Regulate the crypto industry! SEC to tighten crypto custody regulations

In order to become a "qualified custodian" under the new proposed rules, U.S. and offshore companies would have an additional need to ensure that all custodial assets - including cryptocurrencies - are properly segregated, and those custodians w

ASIC: Cancelling the Australian Dealer Group financial services licence to introduce exemptions for certain offences

Under this exemption, individuals who cooperate with others to manipulate markets, engage in insider trading, or engage in dishonest conduct while operating a financial services business may, in certain circumstances, seek immunity from civil penalties an

Rockfort Markets has been ordered by New Zealand\'s FMA to rectify allegations of false advertising that misled investors

James Greig, director of supervision at the FMA, said: "We have a range of measures in place to tackle bad behaviour and by naming the firm we want to reinforce our expectations of misleading advertising material, particularly in the area of high-ris

The Rwandan government has banned local banks from participating in cryptocurrency-related transactions

The National Bank of Rwanda (NBR) said it has banned financial service providers in the country from participating in "any activities related to cryptocurrencies until regulations are in place." In a letter to general managers and chief executiv

Last weeks regulatory information summary: FMA, FINMA and other institutions released the latest blacklist

FMA has recently received a report about the company\\\'s investors being unable to withdraw their investments, and the website\\\'s financial products and services contain false advertising and misleading information. In addition, the website falsely cla

Global regulatory information summary: The Hong Kong Securities and Futures Commission, the Monetary Authority of Singapore and other agencies have updated warnings

Last week, a suspicious website with the domain name www.marshallwace-am.com was blacklisted by the Hong Kong Securities and Futures Commission (SFC). The company, which does not have a relevant licence in Hong Kong, is suspected of being or having been m

Magnum FX (Cyprus) Ltd has had its Cypriot investment company licence revoked

In early June 2020, at the request of the UK Financial Conduct Authority (FCA), CySEC suspended the licences of four brokers, including Magnum FX(Cyprus) Ltd and F1 Markets, for a period of 30 days due to their alleged illegal operations in the UK. In the

The US court approved the sale of certain assets by FTX and suspended a civil lawsuit against its founder

According to The Block Research, FTX and Alameda have collectively spent about $5.3 billion on 473 investments through multiple subsidiaries, with a wide range of investments. However, the bankruptcy court also approved the removal of FTX Turkey from the

Inveza Capital Ltd\'s Cyprus investment company licence revoked

The Cyprus Securities and Exchange Commission (CySEC) today announced that it has revoked Inveza Capital Ltd\'s Cyprus Investment Company (CIF) licence, No. 209/13. In accordance with Article 8(1)(a) of the Investment Services and Activities and Regulated

Note to EminiFX investors: CEO pleads guilty to $248 million fraud in U.S. and agrees to pay compensation

On Friday (Feb. 10), the U.S. Justice Department announced that Eddy Alexandre, the CEO of cryptocurrency and foreign exchange trading platform EminiFX, has pleaded guilty to running a fraud scheme against tens of thousands of investors and agreed to forf

China Banking and Insurance Regulatory Commission People\'s Bank issued "Commercial Banks Financial Assets Risk Classification Measures"

A perfect risk classification system is the premise of effective prevention and control of credit risks. In 1998, the People\'s Bank of China issued the Guiding Principles for Loan Risk Classification, which proposed the concept of five-level classificati

The People\'s Bank of China issued the Administrative Measures on Related Transactions of Financial Holding Companies

The financial holding company has a large number of participating institutions, complex business and organizational structure, large volume of financial activities and high correlation, and standardizing the management of related party transactions is an

CySEC: Licenses of well-known Russian brokers on the blacklist of 7 platforms have been revoked

Otkritie Capital Cyprus Ltd is owned by Otkritie FC Bank, one of the largest full-service commercial banks in Russia. Otkritie FC Bank has more than 440 offices in Russia. Igor Finogenov, the chief executive officer of the Eurasian Development Bank, is th

A broker has been fined £3.44m by the FCA for market misconduct

The official notification said that between 2008 and 2015, the broker, TFS-ICAP, engaged in the practice of "faking" trades, telling clients that trades were being made at a specific price or volume, even though no such trades had actually been

Cancel! ASIC cancelled the AFS licences of two financial company entities, including Jels

In summary, ASIC expects AFS licensees to do all that is necessary to meet their obligations under financial services law, comply with their licence conditions and ensure the efficient, honest and fair provision of the financial services covered by the li