Category: Regulation

May 31, 2018 BY Valentina Kirilova

FCA warns against VBM Capital Partners clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm VBM Capital Partners. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Be aware that the scammers may give out other false details or mix them…

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May 31, 2018 BY Valentina Kirilova

MAS warn investors about trading on unregulated online platforms

The Commercial Affairs Department (CAD) of the Singapore Police Force and Monetary Authority of Singapore (MAS) have advised the public to exercise extreme caution when dealing with unregulated online trading platforms. CAD and MAS have received an increasing number of complaints from members of the public involving losses from unregulated online trading platforms over the…

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May 31, 2018 BY Valentina Kirilova

FCA warns against Escrow Global clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Escrow Global​​​​. 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 31, 2018 BY Valentina Kirilova

FCA warns against ISGXchange 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 ISGXchange. ISGXchanges 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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May 31, 2018 BY Valentina Kirilova

ASIC gives financial firms disclosure relief during transition to AFCA

ASIC has announced it will give financial firms, including superannuation trustees, transitional relief until 1 July 2019 to allow them time to update mandatory disclosure documents and periodic statements with the contact details of the Australian Financial Complaints Authority (AFCA). AFCA is the new single external dispute resolution (EDR) scheme for consumer and small business…

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May 30, 2018 BY Valentina Kirilova

FSC suspends AG Fiduciary Solutions Limited license

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…

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May 29, 2018 BY Valentina Kirilova

GFXC launches Global Index of Public Registers

The 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…

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May 29, 2018 BY Valentina Kirilova

Belize regulator IFSC warns against Thomas Smith company

Belize 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…

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