fiduciary Solutions Limited (formerly known as ABBEYGATE FINANCIAL SERVICES LIMITED) has been suspended with effect from 28 May 2018. In accordance with Section 27(5) of the FSA, AG Fiduciary Solutions Limited shall cease to carry out the activity authorized…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against X-Change Financial Access LLC (XFA) of Chicago, Illinois, for failure to diligently supervise its employees’ handling of its customer accounts and failure to preserve complete records. At the time of the conduct charged, XFA was registered with the CFTC as…
Read moreThe Global Foreign Exchange Committee (GFXC) has just announced that it has launched the Global Index of Public Registers (Global Index) to serve as a central reference point for demonstrated commitment to the FX Global Code (Code). Following the initial publication of the Code in May 2017, Market Participants expressed interest in developing public registers…
Read moreBelize financial regulator IFSC has issued a Warning Notice regarding a company called Thomas Smith. The entity is not licensed under the IFSC Act to provide, carry on, transact, or hold himself out as providing, carrying on, or transacting any of the international financial services as set out in the Schedule of the IFSC Act…
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 White Square Trading Limited trading as Universe Markets. White Square Trading Limited is not authorised by the FCA but has been targeting people in the UK…
Read moreInvesco has announced that it is launching three ETFs for investors wanting passive exposure to floating rate notes (FRNs), an asset class seeing increased demand from investors concerned about rising interest rates. In 2017, 20% of the flows into European fixed income ETFs went into FRN ETFs, and 55% in the first quarter of 2018…
Read moreThe Hong Kong Securities and Futures Commission (SFC) announced that it has publicly reprimanded and fined Noah Holdings (Hong Kong) Limited (Noah HK) HK$5 million over Noah HK’s internal system and control failures in its sale and distribution of investment products. In particular, Noah HK had failed to comply with various regulatory requirements on know-your-client,…
Read moreThe Financial Markets Authority (FMA) has just issued a warning to a company called Coin City Limited. Coin City Limited Website: www.coincity.co.nz The FMA has recommended exercising caution before dealing with website www.coincity.co.nz as it has the characteristics of a scam. The website www.coincity.co.nz is not associated with, nor an authorised representative of the New…
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 Get Financial. Get Financial is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
Read moreThe European Securities and Markets Authority (ESMA) informed that it has published its Final Report on Guidelines on certain aspects of the MiFID II suitability requirements. The assessment of suitability is one of the most important requirements for investor protection in the MiFID framework. It applies to the provision of any type of investment advice,…
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