Later this year, the Financial Conduct Authority (FCA) informed that it will consult on proposals to make information available on a wider range of individuals at authorised firms. The FCA and Prudential Regulation Authority (PRA) currently maintain a public Financial Services Register, “the FS Register”, of the firms they regulate and the individuals they have…
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The Securities and Futures Commission (SFC) announced that it has entered into an agreement with the Swiss Financial Market Supervisory Authority (FINMA) to establish a framework for cooperation on financial technology (Fintech). Under the agreement, the SFC and FINMA will cooperate to share information on emerging Fintech trends, developments and related regulatory issues as well…
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ASIC announced that it has applied to the Federal Court of Australia for the appointment of a liquidator to Superfunded Pty Ltd, a WA-based company that encouraged customers to set up self-managed super funds. In particular, ASIC alleges that Superfunded in encouraging customers to set up self-managed super funds: by itself or through its officer…
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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 website solidcfd.com. solidcfd.com is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…
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Securities & Investment Company UAE (SICO UAE) announced that it has joined Nasdaq Dubai’s derivatives market as a Member, in order to provide its clients with new opportunities to take positions on regional share markets. The move is the latest step in a regional expansion programme by Bahrain-based SICO. This has also included SICO UAE…
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The Monetary Authority of Singapore (MAS) and the Government of Maharashtra (GoM) (Maharashtra is India’s second-most populous state and third-largest state by area. Mumbai is the capital city of Maharashtra) announced that they have signed a Memorandum of Understanding (MoU) on 18 February 2018 to strengthen cooperation in promoting FinTech innovation in the two markets.…
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The Australian Securities and Investments Commission (ASIC) announced that it has banned Brisbane based financial adviser Christopher Ramsay from providing financial services for a period of five years for failing to act in the best interests of his clients, and giving advice that was not appropriate. ASIC found that Mr Ramsay failed in his obligations…
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Following a number of reports from savers regarding the website www.bil-gestionpatrimoine.com and the entity Bil Patrimoine, the Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de résolution (ACPR) have issued a public warning. Bil Patrimoine and the website www.bil-gestionpatrimoine.com are not authorized either by the AMF or by the ACPR to…
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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 Teramusu. Teramusu is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…
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The Australian Securities and Investments Commission (ASIC) announced that it has banned Perth-based financial adviser Philip Leake from providing financial services for a period of five years. ASIC found that Mr Leake failed to act in his clients' best interests when providing advice on life insurance. ASIC's surveillance of Mr Leake found that he had…
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