Category: Press Releases

In a speech, given today, Sheldon Mills, Executive Director of Consumers and Competition at the FCA, warned that firms who ignore the Duty or who pose the most harm can expect swift action. Sheldon Mills said: ‘Our supervisory and enforcement approach will be proportionate to the harm – or risk of harm – to consumers,...

ASIC has cancelled the Australian financial services (AFS) licence of DGR Bloodstock Services Pty Ltd (DGR). The licence authorised DGR to provide financial product advice and deal in interests in managed investment schemes limited to horse racing to retail and wholesale clients. ASIC cancelled the licence because DGR has ceased to carry on a financial...

ASIC has cancelled the Australian financial services (AFS) licence of Capital Investment Partners Pty Ltd (Capital Investment Partners). The license authorised Capital Investment Partners to deal in securities and interests in managed investment schemes and to provide financial product advice for wholesale clients. ASIC cancelled the licence because Capital Investment Partners has ceased to carry...

The inspections were part of a joint operation with the South West Regional Organised Crime Unit, Yorkshire and Humber Regional Organised Crime Unit and the Nottinghamshire Police force. Therese Chambers, Executive Director of Enforcement and Market Oversight at the FCA, said: ‘Crypto ATMs operating without FCA registration are illegal. The action we’ve taken over the...

The FCA has used its powers to inspect sites in Exeter, Nottingham and Sheffield suspected of hosting illegally operated crypto ATMs, as part of a continued crackdown on this illicit sector. The inspections were part of a joint operation with the South West Regional Organised Crime Unit, Yorkshire and Humber Regional Organised Crime Unit and...

The FCA has decided to fine Banque Havilland £10m; its former London branch CEO, Edmund Rowland, £352,000; David Weller, a former London branch senior manager, £54,000; and Vladimir Bolelyy, a former London branch employee, £14,200. The FCA has decided to ban all 3 individuals from working in financial services. The FCA considers that between September...

The Financial Conduct Authority (FCA) is today setting out actions to improve the confidence of whistleblowers – including sharing further information with whistleblowers on how it’s acted on their information; improving the use of information provided by whistleblowers; and improving how it captures information from whistleblowers. This follows a qualitative survey of whistleblowers who had...

The FCA wants to make the listing regime, the rules companies must follow to be allowed to list their shares in the UK, more effective, easier to understand and more competitive. The FCA has been acting to improve the UK’s position for years. Within months of leaving the European Union, 2 years ago, the FCA...

Gabriel Govinda (known online as ‘Fibonarchery’) has been sentenced to two and a half years imprisonment to be released immediately on a 5 year recognisance in the amount of $5,000 and fined $42,840 after pleading guilty to 23 charges of manipulation of shares listed on the Australian Securities Exchange and 19 charges of illegal dissemination...

ASIC today called on investment product issuers to ‘lift their game’ after an initial review found significant room for improvement in how they meet their design and distribution obligations (DDO). The DDO, now into its second year, marks a significant shift to outcomes-based regulation. Ultimately, it requires financial products to be designed and distributed with...