In early August 2019, North Korea made news when Leaprate reported that the country has reportedly hacked and stole around $2 billion worth of crypto and fiat money. The hack was done through numerous cyber attacks on different financial institutions and crypto exchanges. The ultimate goal? - to fund a military weapons program. The news…
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The Financial Markets Authority (FMA) has recently added two more names to its list of unregulated firms. The latest additions are the company Yifu International Futures Co Ltd and the website www.rncapitalalliance.com. According to the regulator, Yifu International Futures is not registered on the New Zealand Financial Service Providers (FSPR) register nor is it associated…
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Sydney based forex trading and education service provider ACY Securities announced that it will support The Inter-university Table Tennis Association (ITTA) as a major sponsor for their upcoming 2019 flagship event. ITTA is a not-for-profit student run organisation with the aim of promoting the sport of table tennis across Australia and beyond. Justin Pooni, Head…
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The Australian Securities Exchange (ASX) announced today that it has teamed up with distributed ledger technology (DLT) specialist Digital Asset (DA) and VMware. The exchange has signed a three-party memorandum of understanding (MoU) to work together with the other two companies on DLT initiatives in Australia and New Zealand. This will include the development of…
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The Financial Markets Authority (FMA) has recently added two more names to its list of unregulated firms. The latest additions are the companies Profitix and Enigma GRC Limited and Dang Kang International Group. Profltlx and Enigma GRC Limited as both entities are not listed on the FSPR and are not incorporated in New Zealand. Dang…
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Australian regulator ASIC have once again expressed their concern regarding consumers who trade binary options. According to the regulator, consumers continue to suffer significant harm from trading these products, despite the regulatory measures taken so far. The main notable points in ASIC's latest consultation paper are: Leverage restrictions of maximum 1:20 Imposed margin closeout level…
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SGX-listed global financial technology group, ayondo, announced that it has entered into a non-binding strategic alliance terms with social investing company iMaibo. iMaibo is a Chinese company, offering a cost-efficient social investing platform for Asian, European and other global CFDs to facilitate investment-related business, via its network of social media influencers and key opinion leaders…
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The Hong Kong Securities and Futures Commission (SFC) announced today that it has banned Mr Samuel Lee Kwok Tung from re-entering the industry for eight months ending 16 April 2020. Tung is a former account executive of DBS Vickers (Hong Kong) Limited (DBSVHK) and, according to the regulator, has falsely stated that he was the…
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The Dutch Authority for the Financial Markets (AFM) announced earlier today that it has signed a Memorandum of Understanding on Mutual Recognition of Funds (MoU) with the Hong Kong Securities and Futures Commission (SFC). Dutch Undertakings for Collective Investment in Transferable Securities (UCITS) and Hong Kong Collective Investment Schemes (CIS) will now be available for…
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The Financial Markets Authority (FMA) has recently added a new name to its list of unregulated firms. The latest addition is the company JJ Lloyd. According to the regulator, the firm may be involved in a scam and is not registered on the New Zealand Financial Service Providers Register. The Hong Kong and Austrian regulators…
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