Category: Regulation

ASIC office
September 21, 2018 BY Valentina Kirilova

ASIC extends relief for foreign financial services providers

Australian regulator ASIC has extended to 30 September 2019 licensing relief for foreign financial services providers (FFSPs) to allow them to provide financial services to Australian wholesale clients without needing to hold an Australian financial services license. The licensing relief that is extended by ASIC is in the following instruments: ASIC Corporations (Repeal and Transitional)…

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sfc bans
September 20, 2018 BY Valentina Kirilova

SFC bans a former relationship manager of HSBC for 12 months

The Hong Kong Securities and Futures Commission (SFC) has informed the public that it has banned Mr Ngo Wing Chun, a former relationship manager of Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for 12 months from 20 September 2018 to 19 September 2019 for unauthorized transfer of customer data. The SFC…

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Regulation
September 20, 2018 BY Valentina Kirilova

Financial firms must join AFCA now

Australian regulator ASIC has warned all Australian financial services licensees, Australian credit licensees, authorised credit representatives and superannuation trustees that they must join the Australian Financial Complaints Authority (AFCA) now if they have not already done so. The Minister for Financial Services set a membership deadline for joining AFCA of 21 September 2018. This can…

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fma warning
September 20, 2018 BY Valentina Kirilova

ASIC stops misleading ICOs and crypto-asset funds targeted at retail investors

Australian regulator ASIC has announced that it has taken action to stop several proposed initial coin offerings or token-generation events (together, ICOs), targeting retail investors. ASIC has recently stopped the issue of a Product Disclosure Statement for a crypto-asset managed investment scheme. Consistent problems identified by ASIC are: the use of misleading or deceptive statements…

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fca warning
September 19, 2018 BY Valentina Kirilova

FCA warns against The All Star Index 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 company The All Star Index. The All Star Index is not authorised by the FCA but has been targeting people in the UK and is also carrying…

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FCA warning
September 18, 2018 BY Valentina Kirilova

FCA warns against Redcap Management 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 company Redcap Management. Redcap Management is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…

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clone firm FCA warning
September 18, 2018 BY Valentina Kirilova

FCA warns against Kainz Werner Anton clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Kainz Werner Anton. 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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bscs warning
September 18, 2018 BY Valentina Kirilova

FCA warns against Hakopa, Williams and Partners

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 Hakopa, Williams and Partners. Hakopa, Williams and Partners is not authorised by the FCA but has been targeting people in the UK and is also carrying…

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fca warning
September 18, 2018 BY Valentina Kirilova

FCA warns against Anahera and Partners 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 company Anahera and Partners. Anahera and Partners is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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