UK regulator publishes final rules on buy-now-pay-later products
The UK's Financial Conduct Authority (FCA) on Wednesday confirmed it will introduce new rules in the buy-now-pay-later (BNPL) market, saving consumers around £40-60 million a year. The changes, which include banning firms from charging backdated interest on money that has been repaid by the consumer during the BNPL offer period ...
Aussie regulator uses conflicted remuneration powers against advisory firm
The Australian Securities & Investment Commission (ASIC) has commenced civil penalty proceedings in the Federal Court against R M Capital Pty Ltd (RM Capital) and its authorised representative, The SMSF Club Pty Ltd (SMSF Club), in relation to accepting conflicted remuneration.
ASIC alleges that SMSF Club advised its clients to ...
France's AMF fines Hedios Patrimoine €50,000 for breaching professional obligations as an advisor
Autorité des Marchés Financiers (France)
Between 1 January 2016 and 15 March 2017, Hedios Patrimoine marketed Euro Medium Term Notes, as well as several collective investment undertakings, via internet.
In response to a plea of lack of jurisdiction raised by Hedios Patrimoine, which argued that it was not operating as ...
US' SEC Updates List of Firms Using Inaccurate Information to Solicit Investors