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Europe's Economic Crossroads: Recession Fears and S&P Global's
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Retail FX
XTB Clone Scam: FCA Issues Urgent Investor Warning
2023-12-28T15:10:52.501+02:00
The regulator issues alert on unauthorized XTB clone scamming investors.
"XTB Trading World" is not associated with the original brand in any way.
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Retail FX
FCA Identifies Clone Firms Imitating Hargreaves Lansdown and Westpac
2023-12-27T18:06:29.894+02:00
Clone firms impersonate popular financial brands in the UK.
This time, the FCA warns against clones of a popular bank and trading company.
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Retail FX
Beware the Clone: UK Watchdog Flags Fake Spreadex Site
2023-12-22T14:21:45.677+02:00
Scammers use a domain name strikingly similar to spreadex.com.
Clone firms trick investors with false promises, leading to financial losses.
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Retail FX
Regulators on High Alert: FCA, SFC, and FSC Issue New Warnings
2023-12-20T13:23:24.911+02:00
New entities flagged for lacking investment service licenses.
Regulators like FCA, SFC, and FSC stay active, updating warning lists daily.
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Institutional FX
Odey Asset Management Receives FCA Clearance amid Allegations of Sexual Misconduct
2023-12-19T16:52:57.860+02:00
The inquiry into Crispin Odey and his firm was started in 2021.
In June, amidst allegations from thirteen women, the situation unfolded, leading to significant repercussions.
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Retail FX
Premier FX Collapse: FCA's Reply to Commissioner's Report
2023-12-18T18:45:24.108+02:00
The regulator will not provide additional compensation to the victims for complaint delays.
All 167 customers received reimbursements, with Barclays contributing £10,076,943.75.
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Retail FX
Regulatory Sloth: FCA Sluggish in Adapting to Financial Market Crimes
2023-12-11T12:39:58.196+02:00
The FCA is undergoing major reform to combat financial crime faster.
A National Audit Office report has highlighted the need to effectively manage these changes.
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Retail FX
FCA Issues 1,716 Warnings about Unregistered Firms from April 2022 to March 2023
2023-12-08T19:25:27.471+02:00
The regulator prevented 1 in 5 new consumer investment firms from entering the market.
Inquiries about potential scams have increased 12% annually since 2020.
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CryptoCurrency
FCA Flags Crypto Exchange LYKKE for Unauthorized Financial Services Promotion
2023-12-08T16:17:37.689+02:00
LYKKE allegedly promotes its services without permission from the FCA.
FCA's cautionary alert provided specific details about the company.
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News
FCA Flags Poloniex: Affiliation with Justin Sun Raises Concerns
2023-12-07T14:46:25.277+02:00
Platforms, including HTX, experienced four hacks in the last two months.
Despite security efforts, Poloniex will gradually resume services for more cryptocurrencies.
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Institutional FX
FCA: Cash Savings Market Experiences Surging Interest Rates
2023-12-06T15:37:16.691+02:00
Easy access accounts are offering interest rates exceeding 5%.
FCA's intervention has led to a decline of £11 billion in non-interest-bearing accounts.
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Institutional FX
FCA Is Pushing for Enhanced Liquidity in Money Market Funds
2023-12-06T14:10:59.253+02:00
The FCA proposes reforms to enhance MMF resilience, aligning with international standards.
Revised measures target increased liquidity and reduced investor redemption controls.
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Retail FX
News Nuggets | 6 December: Capital.com Hires New CSO; Robinhood Adds 135 Symbols
2023-12-06T13:04:13.252+02:00
FCA warns against Christmas fraud; GSTechnologies purchases Semnet.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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Retail FX
News Nuggets | 5 December: Equals Updates on Acquisition; FCA Presents New Plans
2023-12-05T12:40:47.623+02:00
Also, Fintel purchased Synaptic Software; Nomura appointed new European Chairman.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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FinTech
Crypto.com Secures FCA Nod for E-Money Offerings in the UK
2023-12-04T12:16:08.110+02:00
The firm holds licenses from the Monetary Authority of Singapore, US, France, Singapore, Australia, etc.
Its Dubai entity, CRO DAX Middle East FZE, was granted a VASP Licence by the VARA.
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CryptoCurrency
Crypto Tax Haven? Switzerland Outpaces Regulatory Competition
2023-11-30T16:43:29.296+02:00
Switzerland's crypto regulation and taxation are better than the EU's MiCA laws.
The Swiss regulatory framework, overseen by FINMA, supports crypto exchanges.
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Regulation
Temporary Measures: FCA Allows Investment Companies to Break Down Costs
2023-11-30T14:22:06.221+02:00
Firms and funds are encouraged to incorporate additional details in line with the Consumer Duty.
Earlier, the organization proposed that investment firms maintain ample reserves for consumer compensation.
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FinTech
Navigating Financial Challenges: RFX Enters Special Administration
2023-11-30T12:49:36.560+02:00
The firm offers foreign exchange and payment services to corporate and retail customers.
Under special administration, the firm retains FCA authorization with JSAs overseeing court compliance.
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Retail FX
News Nuggets | 30 November: ASIC Revokes AFS License; FCA Fines Three Money Transfer Firms
2023-11-30T12:34:11.887+02:00
Also, FMA and FMSB collaborated; TradingView and Santander Financial started partnerships.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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CryptoCurrency
UK Government Urges Disclosure of Unpaid Crypto Taxes, Warns of Penalties
2023-11-29T18:41:03.294+02:00
Failure to comply within 30 days may lead to penalties in the UK.
The UK government is planning to incorporate crypto in self-assessment forms.
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Retail FX
FCA Implements "Polluter Pays" Rule to Safeguard Personal Investments
2023-11-29T10:14:11.801+02:00
New reserves would cover poor advice redress.
The regulator is now starting the consultation period, which runs until March 2023.
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Retail FX
News Nuggets | 28 November: Ledger Partners with YouHodler; KX Launches AI Server
2023-11-28T13:42:10.499+02:00
Also, FCA warned against two clone firms; Mastercard and Warply teamed up in MENA.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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FinTech
FCA Greenlights Worldline for the UK Fintech Expansion
2023-11-28T10:39:44.511+02:00
Worldline strengthens in the UK post-Brexit with FCA payment license.
The new authorization will allow the company to expand in the country.
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Retail FX
News Nuggets | 27 November: Argo Welcomes New CEO; HIVE Acquires Swedish Data Center
2023-11-27T12:35:52.842+02:00
Also, the FCA issued a warning against VentureXchange.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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Retail FX
FCA Targets over 700 Unused Financial Licenses in Consumer Safety Drive
2023-11-27T10:47:57.306+02:00
The UK regulator revokes unused financial licenses for consumer safety.
New laws have been in force since 2022.
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