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 Quality Lending Service. Quality Lending Service is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
Read moreAustralian regulator ASIC announced today that it has modernised and updated its regulatory guidance on the licensing regime for financial markets. Regulatory Guide 172 Financial markets: Domestic and overseas operators (RG 172) introduces a two-tiered market licence regime, applying a risk-based assessment. The new approach has been facilitated by legislative changes, made by the Government…
Read moreThe Autorité des marchés financiers (AMF) has been warning and protecting savers with regard to the dangers of highly-speculative trading for several years now. Its legal action since 2014 to block access in France to illegal websites has resulted in the closure of 138 addresses. Faced with the expansion of proposed Forex and binary option…
Read moreThe Nova Scotia Securities Commission (NSSC) has just warned investors that 1st Trade Options/First Trade Options is not registered to sell securities in Nova Scotia. 1st Trade Options claims to be a full service options trading company located in Panama City, Panama. 1st Trade Options and its representatives solicited at least one Nova Scotia resident…
Read moreAustralian regulator ASIC announced that it has disqualified Paul Tattersall, of Western Australia, from being an approved auditor of self-managed superannuation funds (SMSF) for breaching independence requirements. ASIC found that Mr Tattersall had breached the auditor-independence requirements of APES 110 Code of Ethics for Professional Accountants in auditing his own fund and the fund of…
Read moreBelize financial regulator IFSC has issued a Warning Notice regarding a company called Binary options & Forex Inc. 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…
Read moreThe SEC’s “SALI” tool will allow investors to identify individuals subject to judgments or orders in enforcement actions The Securities and Exchange Commission (SEC) announced the launch of an additional online search feature that enables investors to research whether the person trying to sell them investments has a judgment or order entered against them in…
Read moreASIC announced that it has permanently banned Queensland financial adviser Mr Michael Gordon Taylor from providing financial services. Mr Taylor was an authorised representative of Morgans Financial Limited from 10 March 2004 until 21 September 2015. Between 2007 and 2015, Mr Taylor borrowed approximately $1.2 million from 16 clients. Borrowing from clients involved a conflict…
Read moreUK 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 Finance Lenders. Finance Lenders is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
Read moreAustralian regulator ASIC announced that it welcomes the authorisation by the Minister for Revenue and Financial Services of the operator of the new single external dispute resolution (EDR) scheme for consumer and small business complaints: the Australian Financial Complaints Authority (AFCA). AFCA will be able to deal with complaints about financial firms including banks, credit…
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