ASIC Disqualifies QLD Executive For Five Years LeapRate

May 21, 2024 BY Elizabeth Anderson

ASIC Disqualifies QLD Executive For Five Years

The regulator keeps a register of “banned and disqualified” individuals to inform and warn companies and employees. Individuals on this record have been either disqualified from managing a company, auditing self-managed superannuation funds, or fulfilling a financial role in an organisation. Pereira reportedly managed four companies that were liquidated. ASIC listed these as East Coast…

May 20, 2024 BY Elizabeth Anderson

Dow Jones Crosses The 40K Threshold For The First Time

The prime index hovered above the 40,000 brink at a stage on Thursday, 16 May 2024, but ended that day lower. Hopes of rate cuts fuelled bullish investor actions and enabled the Dow Jones’s gallop towards this all-time high. According to CNN, the latest report from the US Bureau of Labour Statistics indicated a decrease…

May 16, 2024 BY Elizabeth Anderson

FCA Charges Three Individuals With CFD Fraud

These three individuals face several charges, including fraud through deceptive representations and trading, as they convinced people to invest their pension savings in CFDs. In its press statement, the FCA explained that CFDs are “a high-risk investment product used to bet on the price of an asset”. Victims of this alleged fraud reportedly said that…

May 08, 2024 BY Elizabeth Anderson

Cognac Shares Rally After Talks to Ease Chinese Trade Strains

Based on CNBC data, the share prices of Pernod Ricard (RI.PA) and Remy Cointreau (RCO.PA) jumped by 2.7% and 7.6% respectively at the midday mark in London. Chinese President Xi Jinping is currently in talks with European leaders to discuss the continued trade conflict. He met with Macron on Monday, 6 May 2024, and received…

May 07, 2024 BY Robert Bell

Robinhood Reveals Crypto Warning From SEC

Robinhood pointed out that the SEC warning notice was received on 4 May and is what’s known as a Wells notice. It’s based on the fact that SEC staff have recommended that action be taken due to the company’s alleged violation of registrations, which was done after the agency made a preliminary determination. Don’t miss…

May 02, 2024 BY Elizabeth Anderson

ASIC Issues Warning About New Scam Targeting Bonds And Term Deposits

These fraudsters reportedly zoom in on providers with no digital footprint. According to ASIC, they clone the disclosures, addresses, International Securities Identification Numbers (ISINs) and other official registration information of a targeted financial company. ASIC further indicated that the scams involve mirrored investment maturity dates, coupons and credit ratings. Apart from lesser-known organisations, these confidence…

May 01, 2024 BY Elizabeth Anderson

Legal Clash Between SEC And Ripple Impacts XRP Performance

The virtual token regained some ground on Monday, 29 April 2024, after a loss of 1.51% on the previous day. Ripple filed a motion to strike the testimony of SEC accountant Andrea Fox. The regulator opposed this motion and categorised Fox as a summary witness. The objection read: Ripple incorrectly claims this declaration constitutes undisclosed…

April 24, 2024 BY Elizabeth Anderson

Indian Regulator Looks at Adani Stock Manipulation

According to a Bloomberg report, SEBI acted against a pair of foreign portfolio investment firms. The first allegedly engaged in shorting shares of Gautam Adani’s companies after it became aware of the publication of a short-seller report from Hindenburg Research, based in the US. When this report came to light in January 2023, it decreased…

April 22, 2024 BY Elizabeth Anderson

CySEC Slaps CIF MCA Intelifunds With €360,000 Fine

According to a press release on Friday, 19 April 2024, the financial watchdog’s board claims that CIF transgressed numerous regulations in the Investment Services and Activities and Regulated Markets Law of 2017. The decision follows an investigation conducted in September 2022. A breakdown of this fine includes €80,000 for not having adequate policies and procedures…

April 17, 2024 BY Elizabeth Anderson

René Benko Under Investigation For Fraud

According to an Austrian Broadcasting Corporation (ORF) radio report, Benko allegedly deceived a local bank about the financial standing of Signa in renewing a €25m loan. Reuters reported that the property tycoon’s lawyer, Norbert Wess, confirmed this investigation and said that Benko was notified “some time ago”, but maintains that the accusations are “unfounded”. The…

Category: Financial Services