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  • BaFin cease-and-desist order against unauthorized payment processor Fronter Decision

    BaFin cease-and-desist order against unauthorized payment processor Fronter Decision

    Fronter Decision GmbH, registered in Offenbach, Germany, was entered into the commercial register in April 2019. The Ukrainian Nikitin Oleksiy was appointed as the sole managing director. In fact, many of the German money laundering companies have Ukrainian directors. As non-EU citizens, these are hardly legally enforceable. BaFin issued a cease-and-desist order against the company in November 2020, which is now final.

     
  • FCA warning against PolarisTradePay crypto scam

    FCA warning against PolarisTradePay crypto scam

    PolarisTradePay (www.polaristradepay.com) is an unregistered brokerage platform in the field of energy, agriculture, stocks, and crypto-currencies. The UK FCA issued an investor warning against the broker on December 11, 2020, and calls it a scam. The platform is allegedly operated by Polaristrade.com Ltd, which does not exist.

     
  • U.S. CFTC Enforcement Division presents impressive 2020 results

    U.S. CFTC Enforcement Division presents impressive 2020 results

    On Dec 1, 2020, the U.S. CFTC's Division of Enforcement published its annual report for Fiscal Year 2020 (FY 2020). CFTC enforcement actions during FY 2020 resulted in $1,327,869,760 in ordered monetary relief, the fourth-highest total on record, and the third straight year-over-year increase.

     
  • BaFin issued a cease-and-desist order against a dissolved laundromat

    BaFin issued a cease-and-desist order against a dissolved laundromat

    Many German companies are acting as unauthorized payment processors for scammers. The law calls it money laundering. Lipans Smart Consult GmbH was one of those laundromats. BaFin issued a Cease-and-Desist Order but the company has already been dissolved months ago.

     
  • Italian Consob orders black-out of five illegal financial services providers

    Italian Consob orders black-out of five illegal financial services providers

    Consob is currently the only financial market regulator known to us that has the legal authority to order internet providers to black-out of illegal financial sites. Including the five new black-out orders, Consob has already blocked 335 websites for the Italian market. Almost all blocked sites offer illegal broker services.

     
  • Following CFTC the UK FCA fined TFS-ICAP for fraudulent trading practices

    Following CFTC the UK FCA fined TFS-ICAP for fraudulent trading practices

    It took two years before the UK regulator followed FCA after the U.S. CFTC's Regulatory Enforcement Action and fined the FCA-licensed FX broker TFS-ICAP for fraudulent trading practices. FCA recently announced that it has imposed a £3.44 million financial penalty on TFS-ICAP Ltd for market misconduct.

     
  • The SEC on a new regulatory course after Jay Clayton’s departure?

    The SEC on a new regulatory course after Jay Clayton’s departure?

    The U.S. Securities and Exchange Commission (SEC) is undoubtedly the world's leading regulator, making decisions and setting standards that go far beyond the U.S. That said, the appointment of the SEC chair is a political statement with far-reaching consequences for the global community of regulators. Jay Clayton, the SEC chairman of the Trump announced his departure and makes way for his successor under the Biden era.

     
  • SEC awards over $1 million to Whistleblower for independent analysis

    SEC awards over $1 million to Whistleblower for independent analysis

    The U.S. SEC announced an award of over $1.1 million to a whistleblower whose independent analysis led to a look at new conduct during an ongoing investigation. This whistleblower investigated publicly available materials and conducted an analysis that revealed important new insights into securities law violations.

     
  • Whistleblower Programs – U.S. SEC awards $900,000 for exposing overseas violations

    Whistleblower Programs – U.S. SEC awards $900,000 for exposing overseas violations

    The U.S. Whistleblower programs of regulators such as the SEC and CFTC are becoming a lucrative business for agencies that focus on the procurement of whistleblower information. This includes activities outside the U.S. This week the SEC awarded $900,000 for the detection of securities law violations overseas. Whistleblowers get their awards from monetary sanctions paid to the regulator from the offenders.

     
  • FCA issues warning against FinTech wonder Lanistar

    FCA issues warning against FinTech wonder Lanistar

    Lanistar is a prominent FinTech on Instagram and proudly presents young, sexy, and fashionable influencers on its website. The company was also hyped by bullish press releases from its partner MasterCard. The FinTech is aiming for a £1 billion valuation. The UJ FCA, however, has issued an investor warning against Lanistar, advising that it’s operating without authorization in the U.K.

     
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