The company explained in a press release that the move strengthens its global regulatory footprint and commitment to providing secure and regulated trading environments for its clients. The CySEC licence adds to Doo Group's existing regulatory approvals from the UK, Australia, Hong Kong and Malaysia. The expansion into the European Union, under the supervision of…
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The investigation originated from Käärmann's inclusion on the HMRC list of individuals who received penalties for deliberate tax defaults in 2017/2018. While the FCA said in its release that it did not find that Käärmann acted with a lack of integrity or was unfit to perform his role, it determined that he should have notified…
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The move aims to protect consumers and ensure that BNPL providers operate fairly and responsibly. On Thursday, the UK government launched a consultation on draft legislation to regulate the BNPL market. The proposed regulations seek to provide consumers with clear information, prevent unaffordable borrowing, and establish strong consumer rights. The FCA welcomed the government's consultation…
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Prospero's AFS license was suspended in December 2023 after the company failed to submit its 2023 audited financial accounts. Following an application by ASIC, the Federal Court ordered Prospero to be wound up and liquidators appointed in April 2024. Under the Corporations Act, ASIC said it has the power to suspend or cancel an AFS…
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In a press release, the regulator explained that the FMIs, which include entities such as financial market operators, benchmark administrators, clearing and settlement facilities, and derivative trade repositories, play a vital role in facilitating trading in Australia's capital markets. The new laws, part of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill…
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The SEC alleged that eToro operated as an unregistered broker and clearing agency by facilitating the buying and selling of certain crypto assets that were deemed securities. In response, eToro has agreed to pay a $1.5 million penalty, while it has also agreed to "cease and desist from violating the applicable federal securities laws and…
Read more"This achievement underscores Naqdi's unwavering commitment to regulatory compliance, transparency, and offering innovative solutions tailored to the needs of the modern trader," the company said in its press release. The SCA license, one of the most stringent in the UAE, ensures that licensed entities adhere to the required standards of financial practice and governance. By…
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The settlement, announced by Attorney General Rob Bonta, is the first public action by the California Department of Justice (DOJ) against a cryptocurrency company. The investigation revealed that during the period, Robinhood (Specifically Robinhood Crypto, LLC) prevented customers from withdrawing their cryptocurrency, forcing them to sell their assets back to the platform to exit trades. The…
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The cancellation follows an ASIC investigation that uncovered "serious concerns" about FXOpen AU's ability to properly oversee its financial services and meet its licensing requirements. ASIC explains that the investigation identified shortcomings in FXOpen AU's human resources, specifically its lack of qualified personnel to deliver financial services and maintain adequate supervisory arrangements. In addition, ASIC…
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The investigation covered the period between 31 July 2018 and 3 June 2019, which was the period when the fund was suspended due to liquidity issues. During that time, LFS didn’t manage the liquidity of the fund. This is necessary so that investments can be turned into cash and investors can access their funds quickly.…
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