Former Spectrum Wealth adviser banned from providing financial services for five years LeapRate

May 26, 2020 BY Steffy Bogdanova

Former Spectrum Wealth adviser banned from providing financial services for five years

ASIC found that Lewis advised his clients to use a Limited Recourse Borrowing Arrangement (LRBA) to fund the purchase of real property through a self-managed superannuation fund (SMSF). In addition, Lewis also provided insurance advice to his clients. When giving this financial advice, Lewis did not asses whether SMSF and borrowed funds to invest in…

May 22, 2020 BY Steffy Bogdanova

Canadian regulator BCSC warns against Ziptradex Limited, Profit Earn and others

The BCSC recently discovered advertisement for work from hope for global funds transfer work from Euroasia Global International Financial Corporation (Europe), also known as 全球信託基金協会. The company offered returns of up to 1,500 times the principal to at least one British Columbia resident. Euroasia Global International Financial Corporation (Europe) does not appear to be registered…

May 22, 2020 BY Steffy Bogdanova

National Bonds, Solar Claim Experts and others added to FCA warning list

National Bonds Address: 19 Oxendon St, West End London SW1Y 4EE Telephone: 0208 089 7399 Website: nationalbonds.org.uk Solar Claim Experts Telephone: 0800 009 6459 Email: [email protected] Website: solarclaimexperts.com British Bond Compare Address: 25 Cabot Square, London, E14 4AP Telephone: 020 3456 9800 Email: [email protected] Website: http://www.britishbondcompare.com/ Darwinenc.com / Darwinexc.com (clone of FCA authorised firm) Website:…

May 21, 2020 BY Steffy Bogdanova

CySEC issues warnings for websites everfx.uk, bitoptionstrade247.com and others

The CySEC has included the following websites to its warning list: www.everfx.uk bitoptionstrade247.com gtm.fxaddress.com tradesopen.com fxgmfx.com royalfxpro.eu invest-absolute.com justproforex.com binancecapitaloptions.com metafinancetrade.com 21stfxoptions.com amelok.com exmsolution.com CySEC urges investors to consult its website, before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities. Read More:…

May 20, 2020 BY Steffy Bogdanova

New Zealand FMA adds Altrice Investment Co. Limited to its warning list

New Zealand watchdog found that Altrice Investment is not a registered financial service provider and recommend exercising caution if approached by the company. Hong Kong Securities Futures Commission has also published a warning about Altrice Investment noting it is an unlicensed entity in Hong Kong. The warning also notes that Altrice is using bank accounts in Hong…

May 20, 2020 BY Steffy Bogdanova

UKcompare.org, The Bond Market and others added to FCA warning list

UKcompare.org Address: 86 Baker Street, W1U 6AG, London Website: www.ukcompare.org The Bond Market Address: 101 Gresham St, London, EC2R 7HE Telephone: 020 386 9873 Email: [email protected] Website: www.the-bondmarket.com Universal Loans Address: 31 Charles Street, Manchester M17DG, United Kingdom Telephone: 01613750199, 01618500797 Email: [email protected] Website: www.universalloans.co.uk Bit-Holdings Address: 6 London Street, London EC3R 7LP and Seedammstrasse…

May 19, 2020 BY Steffy Bogdanova

World Federation of Exchanges embraces the suspension of the ban on short selling

WFE published a paper reviewing the academic literature on short-selling and short-selling bans, comparing the arguments against banning short-selling with the arguments in favour. “What does academic research say about short-selling bans?” almost unanimously indicates that short-selling bans are disruptive for the orderly functioning of markets. They are found to reduce liquidity, increase price inefficiency…

May 19, 2020 BY Steffy Bogdanova

New Zealand FMA adds Pioneer Income to its warning list

New Zealand watchdog received a report that Pioneer Income representatives have made unsolicited calls to a New Zealand resident to sign up to their online trading system via their website. Pioneer Income is not registered as a financial service provider in New Zealand and is therefore not permitted to provide financial services/products to New Zealand residents.…

May 18, 2020 BY Steffy Bogdanova

French regulator suspends ban on short selling

AMF wanted to avoid any pro-cyclical influence that the considerable uncertainties and decline in the market may have caused and implemented the unprecedented measure of prohibiting net short positions. Since the ban, markets have partly reduced their losses, trading volumes and volatility levels, although still high, have resumed to more normal positions. The French market’s…

May 18, 2020 BY Steffy Bogdanova

ASIC cancels Tailormade Financial Strategies’ AFS licence

Responsible entities holding an AFS licence are obligated to have the minimum level of net tangible assets of $150,000. Ausfunds failed to maintain this level of financial resources over two consecutive financial reporting periods, despite reminders from its auditor about the financial requirements of its AFS licence. ASIC has the power to suspend or cancel…

Category: Regulation