Category: Regulation

asic bans
May 15, 2017 BY Valentina Kirilova

ASIC bans director and employee of Corporate Superannuation Pty Ltd

ASIC announced that has banned Mr Stuart Arnold-Levy from providing financial services for a period of four years and Mr David Heycock from providing financial services for a period of six years following an investigation. Mr Heycock was the director of Corporate Superannuation Pty Ltd (previously Australian Superannuation Pty Ltd and Superannuation in Australia Today…

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clone firm FCA warning
May 15, 2017 BY Valentina Kirilova

FCA warns against London Global Markets clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm London Global Markets. 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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May 15, 2017 BY Valentina Kirilova

CommexFX client ICF compensation process paper issued by CySEC

Pursuant to the Cyprus Securities and Exchange Commission (CySEC)'s announcement, the Investor Compensation Fund for IF Clients (ICF) shared the commencement of the compensation payment process by the ICF to the covered clients of CommexFX Ltd. The address of CommexFX, whose authorisation has been suspended since July 2016, was at 4 Profiti Ilia street, Kanika…

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asic charges
May 15, 2017 BY Valentina Kirilova

Former Jacqalex Pty Ltd director jailed for dishonesty

Mr Gavin Keith Hyland has been convicted in the Brisbane District Court on two counts of dishonestly using his position to misappropriate investor funds. In relation to the first count, Mr Hyland was sentenced to two years imprisonment and one year imprisonment for the second count. The sentences are to be served concurrently, ASIC shared…

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clone firm FCA warning
May 15, 2017 BY Valentina Kirilova

FCA warns against We.Insure clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm We.Insure. 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 scam…

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crypto scam protection interview
May 15, 2017 BY Valentina Kirilova

Australia consumer watchdog reports $11.6 million of cold calling binary options scams in 2016

During Consumer Fraud Week 2017, ASIC is reminding consumers to protect themselves against investment scams. ASIC Deputy Chairman Peter Kell said: The Targeting Scams report published today by the Australian Competition and Consumer Commission (ACCC) shows reports to Scamwatch on investment scams increased in 2016. ASIC is alerting the public to ways to stay informed…

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sec building
May 12, 2017 BY Valentina Kirilova

SEC names Lucas Moskowitz Chief of Staff

The Securities and Exchange Commission (SEC) announced that Lucas Moskowitz has been named the agency’s chief of staff. Lucas’s diverse background in both the public and private sectors has given him valuable experience in all three areas of the SEC’s core mission, and I am delighted to have him on board,” said SEC Chairman Jay…

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Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks
May 12, 2017 BY Valentina Kirilova

SEC charges law firm partner in $1 million insider trading scheme

The Securities and Exchange Commission (SEC) charged a former partner at an international law firm and his neighbor with making more than $1 million in illicit profits by insider trading around corporate announcements. The SEC alleges that Walter C. Little accessed confidential documents on his law firm’s internal computer network related to at least 11…

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fca warning
May 12, 2017 BY Valentina Kirilova

FCA warns against Clayton Wealth Advisory 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 Clayton Wealth Advisory/ Clayton Worth Advisory / Clayton Wells. Clayton Wealth Advisory/ Clayton Worth Advisory / Clayton Wells is not authorised by the FCA but has…

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