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Silicon Marketing Limited has entered administration, with Carrie James and Nick Parsk of Oury Clark appointed as joint administrators. The firm is authorised by the FCA for debt purchasing and collection, and existing loan agreements are to remain in place with repayments continuing as normal.
China's Securities Regulatory Commission has fined Futu and UP Fintech a combined $331 million and ordered the wind-down of their cross-border brokerage model within two years. The move targets offshore brokers serving mainland Chinese investors without proper authorization and signals a broader regulatory crackdown.
Polish and Ukrainian authorities have shut down three call centers linked to a large-scale forex fraud scheme targeting thousands of investors. The joint operation led to multiple arrests, asset seizures, and charges against 23 suspects as investigations continue.
The Trade Set Go CFD brokerage unit backed by the founders of The5ers has obtained a new Seychelles licence, adding to its existing Cyprus authorisation. The firm has begun a soft launch under the new offshore entity, targeting clients from emerging markets while keeping its headquarters in Cyprus.
