Category: Regulation

Regulation
December 05, 2017 BY Valentina Kirilova

ASIC imposes additional license conditions on MyPlanner Australia

ASIC has negotiated the imposition of additional conditions on the Australian financial services (AFS) license of MyPlanner Australia Pty Ltd (MyPlanner) after they found MyPlanner was giving poor financial advice, and lacked adequate monitoring and supervision of its representatives. As a large number of representatives and staff recently moved to a second AFS licence, MyPlanner…

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clone firm FCA warning
December 05, 2017 BY Valentina Kirilova

FCA warns against Independence Loans clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Independence Loans. 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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December 05, 2017 BY Valentina Kirilova

SIX Exchange Regulation is delisting Altin Ltd

Altin Ltd has announced, that all of its listed registered shares (Swiss Security Number 1’442’452/ ISINCH0014424524) with a nominal value of CHF 0.03 each will be delisted from SIX Swiss Exchange. SIX Exchange Regulation has granted the companies’ application on 4 December 2017. The decision with grounds regarding the delisting of Altin Ltd is available…

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December 04, 2017 BY Valentina Kirilova

SEC emergency action halts ICO scam

The Securities and Exchange Commission (SEC) announced it obtained an emergency asset freeze to halt a fast-moving Initial Coin Offering (ICO) fraud that raised up to $15 million from thousands of investors since August by falsely promising a 13-fold profit in less than a month. The SEC filed charges against a recidivist Quebec securities law…

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December 04, 2017 BY Valentina Kirilova

Xetra trading ready for MiFID II

Update for Deutsche Börse's T7 trading system / Regulatory requirements implemented As of today, Xetra trading announced that it is ready to meet the requirements of MiFID II, the European Markets in Financial Instruments Directive, which goes into effect at the beginning of 2018. Deutsche Börse's underlying T7 trading system was therefore updated to Release…

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fca warning
December 04, 2017 BY Valentina Kirilova

FCA warns against Pension Services 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 Pension Services. Pension Services is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…

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December 04, 2017 BY Valentina Kirilova

CySEC fines Bank of Cyprus and its former directors for accounting disclosure failures

The Cyprus Securities and Exchange Commission (CySEC) announced that it has imposed a series of fines totaling €595,000 on Bank of Cyprus Public Company (the “Company”) and ten of its former directors - including its former Chief Financial Officer (together, the “directors”) - for individual and collective failings to make adequate provision for doubtful debts…

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fca warning
December 04, 2017 BY Valentina Kirilova

FCA warns against Chesterfield International Partners 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 Chesterfield International Partners. Chesterfield International Partners is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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French AMF warns against unauthorized companies proposing atypical investments
December 01, 2017 BY Valentina Kirilova

AMF warned of unauthorized companies proposing atypical investments without authorization

Wine, forests, photovoltaic panels, works of art or diamonds: intermediation in miscellaneous assets may cover several sectors. Since July 2017, the French regulator Autorité des Marchés Financiers (AMF) has been providing a list of unauthorized diamond investments platforms: this list is now including other miscellaneous assets proposals. Law No. 2016-1691 of 9 December 2016 on transparency,…

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clone firm FCA warning
December 01, 2017 BY Valentina Kirilova

FCA warns against Hume Capital Management clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Hume Capital Management. 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…

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