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CFI Financial Group has opened a representative office in Bogotá, appointing Simon Knudson as country manager for its Colombian unit. The move comes nearly nine months after Colombia's Financial Superintendence granted regulatory approval and follows a broader regional licensing push.
ASIC has issued an open letter calling on licensees and market participants to urgently strengthen cyber resilience as frontier AI increases global cyber risks. The regulator stresses cyber resilience as a core licensing obligation and outlines priority actions for entities.
ASIC has permanently banned Queensland property developer Trent Simon Giumelli from providing financial services after finding he operated unregistered managed investment schemes and carried on a financial services business without a licence. The regulator concluded he demonstrated serious incompetence, irresponsibility and a disregard for the law, raising around $48 million from the public over eight years.
CFI Financial Group has opened a Bogotá office and launched CFI Colombia S.A.S, appointing Simon Knudson as chief executive of the local unit. The move comes around nine months after Colombia's Financial Superintendence cleared the group to operate in the country and follows a broader expansion across Latin America.
Outgoing ASIC Chairman Joe Longo used his final speech to call for a ban on unlicensed communications about superannuation, targeting lead-generation pipelines he described as "industrial-scale misconduct." He highlighted enforcement actions, record penalties and emerging risks such as agentic AI as he prepares to hand leadership to Deputy Chairwoman Sarah Court.
The UK's Financial Conduct Authority has launched a competition investigation into PayPal, Visa and Mastercard over digital wallet arrangements. The probe examines whether certain agreements may restrict competition in the UK payments market, with a focus on PayPal's wallet funding and use.
StoneX Group has withdrawn its interest in making an offer for CAB Payments Holdings after key shareholder Helios declined to support its raised proposal of 110 pence per share. Helios, holding about 45% of CAB Payments, is backing its own earlier firm offer instead.
CMC Markets has merged its Singapore stockbroking entity with its primary local unit while retaining the CMC Markets and CMC Invest platforms. The move precedes the planned launch of a multi-asset platform in Singapore and supports the broker’s broader financial super app strategy.
Kudotrade has obtained initial regulatory approval from the UAE's Capital Market Authority and opened a Dubai office, marking its push into the Emirates' CFD market. The Mauritius-licensed broker also acquired the Kudo.com domain, which will become its primary brand identity.
Three individuals have been arrested in an operation targeting suspected illegal financial promotions, led by the FCA and the Eastern Regional Special Operations Unit. The investigation includes property searches and focuses on potential breaches of UK financial crime legislation.
HYCM Capital Markets (UK) Limited reported a net loss for 2025 as administrative expenses more than doubled and foreign exchange movements turned adverse. A one-off gain that boosted 2024 results also dropped out, overshadowing modest revenue growth.
Liquidnet will pay $250,000 and accept a censure to resolve FINRA charges related to six years of inaccurate execution-quality reports under Regulation NMS Rule 605. The case marks the firm’s second censure in four years for similar order-execution reporting issues and highlights ongoing regulatory scrutiny of broker-dealer disclosures.
