Category: Regulation

Finma Logo
August 29, 2025 BY Sam Boughedda

FINMA Flags PostFinance Weakness in Emergency Planning

In its 2024 assessment, FINMA confirmed that the emergency plans for Zürcher Kantonalbank (ZKB) and Raiffeisen meet regulatory standards.  However, PostFinance’s plan remains insufficient, with the institution still lacking adequate recapitalisation capacity to absorb losses in the event of a crisis. PostFinance acknowledged the issue last year and has been raising the necessary funds since…

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August 28, 2025 BY Sam Boughedda

ASIC Cancels BDS Accounting's Licence Over Unpaid Levies

The cancellation took effect on 28 July 2025 and was announced by ASIC on Thursday.  ASIC explained that under section 915B(3)(e) of the Corporations Act 2001, it has the authority to suspend or cancel an AFS licence where a licensee has not paid levies imposed under the ASIC Supervisory Cost Recovery Levy Act 2017, including…

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August 28, 2025 BY Sam Boughedda

ASIC Cancels MWL’s Licence and Bans Director Over Advice Failures

The Australian Securities and Investments Commission (ASIC) found that between 2021 and 2024, MWL operated a so-called “low cost advice project” using referrals from telemarketers, leading more than 750 clients to invest $155 million in Shield.  ASIC said MWL failed to act in clients’ best interests, used misleading statements of advice, and had undisclosed bonus…

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finra
August 27, 2025 BY Sam Boughedda

FINRA Fines J.P. Morgan Securities $150,000 Over IPO Prospectus Lapses

According to FINRA, between January 2018 and December 2021 the firm’s written supervisory procedures were not reasonably designed to ensure compliance with federal securities law requirements.  The regulator explained that under Rule 15c2-8(b) of the Securities Exchange Act of 1934, firms must provide customers expected to participate in an IPO with a preliminary prospectus at…

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LSEG, London Stock Exchange
August 27, 2025 BY Sam Boughedda

FCA Approves LSE as First Operator of New Private Stock Market PISCES

PISCES, or the Private Intermittent Securities and Capital Exchange System, will allow buyers and sellers of shares in private companies to trade on an intermittent basis.  It is the world’s first regulated private stock market and will operate initially within the FCA’s financial markets infrastructure sandbox before a permanent regime is finalised in 2030. Simon…

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August 27, 2025 BY Sam Boughedda

TerraCom Fined $7.5 Million in ASIC Whistleblower Case

The case centred on two ASX announcements made by TerraCom in February and April 2020, along with an open letter published in the Australian Financial Review and The Australian in March 2020.  In these communications, the company claimed that allegations made by a whistleblower were false and that its employees had been independently cleared. TerraCom…

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FINRA building
August 25, 2025 BY Sam Boughedda

FINRA Fines U.S. Bancorp Investments $500,000 Over Reporting Failures

Between April 2020 and August 2023, USBI reportedly did not submit 42 SARs because it applied an incorrect monetary threshold when assessing suspicious transactions.  The firm used the $25,000 reporting threshold applicable to banks instead of the $5,000 threshold required for broker-dealers.  FINRA added that as a result, activity involving account intrusions, identity theft and…

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August 21, 2025 BY Sam Boughedda

ASIC Expands Scam Takedowns to Target Social Media Ads

The Australian Securities and Investments Commission (ASIC) said on Thursday that the expansion is part of its effort to protect consumers from fraudsters who increasingly use digital platforms to lure investors.  Since the takedown program began two years ago, more than 14,000 scam and phishing websites have been removed, with around 130 malicious sites shut…

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