CySEC further explained that as part of the settlement, the regulator assessed the Board’s compliance for the period July 2018 – March 2020, regarding governance arrangements. CySEC said in the announcement: CySEC, under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, has the power to reach a settlement for any violation…
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Marie’s ban is connected to five defective Product Disclosure Statements (PDSs) for the SIT, under which a total of $16,710,669 was raised from retail investors from 20 May 2016 to 1 May 2018. ASIC had previously commenced civil penalty proceedings against Theta issuing the defective PDSs. ASIC found that Marie failed to comply with his…
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Investors with the above-mentioned website have alerted ASIC that are unable to withdraw their investments form it. ASIC has discovered that the operators of limestonefx.com do not hold AFS licence or authorisation to provide financial services in Australia. The website falsely claims to be affiliated with an AFS licensee. The regulator has also found out…
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Robinhood spokeswoman Jacqueline Ortiz Ramsay said: We look forward to engaging with the SEC as they consider potential rules in these areas. As a number of SEC regulations were approved over 10 years ago, predating the huge influence of social media, the impending change will come as a huge task for the regulators. It must…
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The regulator also reported that the company has paid the settlement amount. CySEC said in the announcement: CySEC, under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, has the power to reach a settlement for any violation or possible violation, act or omission for which there is reasonable ground to believe…
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The Commission has now revealed that it received 96 applications from UK companies overall. Seven of these applications were rejected because they did not adhere to the eligibility criteria set out for the TPR. In contrast, one application was simply withdrawn from the process. Those 88 UK firms that have been granted TPR access to…
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Kim’s arrest and conviction in Korea fundamentally damages his reputation and reliability. This put serious doubt over IDS Forex’s fitness and properness to be licensed. The SFC expressed concerns about the company due to the correlation and timing of the fraudulent scheme Kim was involved in and his capital injections into the company. Furthermore, the…
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The circular said: On a number of occasions, it was observed that the AML/CFT risk assessments were not reviewed to evaluate whether they needed adjustment upon subsequent changes of the customers’ risk profiles. As a result, the assessment of the customers’ ML/TF risks was not up to date and therefore CDD and ongoing monitoring was…
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With clients across over 26 countries, Qinox Tech pays attention to the continent, as a considerable amount of their clients are expanding in Africa. The company attributes this to the rapidly growing population and great strategic capacity of the African continent. Qinox Tech noted that there is still a large supply deficit to meet the…
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The Financial Industry Regulatory Authority has been known to fine brokerages in the past for failing to report such transactions, including Deutsche Bank’s U.S. securities branch and Merrill Lynch. Regulatory filings eventually revealed that retail investors with Robinhood held a total of $802.5 million in fractional shares. These filings were divulged at the end of…
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