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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These new rules will align the country’s merger practices with those of developed economies. Coming into effect on 1 January 2026, these regulations aim to identify and prevent anti-competitive deals. Gina Cass-Gottlieb, the chairperson of ACCC, said: We welcome the Treasurer’s announcement today that the government will move to strengthen Australia’s merger laws, which…
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These divisions reportedly did not implement protocols to create, sustain, and execute suitable supervisory systems regarding non-traditional ETPs. This action comes a decade after FINRA fined the company for similar transgressions. Since the 2014 misdeeds, the Stifel Financial Corporation (SF) subsidiaries devised new policies, but these also seemingly fell short of regulatory requirements. Investors hold…
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The five investigations concern potential breaches by Alphabet Inc’s (GOOG), which owns Google, Apple Inc. (AAPL), and Meta Platforms, Inc. (META). Instigating these probes only two weeks after the DMA’s deadline shows the European Union (EU) is taking the legislation and gatekeeper compliance seriously. The law came into effect on 7 March 2024. It requires…
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European authorities have been mulling over the possibility of seizing frozen Russian assets, including those belonging to the central bank, to fund Ukraine's reconstruction. However, there are concerns that the negative impacts of such an action, including possible retaliation and a decrease in confidence in European assets, might outweigh the benefits. Using a currency as…
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Questioning reporting on its debt and earnings before interest, taxes, depreciation and amortisation (EBITDA), Gotham alleges misrepresentations in this regard to reduce the Grifols leverage ratio. The hedge fund further stated that the actual leverage ratio is about 10 to 13 times the EBITDA, instead of the six times reflected in the Grifols financial reports.…
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