Category: Regulation

clone firm FCA warning
November 08, 2017 BY Valentina Kirilova

FCA warns against Bokan Capital clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Bokan Capital. 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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Breaking news: FXDD buying MahiFX UK FCA license
November 08, 2017 BY Valentina Kirilova

FCA launches Wholesale Insurance Brokers Market Study

The Financial Conduct Authority (FCA) has today launched a market study to assess how competition is working in the wholesale insurance broker sector. The FCA wants to ensure that the sector is working well, and fosters innovation and competition in the interests of its diverse range of clients. The London insurance market is one of…

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asic afs license
November 08, 2017 BY Valentina Kirilova

ASIC cancels AFS licenses of Divitiarum Audax Pty Limited and Mackellar Financial Services

ASIC announced that it has cancelled the Australian financial services (AFS) license of NSW-based Divitiarum Audax Pty Limited (Divitiarum Audax) and suspended the AFS licence of NSW-based Mackellar Financial Services Pty Ltd (Mackellar). Mackellar's AFS license has been suspended from 31 October 2017 until 30 April 2018for failing to lodge financial statements and auditor's reports…

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FCA
November 07, 2017 BY Valentina Kirilova

FCA response to PSR’s paper on authorised push payment scams

The Financial Conduct Authority (FCA) has contributed to the Payment Systems Regulator (PSR) paper on Authorised Push Payment Scams. This follows the Which? super-complaint regarding safeguards in the market for push payments. In December 2016, the FCA committed to identify if there were any firm-specific or sector-wide issues in the way banks handle authorised push…

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sfc bans
November 07, 2017 BY Valentina Kirilova

SFC bans former relationship manager of Citibank (Hong Kong) Limited

The Hong Kong Securities and Futures Commission (SFC) has banned Mr Yeung Leung Yuen, a former relationship manager of Citibank (Hong Kong) Limited (Citibank), from re-entering the industry for three years for conducting unauthorized transactions in a client’s securities account (Yeung was a relevant individual engaged by Citibank to carry on Type 1 (dealing in…

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November 06, 2017 BY Valentina Kirilova

MAS issues Explanatory Brief for Payment and Settlement Systems

Mr Lim Hng Kiang, Minister for Trade and Industry (Trade), and Deputy Chairman, Monetary Authority of Singapore (MAS), on behalf of Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of the Monetary Authority of Singapore, today moved the Payment and Settlement Systems (Finality and Netting) (Amendment) Bill (the “Bill”) for First Reading in…

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FCA
November 06, 2017 BY Valentina Kirilova

FCA publishes Future Approach to Consumers

The Financial Conduct Authority (FCA) has today published its ‘FCA Mission – Our Future Approach to Consumers’. The complete text of the announcement can be seen below: When the FCA launched its Mission, it committed to publishing a series of documents that would explain its approach to regulation in more depth. The FCA’s Approach to…

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French AMF warns against unauthorized companies proposing atypical investments
November 03, 2017 BY Valentina Kirilova

French AMF consults on changes to its General Regulation in preparation for MiFID II

The French Autorité des Marchés Financiers (AMF) announced that it is holding a public consultation on changes to Books III and V of its General Regulation, which deal with investment services providers and market infrastructures respectively. This marks the final stage before implementation of the new framework for markets in financial instruments on 3 January…

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