• CONSOB adopts prohibition of Binary Options and Contracts for Difference

    Consob introduced in Italy on a permanent basis – pursuant to Article 42 of the EU Regulation on financial instruments markets (MiFIR) and of art. 7-bis of the Consolidated Law on Finance – intervention measures to protect retail investors similar to those already adopted by the ESMA, the European Authority for Financial Instruments and Markets,...

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  • FCA on Delivering financial services digitally in its perimeter report

    The FCA (Financial Conduct Authority) recently published its first annual Perimeter Report, in which it comments on the limits of its responsibilities towards the UK citizens. The perimeter is basically the legal boundary determining what the FCA regulates (and therefore also what it does not regulate). In the report, the FCA says it might push...

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  • Over £27 million reported lost to crypto and forex investment scams

    The Financial Conduct Authority (FCA) and Action Fraud are warning the public to be wary of investment scams carried out via bogus online trading platforms. This warning comes as cryptoassests (crypto) and forex investment scams reports more than tripled last year to over 1,800. Fraudsters promise high returns from investments in crypto and forex, with...

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  • FX trader Argentex announces partnership with Professional Cricketers’ Association

    Argentex , a foreign currency exchange service provider has teamed up with Professional Cricketers Association. PCA is the representative body of past and present-day first-class cricketers in England and Wales. English cricket is going to have a busy schedule for this summer with ICC World Cup 2019 and Ashes Series coming up. The partnership will...

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  • FCA wins case against unauthorised forex firm

    Following an application by the FCA, the High Court, on 14 May 2019, declared that Xcore Capital Limited (Xcore) and Jonathan Chitty had carried on an unauthorised investment scheme. The scheme took in at least £1 million from investors but only a small amount of the investors’ money was ever used for trading. Consumers gave...

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  • ASIC bans former Kaz Capital adviser for six years

    The Australian Securities & Investments Commission (ASIC) has just announced the imposition of a six-year ban on David Stephen Cornford, a former adviser at Kaz Capital Pty Ltd. Mr. Cornford was employed as an adviser at Kaz Capital Pty Ltd between 2014 and 2017. The Australian regulator is concerned that Mr Cornford bought and sold...

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  • Hong Kong’s SFC fines and bans ex-CGIS director Wang Canfor 30 months

    The Securities and Futures Commission (SFC) has banned Mr Wang Can, a former licensed representative of China Galaxy International Securities (Hong Kong) Co., Limited (CGIS), for 30 months for misconduct. Wang was licensed under the Securities and Futures Ordinance to carry on dealing in securities and advising on corporate finance regulated activities and was accredited...

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  • AFS licensees may be breaking overseas laws

    ASIC has warned Australian financial services licensees that offer over-the-counter derivatives to retail investors located overseas could be breaking laws abroad, with Chinese authorities having alerted the watchdog that some online platforms have engaged in illegal activity. Many jurisdictions (such as Europe, Japan, North America and China) had restricted or prohibited the provision to retail...

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  • Premier League Football Clubs Signed Advertising Deal With eToro

    Global investment platform eToro has secured partnerships with seven different Premier League soccer clubs. These deals are especially unique because they were paid using the world’s leading cryptocurrency, bitcoin. The deal could be worth somewhere between £4 and £5 million. The seven Premier League clubs who have agreed to set up a digital wallet with...

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  • UK and Australia enter post-Brexit agreement

    The UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) today announced they have agreed two Memoranda of Understanding to ensure there is continuity once the UK leaves the European Union. The MoUs cover trade repositories and alternative investment funds (AIFs). These agreements will provide reassurance by ensuring arrangements are in...

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