Category: Regulations

Notice Comments FINRA is advising member firms that the Options Clearing Corporation has issued the March 2022 Options Disclosure Document (ODD). The ODD contains general disclosures on the characteristics and risks of trading standardized options. The March 2022 ODD: (i) contains supplemental material to accommodate trading of certain index options and index flex options with a […]

The Financial and Consumer Services Commission (FCNB) has become aware that BitzCex Investment or “BitzCex investetment”, which claims to provide online cryptocurrency, forex and other trading services, is accepting New Brunswick residents as clients. This entity is not registered in New Brunswick to provide such services. New Brunswickers are urged to exercise caution when investing […]

The Financial and Consumer Services Commission (FCNB) has become aware that Beneffx, which claims to provide online cryptocurrency, forex and other trading services, is accepting New Brunswick residents as clients. This entity is not registered in New Brunswick to provide such services. Beneffx appears to be operating from the Marshall Islands.  New Brunswickers are urged […]

Home News FCA warns businesses to stop misleading credit adverts to protect consumers The Financial Conduct Authority (FCA) is warning lenders and brokers to stop using misleading terms in their advertising or face regulatory action. The increased cost of living means that more people may take out loans. Marketing that does not give clear information […]

Washington, D.C. — The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered consent orders against the three co-founders of the BitMEX cryptocurrency derivatives trading platform: Arthur Hayes, Benjamin Delo, and Samuel Reed. The three co-founders are required to pay a total of $30 million civil […]

Speech by our Chief Executive, Nikhil Rathi, delivered at the Chartered Institute for Securities & Investment (CISI) 30th anniversary dinner. Speaker: Nikhil Rathi, Chief ExecutiveEvent: CISI 30th anniversary dinnerDelivered: 5 May 2022Note: this is the speech as drafted and may differ from the delivered version Highlights We are more resilient to the economic and geopolitical disruptions of today. Digital […]

North East Warrington Credit Union (NEWCU) Limited was placed into administration on 4 May 2022 and has now stopped trading. Mike Dillon and Andrew Poxon of Leonard Curtis Business Rescue and Recovery Limited have been appointed as joint administrators.  North East Warrington Credit Union is a financial co-operative owned by its members. It is regulated […]

Reuniting New Brunswickers with their unclaimed property is one step closer with the provincial government’s proclamation on January 1 of the Unclaimed Property Act. Under the Act, holders of unclaimed property – like businesses, associations and government organizations – are now required to review their books to search for monetary property that belongs to someone […]

Speech by Sheldon Mills, Executive Director, Consumers and Competition, delivered at the Building Societies Annual Conference.  Speaker: Sheldon Mills, Executive Director, Consumers and CompetitionEvent: Building Societies Annual Conference 2022Delivered: 5 May 2022Note: this is the speech as drafted and may differ from the delivered version Highlights Many consumers are feeling the impact of the cost of living crisis – the financial […]

With over £25 million lost so far, the FCA launches its latest ScamSmart campaign aimed at raising awareness of increasingly sophisticated investment scam tactics: A 59-year-old woman lost £48,000 as scammers used screen sharing software to take over her computer and access her banking history. Her case is one of 2,142 the FCA has seen […]