Between January 2016 and November 2021, Mr Flintham, based in Blackburn, Lancashire, defrauded around 240 investors by making false representations to persuade them to invest approximately £19m in an investment scheme operated by him. Mr Flintham made a number of fraudulent claims to investors, including about how the scheme was operated, and the profits they...
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Aviation and Tech Capital Ltd, trading as Ablrate, enters administration
On 15 January 2024, Aviation and Tech Capital Ltd t/a Ablrate (Ablrate), a regulated Peer-to Peer (P2P) firm entered administration. Sean Bucknall, Brian Burke and Andrew Hosking of Quantuma Advisory Limited were appointed joint administrators. Ablrate operated a Peer to Peer (P2P) lending platform and facilitated crowdfunded loans which are used to finance onward lending...
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AAT affirms ASIC’s decision to ban Victorian adviser Pamela Anderson for two years
The Administrative Appeals Tribunal (AAT) has affirmed ASIC’s decision to ban Ms Pamela Anderson, a Victorian financial adviser, from providing financial services for a period of two years. During the period of the misconduct, Ms Anderson was authorised by Australian financial services licensee The Financiallink Group Pty Ltd (Financiallink), now Nextgen Financial Group Pty Ltd....
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ASIC calls on licensees to strengthen remediation procedures
ASIC is calling on Australian financial services and credit licensees (licensees) to ensure they remediate affected customers quickly and fairly, in line with ASIC’s guidance in Regulatory Guide 277 Consumer Remediation (RG 277). This follows ASIC’s recent review of the remediation policies and procedures of some large financial institutions to assess their implementation of RG...
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ASIC consults on remaking ‘sunsetting’ class orders on unit pricing discretions for managed investment schemes
ASIC is seeking feedback on proposals to remake managed investment scheme unit pricing class orders that are due to expire (‘sunset’) on 1 October 2023. The proposals relate to the following class orders: [CO 13/655] – Provisions about the amount of consideration to acquire interests and withdrawal amounts not covered by ASIC Corporations (Managed investment...
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ESMA APPOINTS NEW MEMBER TO ITS MANAGEMENT BOARD
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has elected a new member to its Management Board to replace an outgoing member who has stepped down from his position. The election took place at the Board of Supervisors meeting in Paris on 14 December and the successful candidate, who...
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