The Financial Conduct Authority (FCA) has today launched its new asset management authorisation hub. The hub has been launched to support new firms by assisting when they apply for authorisation, throughout the authorisation process and afterwards. The authorisation hub will not lower entry standards to the market and entrants will need to meet the same…
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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 Forest Advisory Service. Forest Advisory Service is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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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 Loan 4 Help. Loan 4 Help is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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ASIC just announced that has accepted an enforceable undertaking (EU) from Sentinel Private Wealth Pty Ltd (SPW) after ASIC found SPW was giving poor financial advice and that client file audits were inadequate. Under the EU, SPW will engage an independent expert to assess, make recommendations and report on SPW's audit framework. The independent expert's…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Way to Finance. 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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The Securities and Exchange Commission (SEC) announced that it has charged two lawyers it alleges helped facilitate a microcap fraud scheme involving undisclosed “blank check” companies secretly bound for reverse mergers. In complaints filed in the U.S. District Court for the Southern District of Florida, the SEC alleges that James M. Schneider of Hillsboro Beach,…
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Cyprus financial regulator CySEC has announced that it has withdrawn the suspension of the CIF license granted to Binary Options broker Optionrally Financial Services Ltd. The reasons given by CySEC for suspending the company's license in the first place involved issues involving protection of clients’ funds, the company’s own funds, and the company’s capital adequacy…
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The Commodity Futures Trading Commission (CFTC) has announced the filing of a Complaint on October 2, 2017, in the U.S. District Court for the Central District of California. The CFTC Complaint, filed under seal, charges Defendants Scott Allensworth (d/b/a Capital Growth Group Associates and Cobra Development Group LLP), of Newhall, California; his California company E-Slate,…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Alliance Trust Savings Limited. 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…
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Mr Peter David Roach, of Burradoo, NSW, has been found guilty of fraud and other related offences in the Sydney District Court, ASIC announced earlier today. Mr Roach was the former executive chairman and director of health food chain Healthzone Limited (currently under external administration). Following an ASIC investigation, Mr Roach was charged with conspiracy to…
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