ASIC expands network of fintech cooperation agreements to Switzerland LeapRate

October 27, 2017 BY Valentina Kirilova

ASIC expands network of fintech cooperation agreements to Switzerland

On 18 October 2017, the Australian Securities and Investments Commission (ASIC) and the Swiss Financial Markets Authority (FINMA) entered a new agreement to cooperate on innovation in the financial sector. The agreement aims to encourage innovation in financial services in Switzerland and Australia, and to support financial services innovators in meeting legal requirements when operating…

May 31, 2017 BY Valentina Kirilova

FINMA issues warning against City Bank

Switzerland’s Financial Market Supervisory Authority (FINMA) keeps updating its Warning List, with the latest addition being City Bank. The company claims to have an address in Switzerland: Square de l'académie, 1205 Genf and is operating at www.citybank-us.com. The inclusion of City Bank in FINMA’s Warning List means that it might be operating without a licence although…

December 02, 2016 BY Valentina Kirilova

SFC and FINMA sign agreement on Switzerland-Hong Kong Mutual Recognition of Funds

The Securities and Futures Commission (SFC) and the Swiss Financial Market Supervisory Authority (FINMA) have signed a Memorandum of Understanding on Switzerland-Hong Kong Mutual Recognition of Funds and Asset Managers (MoU), which will allow eligible Swiss and Hong Kong public funds to be distributed in each other’s market through a streamlined vetting process. The MoU…

October 31, 2016 BY Valentina Kirilova

MFSA warns on Tradingbanks false regulation claim

The Malta Financial Services Authority (MFSA) has become aware of the website https://www.tradingbanks.com/ which is falsely stating that tradingbanks is licensed by the MFSA. The MFSA alerts the public, in Malta and abroad, to refrain from undertaking any business or transactions with the above-mentioned entity. Many other regulators have already warned on tradingbanks, including South Africa’s…

October 27, 2016 BY LeapRate Staff

Switzerland regulator FINMA warns against Binary Options broker Swiss Royal Banc

Switzerland's financial regulator FINMA has added a Binary Options broker named Swiss Royal Banc operating at swissroyalbanc.com to its warning list, of companies which are suspected of conducting unauthorised activities in the financial market. We assume that FINMA added Swiss Royal Banc mainly because of their name, which was obviously chosen to give unsuspecting retail traders the…

October 20, 2016 BY Valentina Kirilova

Central Option gets yet another warning, this time from Swiss regulator FINMA

After already getting several warnings from different regulators, such as the British Columbia Securities Commission (BCSC) and Hong Kong’s financial regulator the Securities and Futures Commission (SFC), binary options broker Central Option got another warning, this time from the Swiss regulator FINMA. Although this latest warning's got a long way to go to reach the…

April 07, 2016 BY Maria Nikolova

Swiss FINMA conducts 794 investigations, imposes 14 industry bans in 2015

The Swiss Financial Market Supervisory Authority (FINMA) has just published its Enforcement Report for 2015, with the data showing that the regulator focused on unauthorized financial services providers last year. Of all the 794 investigations started by FINMA in 2015, more than 500, or the majority, targeted unlicensed financial service providers. This marks an increase…

March 17, 2016 BY Maria Nikolova

FINMA facilitates online identification for fin intermediaries' clients, backs addition of new licenses

The Swiss Financial Market Supervisory Authority (FINMA) today highlighted its efforts to go hand in hand with financial innovation by making two announcements: one concerns the new rules for onboarding clients by financial intermediaries; the other concerns the licensing of financial innovation companies. Digital client identification now possible A growing number of financial intermediaries interact…

February 19, 2016 BY Maria Nikolova

Switzerland’s regulator adds Golden Bridge FX to Warning List

Just a couple of days after Switzerland’s Financial Market Supervisory Authority (FINMA) alerted investors about FX firm Lion Fund, the regulator adds one more Forex broker to its Warning List. The latest addition to the list is Golden Bridge FX, operating via https://gb-fx.com. The broker targets English-speaking and Arabic-speaking clients, offering them various Forex trading…

January 29, 2016 BY Maria Nikolova

Binary options firm Bloombex gets another warning – this time from Switzerland's FINMA

Switzerland’s Financial Market Supervisory Authority (FINMA) has updated its Warning List of companies, with the latest addition being Bloombex Online. Bloombex, operating via www.bloombexonline.com and www.bloombex-options.com, offers investors a variety of binary options services. The company says on its website that it has an address in Switzerland: Dreikönigsstrasse 31A, 8002 Zürich. The inclusion of Bloombex…

Tag: FINMA