Category: Regulations

Speech by Sheldon Mills, Executive Director, Consumers and Competition, delivered at the British Insurance Brokers’ Association (BIBA) Conference. Speaker: Sheldon Mills, Executive Director, Consumers and CompetitionEvent: The British Insurance Brokers’ Association (BIBA) Conference 2022Delivered: 11 May 2022Note: this is the speech as drafted and may differ from the delivered version Highlights Brokers play a vital role in helping consumers and businesses access […]

The Financial Conduct Authority (FCA) has refused to authorise Alexander Jon Compliance Consulting Limited (AJCC) to provide regulatory hosting services.  This is a service which would have allowed AJCC to take responsibility for firms carrying out regulated activities without being directly FCA approved, known as Appointed Representatives (ARs). AJCC could not demonstrate that it had […]

Vancouver and Toronto – The Canadian Securities Administrators (CSA) today announced the proposed board members of the new self-regulatory organization (SRO) and investor protection fund (IPF), and the publication for comment of several documents necessary to launch the new SRO and IPF.  “Today’s announcement of the new boards and publication of draft documents marks a major […]

Regulated Industries FCNB is responsible for the regulation and enforcement of securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, mortgage brokers, pay day lenders, real estate and a wider range of other consumer legislation. We regulate 36,000 industry participants who make their living working with New Brunswickers’ money. These industry participants handle more […]

On 27 April 2022, BaFin imposed an administrative fine amounting to 115,000 euros on Drägerwerk AG & Co. KGaA. The sanction related to a breach of the first subparagraph of Article 17 (1) of the Market Abuse Regulation (MAR). Drägerwerk AG & Co. KGaA failed to publish inside information without undue delay. The company may […]

This press release is not available in English. Please consult the French or Dutch version. Source: FSMA

We have seen some recent social media posts regarding cryptoassets and non-fungible tokens (NFTs). We cannot comment on individual products. However, as we have said previously, the FCA has not been given regulatory oversight over direct investments in cryptoassets and NFTs. There are no consumer protections for those who buy any cryptoassets and NFTs, and […]

Washington, D.C. — The Commodity Futures Trading Commission today announced that it has filed a civil enforcement action in the U.S. District Court for the Eastern District of California against Eshaq M. Nawabi of either Salida or Manteca, California and his companies Nawabi Enterprise and Hyperion Consulting Inc. The complaint charges the defendants with fraud […]

On March 17th, 2022, the Canadian Anti-Fraud Centre and Winnipeg Police Service (WPS) were able to recover a $17 000 fraudulent Bitcoin transfer associated to a crypto investment scam. This recovery is an example of how important it is to report to both CAFC and local police. Investment scams were the highest reported scams based […]

The FCA has prohibited five directors of financial advice firms from working in financial services and fined them over £1 million, after they caused significant losses to pension customers. The decisions follow an extensive 300-page judgement issued by the Upper Tribunal in which the five directors unsuccessfully challenged the FCA’s decisions. The Tribunal found Andrew […]