Category: Financial Services

May 17, 2018 BY Valentina Kirilova

SEC charges owner of investment firm in Belize Airport financing scam

The Securities and Exchange Commission (SEC) announced that it has charged the owner of a Manhattan-based alternative investment firm with misappropriating close to $6 million in investor funds earmarked to finance the construction of an international airport in Belize. The SEC’s complaint alleges that between 2014 and 2017, Brent Borland sold more than $21 million…

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May 17, 2018 BY Valentina Kirilova

Cboe, IHS Markit and BlackRock to launch first U.S. corporate bond index futures

Cboe Global Markets, Inc. (Nasdaq: CBOE) has announced a collaboration with IHS Markit Ltd. (Nasdaq: INFO) and BlackRock, Inc. (NYSE:BLK), for Cboe to develop the first-ever broad-based U.S. corporate bond index futures. The new futures’ design will leverage the deep and liquid iShares ETF ecosystem and iBoxx index expertise to create exchange-listed products that are…

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May 16, 2018 BY Valentina Kirilova

FCA warns against Monevo Loans clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Monevo Loans. 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…

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May 16, 2018 BY Valentina Kirilova

FCA warns against Revolution Variable Systems

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

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May 16, 2018 BY Valentina Kirilova

Hong Kong SFC highlights concerns noted in licensing applications

The Securities and Futures Commission (SFC) today published the latest issue of its SFC Compliance Bulletin: Intermediaries to highlight its concerns when it considers licensing applications and provide an update on the implementation of the Manager-In-Charge (MIC) regime. Case studies illustrate the SFC’s regulatory focus and areas of concern which could result in the refusal…

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May 16, 2018 BY Valentina Kirilova

ASIC cancels AFS license of Wealth & Risk Management

Australian regulator ASIC announced that it has cancelled the Australian financial services (AFS) license of Wealth & Risk Management Pty Ltd (WRM). On 9 February 2018, the Federal Court of Australia, in the matter of ASIC v Wealth & Risk Management Pty Ltd (No 2) [2018] FCA 59, found that WRM breached numerous financial services…

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May 16, 2018 BY Valentina Kirilova

Canadian regulator OSC warns against offshore FX broker Meta Investing

Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian regulator OSC has issued a warning against an entity called Metainvesting. Metainvesting, also operating as Meta Investing, and doing business as www.metainvesting.com is not registered in Ontario to engage in the business of trading in securities. The OSC…

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May 15, 2018 BY Valentina Kirilova

FCA warns against Option Stars Global 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 Option Stars Global. Option Stars Global is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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