The New Zealand Financial Markets Authority (FMA) has informed the public that it has suspended the derivatives issuer license of AxiCorp Financial Services Pty Limited (trading as AxiTrader). The company has been making a regulated offer to retail clients in New Zealand without a compliant Product Disclosure Statement or Disclose register entry. AxiCorp has also…
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The European Securities and Markets Authority (ESMA) has released its opinion on product intervention measures taken by the National Competent Authorities (NCAs) of the countries of Germany, Poland, Hungary, and Malta. LeapRate reminds that Germany’s BaFin has recently informed that it maintains restrictions on retail trading with financial CFDs. BaFin first announced its decision back in…
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Australian regulator ASIC has requested earlier today that exchange market operators do not admit any managed funds that do not disclose their portfolio holdings daily. Operators should also have internal market makers while it undertakes a review during the remainder of this calendar year. What is Internal market making? Internal market making occurs when a…
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The UK Financial Conduct Authority (FCA) has started the week by putting out details of several unauthorized firms. These companies are using the details of FCA authorised firms, trying to convince people that they work for a genuine, authorised firm. The following details have been given as part of scam tactics: Fidelity International (clone of…
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Germany's supervisor Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin has informed that the restrictions on the marketing, distribution and sale of financial contracts for difference (CFDs) to retail clients in Germany will continue to apply in future. BaFin first announced its decision back in May 2017, addressing the considerable investor protection concerns. Plus500 Ltd (LON:PLUS), IG Group…
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The New Zealand Financial Markets Authority (FMA) has informed the public that it has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products. A Stop Order can be used by the regulator in order to stop particular behaviour or force a market participant…
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The Cyprus regulator (CySEC) announced that it has decided to suspend the Cyprus Investment Firm (CIF) authorisation of the company AFX Capital Markets Ltd. The above decision was reached as the aforementioned alleged violation causes concern and risk relating to the protection of the Company’s clients or of the investors and constitutes a threat to…
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Australian regulator ASIC has announced yesterday that it has cancelled the Australian financial services (AFS) licence of Melbourne based financial services provider, Golden Financial Group Pty Ltd. The cancellation follows a period of suspension from 18 March 2019. The regulator has already shared its concern that Golden Financial was not complying with its general licensee…
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Busy days for the EU’s securities markets’ regulator ESMA, as the regulator has just published a public consultation on draft guidelines on performance fees under the Undertakings for Collective Investments in Transferable Securities (UCITS) Directive. LeapRate reminds that last week, ESMA has published a statement, addressed to providers marketing, distributing or selling CFDs to retail…
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Right now, it is vital for cryptocurrencies to gain some regulatory "love", otherwise the future of digital coins is bleak. Just now, the US suggested that they will discourage tech companies from issuing digital currencies, and it seems by all means that Donald Trump, the US President, is not a fan of crypto. Probably the…
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