While several other major companies have opted to exit the UK to avoid legal hot water, Binance is willing to adhere to increasingly stringent compliance requirements to remain active in the market. The good news for customers is that most of its services comply with the new regulations. That means Margin Trading, Spot Trading, Binance…
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In one of the largest anti-money laundering operations, the Singapore police arrested and charged 10 foreigners. The authorities laid their hands on S$2.4bn in assets that ranged from luxury properties and cryptocurrencies to motor vehicles. Singapore is widely known for its tough stance on money laundering. This incident raised eyebrows, and many are wondering if…
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The regulator received a volley of attacks because it did not act soon or effectively enough to stem the tide of wrongdoings at the world-renowned Swiss bank. This includes connections with Lex Greensill, which led to an approximate $1.8bn loss. Many believe FINMA’s communication with big financial institutions was lacking and that it was negligent…
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As smaller businesses complained about being trampled in virtual space by the big names in tech, the DMA aims to level the playing ground to an extent. For instance, the Google and Apple operating systems are the top drivers in the mobile industry and charge a 30% fee for in-app purchases, which companies such as…
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A recent targeted review, which examined the DDO practices of sample financial issuers, found most retail clients lost money when trading CFDs. The ASIC deputy chair, Karen Chester, said: ASIC is disappointed that some high-risk retail product issuers have changed little in response to their design and distribution obligations (DDO). DDO requires companies to design…
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A Binance spokesperson confirmed the report to Reuters. Among others, the company also had to bid farewell to its Chief Strategy Officer, Patrick Hillmann, and General Counsel, Hon Ng, during this year. These resignations raise industry eyebrows as they follow scrutiny by authorities, including the U.S. Securities and Exchange Commission (SEC) and the Australian Securities…
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The new stipulations oblige private funds to submit quarterly fee and performance reports on top of annual audits. Additionally, funds must disclose specified fee structures and curb the preferential treatment of some investors, especially regarding portfolio disclosures and cash-out abilities. This industry administers around $20trn in assets. Gary Gensler, the SEC chair, stated these measures…
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LCF used to issue mini-bonds and invest the proceeds from these in different businesses. In its warning, the FSCS makes it clear these letters are not from the scheme although they appear on FSCS-headed paper. This organisation advised those targeted to ignore these scam letters and invited them to contact the FSCS directly. In a…
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During the conference, Nicole Lockwood, Independent Chair of Infrastructure Net Zero, noted: Infrastructure embodies, consumes and enables 70% of Australia’s carbon footprint. The tightened targets for 2030 and 2050, the huge pipeline of new projects and the need to adapt to increasing climate shocks have brewed the perfect storm. The time for decisive action is…
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These companies offer high-risk investment instruments, including contracts for differences (CFDs) of forex and other asset classes. Consob has the authority to block websites offering illegal financial services at an internet service provider level. The regulator stated: The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons,…
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