ASIC’s cost recovery framework has been finalised, incorporating changes made after broad industry consultation. The framework, outlined in Report 535 ASIC cost recovery arrangements: 2017-18, identifies industry sectors and provides a methodology for how the levies will be calculated. As a result of legislation passed on 15 June 2017, industry funding will see regulated entities…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm AXA IM Asia. 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 Canadian Securities Administrators (CSA) has today published CSA Staff Notice 33-320 The Requirement for True and Complete Applications for Registration to caution firms and individuals about the potential consequences of submitting false or misleading applications for registration. Each year, CSA staff receive many applications for registration that omit relevant information or contain information that…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Alpha Consulting. 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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The Securities and Exchange Commission (SEC) announced that has brought fraud charges against 13 individuals allegedly involved in two Long Island-based cold calling scams that bilked more than one hundred victims out of more than $10 million through high-pressure sales tactics and lies about penny stocks. The SEC alleges that the orchestrators of the scheme…
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The Securities and Exchange Commission (SEC) announced insider trading charges against a research scientist who allegedly searched the internet for “how sec detect unusual trade” before making a trade that the agency flagged as suspicious through data analysis. The SEC’s complaint alleges that Fei Yan loaded up on stocks and options in advance of two…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Lending Stream. 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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A new requirement for securities firms to report certain transactions in Treasury securities to FINRA was implemented successfully yesterday, providing regulators with a new tool to increase understanding and enhance surveillance of this bellwether market. The rule requires that FINRA member firms report secondary-market transactions in Treasury securities except savings bonds to TRACE, FINRA’s Trade…
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The European Banking Authority (EBA) published today its final Guidelines on the information to be provided by applicants intending to obtain authorisation as payment and electronic money institutions as well as to register as account information service providers (AISP) under the revised Payment Service Directive (PSD2). These Guidelines are in support of the objective of…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Rothschild Asset 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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