Author Archives: ETE

The Financial Conduct Authority (FCA) has secured court approval to obtain £1.6m from Argento Wealth Ltd (AWL) and its sole director Mr Daniel Willis, who promoted 2 alleged unlawful investment schemes. The FCA previously commenced civil proceedings against AWL and Mr Willis to recover investor funds linked to the firm’s alleged unlawful activity, with the […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today publishes a letter to the European Commission, the Parliament, and the Council (ECOFIN) providing an interim update on the DLT Pilot Regime. The letter provides an update on the status of applications received by national competent authorities (NCAs) to date, […]

ASIC has cancelled the Australian financial services (AFS) licence of Menon & Associates Pty Ltd (489130). The licence was cancelled on the basis that Menon & Associates Pty Ltd is no longer carrying on a financial services business. ASIC may cancel an AFS licence held by an individual if the person ceases to carry on […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today launched a consultation on proposed amendments to Commission Delegated Regulation (EU) No 447/2012 and to Annex I of the Credit Rating Agencies Regulation (CRAR). The objective of the proposals is to ensure a better incorporation of ESG factors in the credit rating […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter. Your one-stop-shop in the world of EU financial markets focused in February and March on EU Green Bonds and our extensive activity on the Markets in Crypto Assets Regulation (MiCA). In both cases, we […]

Sydney-based former financial adviser David Valvo appeared before the Downing Centre Local Court on 2 April 2024 charged with 12 counts of dishonest conduct in the course of carrying on a financial services business, Your Financial Freedom Pty Ltd. ASIC alleges that between 23 July 2019 and 15 January 2020 Mr Valvo acted dishonestly when […]

The Federal Court has dismissed an application by Provide Nominees Pty Ltd (Provide Capital) to prevent ASIC’s further investigation of the entity. Justice Rofe agreed with ASIC’s submission that Provide Capital’s application had no prospects of success. Provide Capital’s application alleged that ASIC did not have the state of mind required to conduct an investigation […]

The Bank of England (BoE), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Payment Systems Regulator (PSR) (together ‘the Authorities’) have a joint-authority Memorandum of Understanding (MoU). The MoU continues to set out the high-level framework the Authorities use to cooperate in relation to payment systems in the UK. The Financial […]

Mr Barreto was sentenced to a total of 2 years’ imprisonment, suspended for 2 years, with 120 hours of unpaid work, for 11 counts of fraud by false representation and 2 counts of carrying on regulated activities without authorisation. Mr Hussain was sentenced to 16 months’ imprisonment, suspended for 2 years, with 120 hours of […]

Mr Stuart Bayes was today found guilty of 2 offences of insider dealing, following an 8-week trial at Southwark Crown Court in a prosecution brought by the Financial Conduct Authority (FCA). Mr Bayes was employed as a site manager at UK plastic manufacturer, RPC Group Plc (RPC). Through his employment he obtained confidential information, known […]