Category: Financial Services

February 28, 2020 BY Steffy Bogdanova

Philippine crypto regulator accused of corruption

Raul Lambino, administrator of Cagayan Economic Zone Authority (CEZA), licensing regulator for cryptocurrency exchanges in the Philippines, was accused of corruption and misappropriation of millions. Allegedly Lambino’s wealth has inexplicably grown with tens of millions of dollars. A leaked report from the Philippine National Intelligence Coordinating Agency (NICA) says: It is now the general belief…

Read more
SEC
February 28, 2020 BY Steffy Bogdanova

SEC fines Wells Fargo with $35 million over investment recommendation practices

The Securities and Exchange Commission (SEC) announced on Thursday settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for improperly recommending risky investments to some of its clients, including senior citizens and retirees. SEC ordered Wells Fargo to pay $35 million penalty. SEC accused Wells Fargo for failing to supervise investment…

Read more
February 28, 2020 BY Steffy Bogdanova

Actor Steven Seagal charged with unlawful promotion of ICO

The Securities and Exchange Commission (SEC) announced yesterday that it settled charges against actor Steven Seagal for not disclosing payments he received for promoting investments in an initial coin offering (ICO) by Bitcoiin2Gen (B2G). SEC found that the 69-year-old actor failed to disclose the amount $250,000 in cash and $750,000 worth of B2G tokens he…

Read more
asic afs license
February 28, 2020 BY Steffy Bogdanova

ASIC cancels RVM Capital’s AFS licence

  ASIC has cancelled the Australian financial services (AFS) licence of RVM Capital for not submitting its annual financial statements for three years in a row. RVM Capital held AFS licence number 457140 and it was cancelled from 21 January 2020. These measures are part of ASIC’s intention to raise and improve the requirements for…

Read more
ASIC office
February 28, 2020 BY Steffy Bogdanova

AGM Markets, OT Markets and Ozifin Tech engaged in unconscionable conduct

The Federal Court has found that the over-the-counter (OTC) derivative providers AGM Markets Pty Ltd, OT Markets Pty Ltd and Ozifin Tech Pty Ltd were engaged in systemic unconscionable conduct. It was reported that Australian investors lost over $30 million. Account managers located offshore were used to engage retail investors in Australia. They provided unlicensed…

Read more
fca warning
February 27, 2020 BY Steffy Bogdanova

FCA updates its warning list with more companies

UK watchdog FCA has put out the details of several unregulated companies and clone firms this week. The names of the latest additions to the regulator’s warning list are the companies Advance Trading Systems, 4Rex Prime Ltd ta Standard Bit Option, London loan Lender, Currie Consultancy Group, Online Currency Corp ltd and Vendome Asset Management. According to the regulator, the…

Read more
AFM imposes an order for incremental penalty payments on Miscanthus Green Power B.V.
February 26, 2020 BY Steffy Bogdanova

AFM fines Esperite for late publication of annual figures

Dutch Authority for the Financial Markets (AFM) imposed an administrative fine on biotech company Esperite N.V in the amount of €312,500, on 14 February 2020. Esperite failed to make its finances of 2017 and 2018 publicly available on time. Esperite’s deadline for its annual revenue of 2017 was on 30 April 2018 but the report…

Read more
gold
February 25, 2020 BY Valentina Kirilova

Xetra-Gold exceeds the 10b Euro mark in assets under custody

Deutsche Börse has just released fresh news from its commodities sector. The assets under custody of Xetra-Gold exceeded the 10 billion Euro mark for the first time. The physical holdings of the Gold ETC are deposited in the central vault for German securities in Frankfurt and are currently 209.98 tonnes, up 6.39 tonnes since the…

Read more
cysec cif licence suspension
February 25, 2020 BY Valentina Kirilova

CySEC permanently deletes OMEGASERVE SECRETARIAL LTD from the register

The Cyprus regulator CySEC has earlier this week announced the company OMEGASERVE SECRETARIAL LTD waived its authorisation with Νumber 109/196. The company's authorisation lapsed as from January 2, 2020 and CySEC has permanently deleted OMEGASERVE SECRETARIAL LTD from the Register. OMEGASERVE remains under the supervision of CySEC until its compliance with any of its outstanding…

Read more