Australian regulator ASIC has released its Corporate Plan for 2018-19 to 2021-22 and small business continues to be an important stakeholder for ASIC, reflected in the plan’s action items for 2018-19. ASIC Commissioner John Price said: As Australia’s regulator for companies, financial markets and providers of financial services and consumer credit, ASIC works to help…
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All managed discretionary account (MDA) providers must now have an Australian financial services (AFS) license, with an MDA-specific ‘dealing by issue’ licence authorisation, Australian regulator ASIC announced earlier today. From today, MDA providers who do not have the required AFS license authorisations must cease providing MDAs until they have obtained those authorisations. An MDA is…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Northern Trust. 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…
Read moreThe Securities and Exchange Commission (SEC) has charged Brazilian oil-and-gas company Petróleo Brasileiro S.A. with misleading U.S. investors by filing false financial statements that concealed a massive bribery and bid-rigging scheme at the company. The U.S. Department of Justice also announced today a non-prosecution agreement with Petrobras. The SEC’s order finds that senior Petrobras executives…
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The Cyprus Securities and Exchange Commission (CySEC) has just informed the public that it has reached a settlement with CIF AFX Capital Markets Ltd. The settlement is for the amount of €50.000. The Company has paid the amount of €50.000. The complete text of the regulator’s decision can be seen below: Announcement date: 28.09.2018 Board decision date:…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Interfinancial. 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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Not too surprisingly, pan European regulator ESMA has decided to extend its CFD and Forex leverage cap (and related rules) beyond the three month trial period which will end on November 1. However, ESMA did give 'something back', relaxing one of the more annoying marketing related rules it instituted (see bold text below). Interestingly, the three…
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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 KontoFX. KontoFX is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Minsura. 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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The Securities Commission Malaysia (SC) has informed the public that it has revoked the Capital Markets Services Representative’s Licences (CMSRLs) of two individuals, namely Ewe Lay Peng (Ewe) and Tan Yee Chee (Tan). Ewe and Tan’s CMSRLs were revoked effective 3 September 2018 as the SC has reason to believe that they are no longer…
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