The Securities and Exchange Commission today announced charges against Thunderbird Power Corp., an Arizona-based company claiming to be developing a wind turbine technology, and three individuals for defrauding investors out of more than $1.9 million in the unregistered offer and sale of Thunderbird stock. According to the SEC’s complaint, Thunderbird’s CEO Richard Hinds (of Arizona), […]
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Atlantic Capital Management (clone of EEA authorised firm)
Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm. This is what we call a ‘clone firm’; and fraudsters usually […]
Alpha Sharpe (clone of EEA authorised firm)
Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm. This is what we call a ‘clone firm’; and fraudsters usually […]
SEC Charges App Developer for Unregistered Security-Based Swap Transactions
The Securities and Exchange Commission today charged California-based Abra and a related firm in the Philippines for offering and selling security-based swaps to retail investors without registration and for failing to transact those swaps on a registered national exchange. According to the SEC’s order, Abra developed and owns an app that enabled users to bet […]
7Online/RedRock Ltd
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us. However, some firms act without our authorisation and some knowingly run investment scams. This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we […]
ESMA Budget Amendment n.2 for 2020
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FCA commences civil proceedings in relation to alleged unauthorised regulated mortgage contracts and sale & rent back agreements
The FCA has secured an interim injunction stopping these activities from continuing and a restraint order freezing 17 residential properties worth approximately £3.9 million and the defendants’ other assets up to £867,770. Based upon present information, the FCA believes that the defendants’ activities have affected dozens of individuals, some of whom are highly vulnerable and […]
ESMA issues second report on sanctions under MiFID II
The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has published today its second report on sanctions and measures imposed under the Markets in Financial Instruments Directive (MiFID II) by National Competent Authorities (NCAs) Overall, in 15 (out of 30) EEA Member States, NCAs imposed a total of 371 sanctions and measures […]
Sanctions and measures imposed under MiFID II in 2019
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Invest Wealth Solutions Ltd (clone of FCA authorised firm)
Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm. This is what we call a ‘clone firm’; and fraudsters usually […]