The sites affected include four illegal financial intermediaries and one website promoting an unregistered brokerage platform, Consob said in a statement. The move brings the total number of blacklisted sites to 1,252 since July 2019, when the regulator was given the authority to block financial websites it deems as fraudulent under the "Growth Decree" and…
Read more
The failures allegedly exposed sensitive client data over a four-year period. According to ASIC, FIIG failed to implement adequate cybersecurity measures between March 2019 and June 2023, allowing a hacker to infiltrate its IT network undetected for nearly three weeks. This breach resulted in the theft of approximately 385GB of confidential data, affecting 18,000 clients,…
Read more
The regulator revealed in a filing that the failures included deficiencies in its anti-money laundering (AML) program and market manipulation oversight. According to FINRA, between September 2019 and October 2023, Redbridge, which provides self-directed trading to retail investors, failed to establish an AML program reasonably designed to detect and report suspicious activity. The firm’s oversight…
Read more
The fine is said to be for breaches of organisational requirements related to derivative sales, investment advice recording, and account switching delays at its Postbank branch. The largest portion of the fine—€14.8 million—was issued for Deutsche Bank’s failure to investigate and address compliance shortcomings in its sale of currency derivatives in Spain. The bank took…
Read more
The affected sites include three unauthorised financial intermediaries and one website promoting financial products without a prospectus, according to the regulator. Consob said it exercised its authority under the "Growth Decree," which allows Consob to block access to fraudulent financial services operating online. The websites ordered to be blacked out are: Flowtradey (https://flowtradey.nl) State Street…
Read more
According to the CMA, individual traders at each bank shared competitively sensitive pricing information via private one-to-one Bloomberg chatrooms between 2009 and 2013. The unlawful exchanges were said to be related to gilt auctions, trading, and sales to the Bank of England. Deutsche Bank also participated in the chatrooms. However, it is exempt from a…
Read more
The permit allows eToro (Europe) Ltd to provide regulated cryptoasset services across all EU member states, subject to notification requirements. Avi Sela, eToro’s Chief Operating Officer, highlighted the importance of regulatory oversight in the crypto sector. "We appreciate the importance of regulation to protect consumers, support financial stability, facilitate transparency, and build trust," he said. …
Read more
The firm was also found to have lacked a proper supervisory system and failed to comply with filing requirements. Between June 2018 and December 2021, Cova is said to have recommended three private placements without verifying key details about the issuers and investment risks. As a result, FINRA determined that Cova willfully violated Regulation Best…
Read more
FINRA said in its release that the fine is for publishing inaccurate trade execution reports and failing to maintain adequate supervisory procedures. New York-based GTS, which specialises in market-making and proprietary trading, also received a censure as part of the settlement. According to FINRA, between May 2019 and March 2021, GTS published 23 inaccurate monthly…
Read more
The regulator has particularly focused on cryptoasset firms, debt solution providers, and claims management companies (CMCs). The FCA reported that 9,197 CMC promotions were withdrawn, many linked to housing disrepair and motor finance claims targeting vulnerable consumers. Additionally, the regulator said it has ramped up enforcement against "finfluencers," resulting in 20 people being interviewed under…
Read more