Category: Financial Services

Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks
September 15, 2017 BY Valentina Kirilova

SEC charges SunTrust with improperly recommending higher-fee mutual funds

The Securities and Exchange Commission (SEC) announced that has charged the investment services subsidiary of SunTrust Banks with collecting more than $1.1 million in avoidable fees from clients by improperly recommending more expensive share classes of various mutual funds when cheaper shares of the same funds were available. SunTrust Investment Services has agreed to pay…

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ASIC office
September 15, 2017 BY Valentina Kirilova

Financial adviser sentenced for making false statements to ASIC

Mr Michael Davie, of Keilor East, Victoria, has appeared in the Melbourne Magistrates Court and pleaded guilty to three charges of making false or misleading statements in documents submitted to ASIC. The charges, which follow an ASIC investigation, allege that on or about 3 August 2016, and in support of an application for an Australian…

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fca warning
September 15, 2017 BY Valentina Kirilova

FCA warns against FCA Market - Financial Contract Authority 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 firm FCA Market - Financial Contract Authority. FCA Market - Financial Contract Authority is not authorised by the FCA but has been targeting people in the UK…

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Belize regulator IFSC warning
September 14, 2017 BY Valentina Kirilova

Belize regulator IFSC warns against Harvey Lennon individual

Belize financial regulator IFSC has issued a Warning Notice regarding a person by the name of ‘Harvey Lennon’ who is falsely and fraudulently representing to hold a personal licence issued by IFSC for the carrying on of the business of Expert Advisor/ Consultancy/ Advisory for Trading in Foreign Exchange. The Licence carrying his name is…

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September 14, 2017 BY Valentina Kirilova

Bats welcomes new Global X Fund to the Bats ETF Marketplace

Bats, a CBOE Holdings, Inc. (NASDAQ:CBOE) company has today welcomed a new Global X fund to the Bats ETF Marketplace, with the launch of one fund. The Global X U.S. Preferred ETF (Bats: PFFD) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the BofA…

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Belize FX regulation
September 14, 2017 BY Valentina Kirilova

Belize regulator IFSC warns against Bitcoin wallet company Birch Stone Limited

Belize financial regulator IFSC has issued a Warning Notice regarding a company called Birch Stone Limited. It has come to the notice of the International Financial Services Commission of Belize (IFSC) that Birch Stone Limited, an International Business Company registered in Belize, operating with trading name Bitlio, is offering bitcoin wallet services which allows its…

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Deutsche Börse
September 14, 2017 BY Valentina Kirilova

Deutsche Börse AG paves the way for closure of the investigation proceedings

The Executive Board (Vorstand) and the Supervisory Board (Aufsichtsrat) of Deutsche Börse AG announced that have decided to seek an understanding with the Frankfurt Public Prosecutor. The Company will inform the Public Prosecutor that it would accept the fines announced in relation to the accusations of an alleged violation of the prohibition against insider trading…

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clone firm FCA warning
September 13, 2017 BY Valentina Kirilova

FCA warns against Positive Lending clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Positive Lending. 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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