Monthly Archives: May 2018

FMA Austria warns investors against Crown-Finance

Reason: UnregulatedComment: The Austrian Financial Market Authority (FMA) warns against Crown-Finance that is not entitled to carry out certain banking transactions, provided that said person has given cause for such action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the person concerned.Date: 31/05/2018Link: https://www.fma.gv.at/en/crown-finance/

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FCA warns against ISGXchange

Reason: Fraudulent, UnregulatedComment: ISGXchange has been providing financial services or products in the UK without being authorised by the FCA.Date: 31/05/2018Link: https://www.fca.org.uk/news/warnings/isgxchange

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FCA warns against Escrow Global (Clone) (clone of FCA authorised firm)

Reason: Fraudulent, UnregulatedComment: Escrow Global is not authorised or registered by the FCA but has been targeting people in the UK, claiming to be an authorised firm.Date: 31/05/2018Link: https://www.fca.org.uk/news/warnings/escrow-global-clone-clone-fca-authorised-firm

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CFTC Orders X-Change Financial Access LLC to Pay a Civil Monetary Penalty for Supervisory and Recordkeeping Failures

Reason: Non CompliantContent of Penalty:  The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against X-Change Financial Access LLC (XFA) of Chicago, Illinois, for failure to diligently supervise its employees’ handling of its customer accounts and failure to preserve complete records.  At the time of the conduct charged, XFA was registered with the CFTC as a Futures ...

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SFC reprimands and fines Noah Holdings (Hong Kong) Limited

Reason: MisconductContent of Penalty: The Securities and Futures Commission (SFC) has publicly reprimanded and fined Noah Holdings (Hong Kong) Limited (Noah HK) HK$5 million over Noah HK’s internal system and control failures in its sale and distribution of investment products.   In particular, Noah HK had failed to comply with various regulatory requirements on know-your-client, product due diligence, suitability assessment, information ...

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CNMV warns against Investmib Ltd

Reason: UnregulatedComment: INVESTMIB Limited https://www.investmib.com/es is not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, which include investment advice, or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the ...

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IFSC warns against Thomas Smith

Reason: FraudulentComment: Thomas Smith is not licensed under the IFSC Act to provide, carry on, transact, or hold himself out as providing, carrying on, or transacting any of the international financial services as set out in the Schedule of the IFSC ACT in or from within Belize.Date: 29/05/2018Link: https://www.ifsc.gov.bz/warning-notice-thomas-smith/

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IFSC warns against Binary/Forex Trade

Reason: UnregulatedComment: Binary/Forex Trade is not licensed under the IFSC Act to provide, carry on, transact, or hold himself out as providing, carrying on, or transacting any of the international financial services as set out in the Schedule of the IFSC ACT in or from within Belize.Date: 29/05/2018Link: https://www.ifsc.gov.bz/warning-notice-binary-forex-trade/

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FMA New Zealand warns against Coin City Limited

Reason: FraudulentComment: Before dealing with website www.coincity.co.nz as it has the characteristics of a scam. The website www.coincity.co.nz is not associated with, nor an authorised representative of the New Zealand registered company Coin City Limited. The website www.coincity.co.nz is not registered to offer financial services in New Zealand. Date: 29/05/2018Link: https://fma.govt.nz/news-and-resources/warnings-and-alerts/coin-city-limited/

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FCA warns against Forex Grand

Reason: UnregulatedComment: Forex Grand has been providing financial services or products in the UK without being authorized by the FCA.Date: 25/05/2018Link: https://www.fca.org.uk/news/warnings/forex-grand

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