Clare Cole, the Director of Market Oversight at the Financial Conduct Authority, said: The London market is trusted the world over by companies looking to raise capital and those wishing to invest in them. That trust is created by strong standards and a world-leading concentration of buyers, sellers and the advisers who support them. The…
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Additionally, the study found that a quarter of adults that hold investments, prefer to invest in an “investment opportunity” with a limited time frame, which poses a risk of a scam. 22% of the participants in the research say they have not checked or they do not know if their investment is FSCS-protected. This is…
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A need for cyber security measures The matter of cyber security measures as part of the obligations of AFS licensees arouse from a ruling of the Australian federal court against a RI Advice Group Pty Ltd. The company was found in breach of its AFS license obligations because of a lack of adequate risk management…
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ASIC Commissioner Cathie Armour said: We have seen a substantial reduction in harm to retail clients resulting from CFDs as a result of ASIC’s product intervention. Commissioner Armour added: Our extension of the product intervention order for five years will ensure that the leverage ratio limits and other protections can continue to reduce the size…
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ASIC said: ASIC is aware of scammers impersonating legitimate companies and then use convincing reasons for the victim to give them remote access (i.e. the ability to log into the victim’s computer or phone from their location). If someone asks you for remote access it is probably a scam. The Australian regulator has also observed…
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CySEC stated: The loss of ICF membership status does not mean loss of rights of covered clients to receive compensation in relation to investment operations carried out until the loss of membership status if the conditions for compensation are fulfilled pursuant to the Directive, nor does it obstruct the initiation of the compensation procedure for…
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The information sheet ASIC published highlights the activities where influencers can breach the legal requirements if they are unaware including financial product advice, dealing by arranging and misleading or deceptive conduct. The regulator has also explained issues influencers may consider such as whether an AFS licence is needed, getting familiar with relevant regulatory guidance and…
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CySEC said: CySEC reached to the above decision due to the Company’s non-compliance with article 22(1) of the Law, in fulfilling the condition of article 17(9) of the Law at all times, as this is further specified in paragraphs 4(1) and 6(1) of the Directive DI187-01 for the Safeguarding of Client Assets, Product Governance Obligations…
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Swiss Financial Market Supervisory Authority (FINMA) told Reuters that they are aware of the articles and compliance with anti-money laundering regulations has been the focus of the regulator for years. Credit Suisse has denied wrongdoing. The bank stated: Credit Suisse strongly rejects the allegations and insinuations about the bank’s purported business practices. The matters presented…
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All Cypriot financial services companies that meet the new criteria of Significant CIFs need to remuneration committee and a risk committee. These committees should be composed of members of the board of directors who do not perform any executive function in the CIF concerned. The companies are also required to submit their new organisational structure…
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