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The Cyprus Securities and Exchange Commission has warned investors about a new group of websites offering, or appearing to offer, investment services without authorisation in Cyprus. The notice highlights domains that resemble regulated brands but are not listed as approved by the regulator.
The Financial Conduct Authority has issued a warning about Crestwood Corporate Group LLP, stating the firm is not authorised to provide financial services in the UK. Consumers dealing with the firm will not have access to UK regulatory protections.
The Australian Securities and Investments Commission identified product governance, onboarding and disclosure gaps at nine online brokers following a review of complex products offered to retail investors. Several entities have since adjusted their practices, while ASIC continues to consider further regulatory or enforcement action.
eToro agreed to acquire US brokerage TradeZero for up to $231 million, expanding its US equities presence. The announcement accompanied second-quarter results showing higher year-over-year net contribution but weaker quarter-on-quarter performance.
The CFTC has filed a civil enforcement complaint against Goliath Ventures Inc. and CEO Christopher Delgado, alleging a large-scale crypto-related Ponzi scheme. The agency claims approximately 1,600 customers contributed at least $397 million, all of which was misappropriated.
Former Berndale Capital Securities director Stavro D'Amore has been sentenced by the Federal Court to a total effective term of three years and ten months, with 23 months to be served in prison, for multiple dishonesty offences. The conduct involved improper transfers of company funds and false and misleading statements to ASIC about overseas bank accounts.
The Federal Court has ordered Harvey Norman Holdings Ltd to pay $35 million and Latitude Finance Australia $20 million for misleading advertising of a 60‑month interest free, no deposit payment method. ASIC said the campaign obscured that consumers had to take out a credit card and pay fees.
Checkout.com has received in-principle approval from the Central Bank of the UAE for a stored value facilities licence, allowing it to expand into issuing alongside its existing acquiring operations. The approval is an initial step and does not yet permit operations, with no go-live date disclosed. The move aligns with broader developments in the UAE’s licensing framework for non-bank payment and remittance firms.
BitMEX will close its trading platform in September after 11 years, marking a major shift in crypto derivatives as regulated venues expand perpetual swaps. Separately, BDSwiss appears to have halted its offshore retail business amid website changes and unresolved client complaints.
The European Commission has opened a targeted consultation on whether DLT-based prediction markets should fall under MiCA or MiFID II. The move follows growing enforcement actions across Europe and marks the first formal EU-level effort to design a specific framework.
The FCA has decided to ban Alec Finch and Robert Finch from UK financial services after the High Court found they engaged in fraud and misused client money at AFL Insurance Brokers Limited. The pair have referred the FCA's Decision Notices to the Upper Tribunal, meaning the findings remain provisional.
Spanish National Police have dismantled an international cyber fraud and money laundering network linked to around €140 million in losses. The group allegedly used fake investment platforms, CEO fraud, false invoices, and man-in-the-middle attacks, supported by an extensive banking and corporate infrastructure across Europe.
