BC Group CEO Hugh Madden commented about the benefits of being licenced and that regulated institutions could reduce their risk by being able to engage with other regulated entities. Final approval is subject to certain conditions, however no other details have yet been shared. Madden said that these were: as you’d expect from a conservative…
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FTSE 100 continues heading sideways The FTSE 100 and FTSE 250 once again struggled to find any momentum last week, sinking 1.5% and 0.9% respectively, as both indices continued to track sideways. UK economic data last week showed some improvement in a variety of areas, with positive retail sales growth, plus a marginal gain in…
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The expanded pilot program does not have set time yet but policy framework should be complete by the end of 2020. The development of the digital currency electronic payment (DCEP) in China began in 2014, much before other global monetary regulators. China's initial real-world trial of its CBDC was scheduled for Shenzhen in the end…
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Sit, Lam and Tam already appeared in court. No plea was taken and the court bail for each of them was set to $10,000. The SFC’s Executive Director of Enforcement, Thomas Atkinson, said: The SFC is committed to combating market misconduct and has zero tolerance of market manipulation in any shape or form. We will…
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The company is the first in Thailand to be approved for licenses in all four digital asset business categories. Upbit Thailand plans to offer new digital asset-related services once the final audit process by the Thai SEC is complete. With the new licenses for cryptocurrency and digital token subcategories, Upbit Thailand expands its offer with…
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The multi asset broker was established back in 2014 and since then it has seen rapid growth and consistently doubled in size YoY over the past three years as well as expanded and tailored its product offering in dozens of new markets. Walker continued: We have a really great team here in Auckland and are…
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The Trump Administration issued two executive orders last week giving US companies 45 days’ notice to stop dealing with TikTok and WeChat, a Chinese messaging platform owned by Tencent. Trump alleges that the Chinese government has access to user data collected through the TikTok app. Trump said: It can’t be controlled, for security reasons, by…
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Many foreign banks reportedly started to preemptively refuse accounts of senior Hong Kong officials as early as the end of July. Local politician Bernard Chan, part of the cabinet that Hong Kong’s chief executive Carrie Lam said US banked closed his accounts. Closing of accounts is the first step of banks’ compliance with the US…
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The ASIC also announced cancelling the Australian financial services (AFS) licence of Global Merces Funds Management Limited. The reason for the cancellation is that Global Merces is in liquidation. The license of the company was previously suspended after the company got external administrator appointed in January. Read More: Former CFS Private Wealth financial adviser sentenced…
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The New Zealand watchdog found that representatives of TFR Global offer private investment in Merlin Biotechnologies to New Zealand residents. TFR Global and Merlin Biotechnologies are not incorporated companies or registered financial service providers in New Zealand and they are therefore not permitted to provide financial services/products in the country. TFR Global claim they are regulated by Investment…
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