Category: Regulation

warning
August 14, 2017 BY Valentina Kirilova

Belize regulator IFSC warns against Trine Markets Group Ltd.

Belize financial regulator IFSC (International Financial Services Commission) has issued a warning regarding Trine Markets Group Ltd. It has come to the notice of the IFSC that Trine Markets Group Ltd, operating under the trading name TRINEMARKETS is falsely claiming to be ‘controlled’ by the IFSC. The representation made on the website, https://www.trinemarkets.com that the…

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asic bans
August 14, 2017 BY Valentina Kirilova

ASIC bans Queensland financial adviser

The Australian Securities and Investment Commission (ASIC) has banned financial adviser Travis Byron McLean from providing financial services for a period of five years. ASIC found that Mr McLean failed to act in his clients' best interests when providing advice and that he failed to comply with several financial services laws. ASIC Deputy Chairman Peter…

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clone firm FCA warning
August 11, 2017 BY Valentina Kirilova

FCA warns against Kleinwort Benson (Ventures) clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Kleinwort Benson (Ventures). 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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August 11, 2017 BY Valentina Kirilova

CySEC informs potential applicants for the MIFID II authorization requirements

The Cyprus Securities and Exchange Commission (CySEC) has made an announcement, informing all interested parties about the Authorisation of Data Reporting Service Providers. In particular, this Announcement aims to inform potential applicants and assist them in their preparations for the MIFID II authorization requirements, which will apply from 3 January 2018. Firms that intend to…

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CFTC offices
August 11, 2017 BY Valentina Kirilova

CFTC staff grants relief to market participants from certain position aggregation

The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) has granted relief to market participants in complying with certain position aggregation requirements. This relief is being provided until August 12, 2019. Previous relief was set to expire on August 14, 2017. During the period of the time-limited no-action relief issued today, DMO…

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ESMA ceases renewal of product intervention CFDs measures
August 11, 2017 BY Valentina Kirilova

ESMA agrees first position limits under MiFID II

The European Securities and Markets Authority (ESMA) has published its first three opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR). ESMA’s opinions agree with proposed position limits by the Autorité des Marchés Financiers (AMF) regarding: • Rapeseed; • Corn; and • Milling wheat. ESMA found…

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clone firm FCA warning
August 10, 2017 BY Valentina Kirilova

FCA warns against Money Solutions UK clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Money Solutions UK. 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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fca warning
August 10, 2017 BY Valentina Kirilova

FCA warns against Paramount Law Boston 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 Paramount Law Boston. Paramount Law Boston is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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Regulation
August 10, 2017 BY Valentina Kirilova

ANZ pays further $10.5 million to consumers for OnePath breach

The Australian Securities and Investments Commission (ASIC) has confirmed an additional $10.5 million in compensation for 160,000 superannuation customers who were affected by breaches within the OnePath group between 2013 and 2016. ASIC has been monitoring the resolution of a number of OnePath breaches. This has resulted in ANZ (the parent company of OnePath) providing…

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