However, the regulator clarified that it is not sufficient for derivatives issuers to prove they can meet the provisions of their license, they should maintain the NTA requirements. Greig added: Western Union’s contraventions left open the possibility of client harm and loss, and its continued entry into transactions that gave rise to further liabilities increased…
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Most of the platforms illegally providing financial services offer derivatives trading with forex and cryptocurrencies. Among the assets classes offered by the entities are also binary options, which are heavily scrutinized in the US. The US regulator stated: A firm is added to the RED List when the CFTC determines, from investigative leads and public…
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The Aussie watchdog discovered that Sirius Financial has breached its licence obligations failing to adequately address Toyga’s conduct. Furthermore, ASIC found that Pecyna and Schneider were involved in Sirius Financial’s breaches. Moreover, ASIC deemed them not “adequately trained or competent”. ASIC stated that the two former directors lacked professionalism and integrity for their management roles.…
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The Cypriot watchdog stated: CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities. Earlier in June, CySEC added six companies to its warning list.
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The Cypriot watchdog stated: CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities. Earlier in May, CySEC added four companies to its warning list.
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Lars Holst, Founder and CEO, GCEX said: It is a priority for GCEX to have multi-jurisdictional regulatory coverage as this gives clients the choice of trading with the regulated entity which best suits their requirements. As Brexit has completely changed the landscape for UK regulated brokerages in terms of passporting, we believe it is very…
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In March 2019, Hioch Capital faced allegations of possible regulatory violations and settled with CySEC for €200,000. In June 2020, FCA banned the Cypriot firm for using unauthorised celebrity endorsements on social media as part of their marketing. CySEC stated in the official announcement: The loss of ICF membership status does not mean loss of…
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That was until last February when Maxigrid’s license was withdrawn by CySEC. According to the regulator, the broker violated multiple mandatory compliance rules that led to the cancellation of its license. In the latest announcement, the Cypriot watchdog noted that the broker “unable to meet its obligations arising out of investors' claims and has no…
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The Cypriot watchdog stated: CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities. In April, CySEC fined Capital.com operator €10,000 for late submission of suspicious trading.
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The regulator alleged that the bank has not adequately fixed the problem and that customers continue to be affected. Between May 2016 and September 2021 ANZ also made false and misleading representations regarding withdrawal fees. According to the regulator, the bank continued with the misleading representation even after that period. Court added: This alleged misconduct…
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