8th October 2020
Britain’s financial watchdog said on Tuesday it will ban the sale to retail investors of products that track the price of cryptoassets like Bitcoin, saying most people lose money on them. The Financial Conduct Authority (FCA) said there is no reliable basis for valuing cryptoassets that underpin derivatives and exchange-traded… Read More
1st October 2020
Two American law firms have started building class action law suits against HSBC and Standard Chartered following allegations the banking giants failed to crack down on money laundering. Labaton Sucharow and Schall Law, which both have a track record of pursuing vast legal claims against listed companies, said they have… Read More
30th September 2020
Russian markets are once again being plagued by multiple sanctions threats that could materialize before the end of the year. The prospect of new Western sanctions has helped drive the ruble back toward a four-year low reached during the oil price crash in March. Only Turkish government bonds have performed… Read More
25th September 2020
Securities and tax regulators should have new powers to share information for cracking down on fraudulent tax reclaim schemes, the European Union’s markets watchdog said on Thursday. The European Securities and Markets Authority (ESMA) made the recommendation in its final report to the European Parliament into frauds whereby investors engineer… Read More
24th September 2020
In the Kerch Strait off the Crimean coast, a dangerous undertaking cost 20 people their lives. On January 21, 2019, crews on two tankers were transferring liquified petroleum gas (LPG) from one ship to another at sea. Something went wrong and there was a terrible explosion. Both ships quickly… Read More
24th September 2020
A friend recommended Carmelita Roque invest her savings in Options Rider. Options Rider’s use of Australian banks gave the US Army soldier comfort her money was safe. “Seeing the money that I would be wiring would be going to a country like Australia, in my mind that was convincing enough… Read More
23rd September 2020
By Kyra Gurney, ICIJ, 21 September 2020 ICIJ — After three years of digging, investigators in the United States had accumulated a mountain of evidence that they believed sealed the case against Kaloti Jewellery Group, one of the largest gold traders and refiners in the world. The Dubai-based conglomerate… Read More
21st September 2020
BuzzFeed News — When Robert Meltzer, who runs gyms for children in Los Angeles, found that more than $60,000 in payroll taxes — half a year’s worth — had gone missing in 2013, it was too late. When something similar happened to Stanford Media Group, a company that sold CDs… Read More
21st September 2020
A proposed change to money laundering laws could flood the stock exchange with dirty cash, experts have warned. Financial crime authority AUSTRAC has closed public consultation on a key rule about identifying the source of funds used to buy and sell ASX stocks, which could inadvertently make it easier for… Read More
21st September 2020
Chinese regulators on Saturday introduced a sanctions regime targeting foreign companies operating in China, in a long-anticipated move seen as reciprocation for US policy targeting Chinese firms like Huawei. China’s Ministry of Commerce said the “unreliable entities list” will contain foreign companies that Beijing says “harm China’s national sovereignty, security,… Read More