Monthly Archives: April 2018

Former Sydney mortgage brokers permanently banned for loan fraud

Reason: FraudulentContent of Penalty: ASIC has permanently banned mortgage brokers Xiaoyi (Jeff) Zhao, Jun (Leo) Ma and Liang (Victor) Zhang from engaging in credit activities. Messrs Zhao and Ma were mortgage brokers and directors of Sydney Global Investment Pty Ltd, which formerly operated a finance brokerage business in Sydney that traded as X Finance Group.  Mr Zhang was also a ...

Read More »

OSC charged two individuals with securities act offences

Reason: FraudulentContent of Penalty: The Ontario Securities Commission (OSC) announced today that Douglas DeBoer of Ancaster, Ontario and Leonard Lodder of Guelph, Ontario, have been charged with fraud and related offences under the Securities Act (Ontario) following a lengthy investigation by the OSC’s Joint Serious Offences Team (JSOT). DeBoer has been charged with the following offences under the Securities Act: ...

Read More »

FCA warns against Whitestone Finance Ltd clone firm

Reason: UnregulatedComment: This firm is not authorised or registered by the FCA but has been targeting people in the UK, claiming to be an authorised firm.Date: 27/04/2018Link: https://www.fca.org.uk/news/warnings/whitestone-finance-ltd-clone

Read More »

FCA warns against Atwood Stanley Asset Management

Reason: UnregulatedComment: Atwood Stanley Asset Management has been providing financial services or products in the UK without being authorized by the FCA.Date: 27/04/2018Link: https://www.fca.org.uk/news/warnings/atwood-stanley-asset-management

Read More »

Deutsche Bank Is Said to Lose $46 Million on Dominion Trade

(Bloomberg) — Deutsche Bank AG’s investment banking woes were exacerbated by a stock sale gone wrong in the U.S., according to a person with knowledge with the matter. Germany’s largest lender reported a 50 percent drop in equity origination revenue during the first quarter and said it was because of losses on a block trade. It took a roughly 38 ...

Read More »

FCA warns against Carna Capital

Reason: UnregulatedComment: This firm has been providing financial services or products in the UK without being authorised by the FCA.Date: 27/04/2018Link: https://www.fca.org.uk/news/warnings/carna-capital

Read More »

ASIC suspends AFS licence of Direct FX for compliance failures

Reason: Non CompliantContent of Penalty: ASIC has suspended the Australian financial services (AFS) licence of Direct FX Trading Pty Ltd (AFS licence 305539) (Direct FX) for a minimum of ten weeks and up to six months, depending on whether key criteria are satisfied.    Direct FX's AFS licence was suspended after ASIC found: Direct FX had failed to comply with ...

Read More »

FCA warns against M&M Debt Collection Services

Reason: UnregulatedComment: This firm has been providing financial services or products in the UK without being authorised by the FCA.Date: 26/04/2018Link: https://www.fca.org.uk/news/warnings/max-montgomerie-debt-recovery-investigations-also-trading-mm-debt-collection-services

Read More »

FCA warns against Money Financers

Reason: UnregulatedComment: This firm has been providing financial services or products in the UK without being authorised by the FCA.Date: 26/04/2018Link: https://www.fca.org.uk/news/warnings/money-financers

Read More »

Company formerly known as Yahoo to pay $35M over massive breach

Reason: Cybersecurity BreachContent of Penalty: e Securities and Exchange Commission today announced that the entity formerly known as Yahoo! Inc. has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the world’s largest data breaches in which hackers stole personal data relating to hundreds of millions of user accounts. ...

Read More »