The cancellation comes after the Australian Financial Complaints Authority (AFCA) issued a determination against RPD Group on 12 July 2024, which the company failed to honour. ASIC explained that on 13 November 2024, the CSLR compensated the affected consumer with $62,421.00 and notified ASIC, prompting the cancellation of RPD Group's licence on 21 November 2024.…
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Brokerage ActivTrades said Thursday that it has obtained a new regulatory licence from the Financial Services Commission (FSC) in Mauritius, bolstering its capacity to serve international clients. The latest move is said to align with the firm’s ongoing expansion strategy and further enhance its position in key global markets. The Mauritius licence is the fifth…
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The Chicago-based brokerage, a FINRA member since 2016, was also censured as part of the settlement. Between July 2021 and July 2023, FINRA said Tastytrade failed to establish and maintain a supervisory system in compliance. They added that the firm’s written supervisory procedures (WSPs) were said to have been inadequate, lacking clear processes for reviewing…
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The violations, which spanned several years, are said to have highlighted lapses in advertising practices, supervision, and privacy compliance. According to FINRA’s findings, retail trading platform Moomoo Financial paid social media influencers to promote its services but failed to ensure these promotions were "fair and balanced." FINRA said some influencer posts made misleading claims about…
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The company said the licence approval is set to bolster its capacity to facilitate larger capital raises and broaden its investment offerings. The newly gained licence enables NSI to specialise in private placements of securities and referral business. It is designed to assist companies raising equity capital under Regulation A (Reg A) and Regulation D…
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The regulator said that between June 2020 and February 2022, Travis Klein, a trader at the bank, was able to record and conceal these fraudulent trades to mask his mounting losses. Despite previous warnings about weaknesses in its systems, Macquarie Bank failed to implement effective measures to prevent such misconduct, according to the FCA. “Despite…
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The FCA announced the decision and said it follows Barclays’ withdrawal of its referral of the case to the Upper Tribunal. “The action was based on findings which included that Barclays' conduct in its October 2008 capital raising was reckless and lacked integrity,” stated the FCA. The regulator explained that it first issued warning notices…
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Metro Bank has been fined £16.67 million by the Financial Conduct Authority (FCA) for serious financial crime failings, the regulator revealed on Tuesday. The FCA said that between June 2016 and December 2020, Metro failed to implement adequate systems and controls to monitor over £51 billion worth of transactions for potential money laundering. They explained…
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The financial giant was found to have breached several rules, including a failure to implement sufficient pre-trade controls and a lack of adequate monitoring of trading activity. The incident that led to the fine occurred on May 2, 2022, when a significant price drop was observed across multiple financial instruments and indices traded on Nasdaq…
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The latest move brings the total number of blacklisted websites to 1,162 since July 2019. The blacklisted websites include: Tradetospace Global Limited (website: https://tradetospace.com) Continental Invest Ltd (website: https://continental-invest.ltd) "TradexService" (website: https://tradexservicescfd.com) "2139 Exchange" (websites: https://2139b.com and https://2139c.com) "Eminent Miner" (website: https://eminent-miner.com) Consob used its authority granted by the "Growth Decree" and additional powers introduced…
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