The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Herald Investment Trusts. 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…
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Since publishing its first SRI report in 2015, the Autorité des Marchés Financiers (AMF) has noted an improvement in investor disclosures and is issuing new recommendations. The regulator has also prepared a first assessment of application by management companies of the Energy Transition for Green Growth Act. After conducting a first review in 2015 of…
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The Securities and Exchange Commission (SEC) informed that it has charged a registered representative in Pennsylvania with operating a long-running offering and investment advisory fraud. The SEC’s complaint, filed in federal court in Philadelphia, alleges that Paul W. Smith raised approximately $2.35 million from approximately 30 investors – many of whom were his brokerage customers…
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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 firm Asset Link International. Asset Link International is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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The Board of the Cyprus Securities and Exchange Commission (CySEC) wishes to inform the public that, at its meeting held on 25th September 2017, it decided to impose administrative fines totalling €16,000 on ASP Asoted Services Ltd for non-compliance with: Sections 58(a) and 58(c) of The Prevention and Suppression of Money Laundering and Terrorist Financing…
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The Australian Securities and Investments Commission (ASIC) has cancelled the Australian Financial Services (AFS) license of Michael James Haley after finding he has ceased to carry on a financial services business. Mr Haley's AFS license cancellation became effective on 1 November 2017. ASIC may suspend or cancel an AFS license, by giving written notice, if…
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Risk and compliance solutions provider Wolters Kluwer has announced that Ustocktrade Securities, Inc. (USTS), the first alternative trading system designed exclusively for retail investors, has selected Wolters Kluwer’s GainsKeeper Brokerage solution for cost basis reporting. The solution uses a suite of smart tools that helps firms calculate, track and report cost basis, adjusted for corporate…
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The Dubai Financial Services Authority (DFSA) deepened ties with regulators in Hong Kong today signing two cooperation agreements to enhance collaboration in financial technology (FinTech) innovation. The agreements reinforce the existing strong relationship between the authorities in the two markets, which cooperate in the regulation of the financial services sector and FinTech businesses. The DFSA…
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ASIC informed that it has updated its guidance on conflicted remuneration to more closely reflect a range of regulatory changes since the guide was issued in 2013. The updated Regulatory Guide 246 Conflicted and other banned remuneration (RG 246), previously titled Conflicted remuneration) now includes guidance on the operation of the incoming life insurance remuneration…
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CGanga is the new think tank formed under the aegis of NMCG and one of its stated objectives is to make India a world leader in river and water science. The Centre is headquartered at IIT Kanpur and represents all the leading science and technological institutes of the country. In addition, it is responsible for…
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