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The UK's Financial Conduct Authority (FCA) has fined Barclays Bank Plc GBP 783,800 for breaches of supervision in its relationship with the collapsed payment firm Premier FX. The FCA publicly accused Premier FX in February 2021 of failing to protect its customers' money and seriously misleading its customers about the services it was authorized to provide. Barclays...
Italy’s Companies and Exchange Commission (CONSOB) has announced that it has continued to block access from Italian territory to 6 more unauthorized financial websites. They include: corsairnow.com of Corsair Development Company Limited, hastrade.pro of Xertz Consulting LTD, eurotrades.com of Eurotrades, eurotrade.uk.com of Eurotrade, fincloud.capital of Surreptitious Group LLC, and market-gold.com of Market Gold. CONSOB...
The Cyprus Securities and Exchange Commission (CySEC) has announced that it has imposed an administrative fine of UR 3,000 on Atlantic Securities Ltd. According to CySEC, Atlantic Securities Ltd has not established and maintained effective systems and procedures for detecting suspicious orders and transactions.
The United States Financial Industry Regulatory Authority (FINRA) has announced that it has imposed a USD 9 million fine on Credit Suisse Securities for non-compliance with securities laws and regulations designed to protect investors, including FINRA rules requiring companies to disclose potential conflicts of interest when issuing research reports. As part of the agreement,...
Italy’s Companies and Exchange Commission (CONSOB) has announced that it has continued to block access from Italian territory to 5 more unauthorized financial websites. They include: cryptopro24.com of Crypto Solution Ltd, finexoinv.io of Strat Ltd, investagrico.com of Agrico Holdings Limited, investarea.com of Invest Area Ltd and wirexinvest24.com of Wirexinvest Invest Limited. CONSOB has the...
The Cyprus Securities and Exchange Commission (CySEC) has issued a warning about 12 unauthorized investment intermediaries. These websites are not authorized and do not belong to a company licensed to provide investment services, as provided for in Article 5 of Law 87 (I)/2017. These are in the order in which CySEC listed them: en-rev.com, wrxst-global.com, primexbtoptions.com, charlgate.net,...
Crypto.com has become another company whose crypto advertising in the UK has been restricted. Last year, similar actions were taken against Coinbase, Kraken and others. The United Kingdom’s Advertising Standards Authority (ASA) has approved an official ban on two mobile ads from the popular trading platform Crypto.com, which promote easy buying of cryptocurrencies, such as Bitcoin, as...
The Cyprus Securities and Exchange Commission (CySEC) has announced that the license of AFX Capital Markets Ltd has been revoked. The regulator's decision comes after investigating the forex broker's compliance with The Investment Services and Activities and Regulated Markets Law. According to CySEC, the company no longer meets the conditions under which the authorization was granted.
Italy’s Companies and Exchange Commission (CONSOB) has announced that it has continued to block access from Italian territory to 25 more unauthorized financial websites. This action is following a signal from the Financial Police. They include: absystem.world of Absystem, amarkets.com of AMarkets Ltd, binarium.com, binarium.global, binarium.trading of Binarium Limited, bitcoinera.app, bitcoinera.com of Bitcoin ERA, bitcoin-evolutionpro.com of Bitcoin-evolutionpro,...
The big technology companies are joining forces to counter financial fraud and fraudulent advertising. Members of the Online Fraud Management Group (OFSG) Meta, Microsoft and Twitter will introduce a revised ad submission process that requires financial services providers in the UK to be authorized by the Financial Conduct Authority (FCA) before serving ads for financial services on...