After prolonging license suspensions and fines, the Cyprus Securities and Exchange Commission (CySEC) announces that, on its meeting of 25th July 2016, has decided to wholly withdraw the Cyprus Investment Firm authorisation with number CIF 153/11 of CommexFx Ltd, operating at www.commexfx.com. The reasons: The Company had not complied with section 28(1) of the Law…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Matchpoint Finance PLC. 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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ASIC has cancelled the Australian Financial Services (AFS) licence of Parramatta-based company Rural & General Insurance Broking Pty Limited (RGIB) for failing to comply with their legal obligations and licence conditions. In particular, ASIC has found that RGIB failed to lodge annual financial statements and auditor's reports for the financial years ending 30 June 2014…
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The Securities and Exchange Commission (SEC) announced that Kara Novaco Brockmeyer, Chief of the Enforcement Division’s Foreign Corrupt Practices Act (FCPA) Unit, is planning to leave the agency later this month. Since 2011, Ms. Brockmeyer has led a national unit of 38 attorneys, accountants, and other specialists focusing on violations of the anti-bribery and accounting…
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The Canadian Securities Administrators (CSA) published for comment Proposed National Instrument 93-101 Derivatives: Business Conduct and a related proposed companion policy. The proposed instrument establishes an investor protection regime for over-the-counter (OTC) derivatives markets that is consistent with international standards and foreign requirements and is intended to create a uniform approach to derivatives business conduct…
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The European Securities and Markets Authority (ESMA) has added 10 new Q&As to its Questions and Answers (Q&A) document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR). The MiFID II Q&A provide clarifications on the following topics: Best execution; Suitability; Post sale reporting; Inducements…
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The Autorité des Marchés Financiers (AMF) published a summary of the feedback submitted in response to the public consultation launched in November 2016 on the future performance simulations offered to retail investors. It is also publishing a draft recommendation and best practices for this area. In November 2016, the AMF launched a consultation on the future…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm The Loan Expert / www.theloan.expert. 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…
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The National Commission for Companies and the Stock Exchange (Commissione Nazionale per le Società e la Borsa – CONSOB) just reported that the company Investing Group Trading is not authorised to offer out-of-the-office, or promote or place through remote communication techniques in Italy, investment services or business in any way, and, therefore, neither through the…
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Mr Steven Robert Noske, of Subiaco, Western Australia has today been found guilty and convicted on one count of insider trading brought by ASIC after a two week trial in the Western Australian Supreme Court. The charge related to the acquisition of 750,000 WestSide Corporation Limited shares between 6 and 10 February 2012 via a…
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