The UK Financial Conduct Authority (FCA) has put out details of the cloned firm General Asset Management. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics…
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The Financial Markets Authority (FMA) has just issued a warning against a company called Prosperous International Limited, operating at website www.forexnz.co.nz. Prosperous International Limited is not registered on the Financial Service Providers Register to provide financial services in New Zealand. Their customers will not have access to a Dispute Resolution Scheme. Therefore the regulator has…
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Cyprus financial regulator CySEC has suspended the CIF license of Limassol-based FX broker IGM Forex. CySEC stated that its decision to suspend IGM Forex was based on suspected violations of rules regarding the company's own funds, and the company's capital adequacy ratio. The full text of the CySEC notice follows: 20 July 2018 CYSEC Decision…
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The Canadian Securities Administrators (CSA) has published Staff Notice 51-355 Continuous Disclosure Review Program Activities for the fiscal years ended March 31, 2018 and March 31, 2017, a biennial report that summarizes CSA staff’s ongoing review of reporting issuers’ (issuers) continuous disclosure and highlights common deficiencies and best practices. Among other issues, we continue to…
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The Commodity Futures Trading Commission (CFTC) has unanimously approved an order that allows registered derivatives clearing organizations (DCOs) to invest customer euro cash in French and German sovereign debt. Allowing DCOs to invest customer euro cash in high-quality European sovereign debt poses less risk than the current practice of holding customer euro cash at commercial…
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Moscow Exchange (MOEX:MOEX) announced that it it has signed a statement of commitment to the FX Global Code, pledging to support robust, fair, liquid, open and transparent foreign exchange markets. Moscow Exchange first announced its intention to join the Global Code in January 2018. The FX Global Code (Global Code) is a set of global…
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The U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge David Nuffer of the U.S. District Court for the District of Utah entered an Order for Final Judgment by Default against Tallinex Ltd., an Estonian company that was licensed to do business in St. Vincent and the Grenadines. The Default Order requires Tallinex to pay…
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The Nova Scotia Securities Commission (NSSC) announced that it has issued a cease trade order against Ocean Links Investments Inc. The company, a Nova Scotia community economic development corporation, violated securities laws by failing to file continuous disclosure documents. The director of corporate finance ordered Ocean Links Investments Inc. to comply with Nova Scotia securities…
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The Financial Markets Authority (FMA) has just issued a warning against a company called MBI International and/or MFC Club. Reason for warning: The FMA informed that it is concerned that a Malaysian based loyalty scheme, MBI International also trading as MFC Club (MFC Club) is being promoted in New Zealand. The regulator has received reports…
Read moreThe Securities and Exchange Commission (SEC) announced that it has charged a Connecticut-based investment advisory firm and its chief executive officer with putting $19 million of investor money, including elderly investors’ retirement savings and pension plans, in risky investments and secretly pocketing hefty commissions from those investments. The SEC’s complaint alleges that Temenos Advisory Inc.…
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