Claims linked to the fraud carried out by firm’s CEO and chairman Robert P. DePalo have not yet been passed to the FSCS’s claims processing teams for assessment.
The new structure brings together a cross-disciplinary team consisting of data scientists, teams from the Engineering area, and representatives from other business areas.
Australia’s Scamwatch advises the public to beware of get-rich-quick schemes, as investment losses top $1.6 million in the week to June 23, 2019.
The new powers allow the regulator to intervene when a product has resulted or is likely to result in significant detriment to consumers.
The US Government notes that there is no reason to immunize a charged co-conspirator because Lee Elbaz wishes to call him as a witness.
Worldwide Markets, which sold its customers single-security CFDs, has not honored a single customer withdrawal request since 2017.
Yehuda Belsky faces up to 40 years in prison, restitution in the full amount of each victim’s losses, forfeiture of $800,000 and a fine of up to $5 million.
If the EU equivalence decision for Swiss trading venues is not extended beyond June 30, 2019, the Swiss authorities may remove the recognition that allows EU trading venues to offer trading in Swiss equity securities.
The UK regulator has reduced the number of unanswered calls from firms from 2% to 1.8% but unanswered calls from consumers increased from 1.6% to 2%.
Interactive Brokers, Guotai Junan, GF Securities among brokers to get SFC notices to freeze certain client accounts
The SFC has issued restriction notices to dozens of brokerages to freeze client accounts linked to suspected manipulation of shares in Smartac Group China Holdings and China Ding Yi Feng Holdings.
Syed Arham Arbab, who operated Artis Proficio Capital Investments and Artis Proficio Capital Management, gets time extension until August 1, 2019.
In total, 57 financial institutions now allow linking accounts to J-Coin Pay.
CFTC gets approval for alternate service on co-founder of binary options firm Berkley Capital Management
Arie Bos has until July 18, 2019 to file an answer to the CFTC complaint.
Nadex has revoked the membership and has permanently banned Juncong Tang from trading on the Nadex markets.