The UK regulator FCA has put out details of three clone firms yesterday. 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 people in…
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Australian regulator ASIC informed today that it has approved changes to the Australian Financial Complaints Authority (AFCA) Rules which give effect to the AFCA authorisation condition introduced by Government on 19 February 2019. The Government requires AFCA to give expanded access to the AFCA scheme for consumers and small businesses that were harmed by financial…
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Australian regulator ASIC has earlier today released its guidance for Australian financial service (AFS) licensees about how they can mitigate the risks to their clients and business of share sale fraud. Share sale fraud is the fraudulent activity of a person who is not who they claim to be, selling shares that do not belong…
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The Financial Conduct Authority (FCA) and the China Securities Regulatory Commission (CSRC) have made it clear today that they both approve the Shanghai and London Stock Exchanges’ proposed new Shanghai-London Stock Connect. The Stock Connect scheme launches today and is a aims to encourage cross-border investment between the countries and provide investors and companies in…
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The Financial Markets Authority (FMA) has just issued a public warning against a scam company called Willow Group Limited. Details of the company can be seen below: Willow Group Limited Address: Rykaden Capital Tower, 135 Hoi Bun Road, Kwun Tong, Hong Kong Website: www.willowmgmt.com Email: [email protected] According to the regulator, Willow Group Limited is not…
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Regulators have a tough enough time policing their domestic jurisdictions, but with the complexities of global commerce, cyber threats proliferating across the globe, and shady virtual businesses evading the rule of law, the need for ample coordination and cooperation between national regulators is paramount. Due to this need, the United States Commodity Futures Trading Commission…
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Dubai International Financial Centre Authority (DIFC Authority) announced today that its Board of Directors has issued the Investment Cell Company (ICC) Regulations, which came into force on 1 May 2019. Insurers and Fund Managers will be able to use an Incorporated Cell Company (ICC) formed under the new ICC Regulations for conducting their respective fund…
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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 company Collier Consulting Group LLC. Collier Consulting Group LLC is not authorised by the FCA but has been targeting people in the UK and is also carrying…
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UK financial regulator Financial Conduct Authority (FCA) has issued several warnings against unregulated financial services providers targeting UK consumers. The FCA’s latest warnings include the companies Hedge Prestige Bank and Stepsworth Consulting Group; as well as the clone firms Everyday Loans, ECM Asset Management Limited, HG Financial Management Co - Huber Gustav, Van Gossum Consult,…
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The deed is done. Financial ministers of the G20 group have now decided to confront the crypto industry with tough new rules related to Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter the Funding of Terrorism (CFT), much as is now required of banks across the globe. The Financial Action Task Force (FATF) spent…
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