Financial MarketsAuthority (FMA) of New Zealand has issued a warning about CapitalvestPRO, whichhas the hallmarks of a scam. CapitalvestPRO falsely claims to be located andregistered in New Zealand, but does not appear in company records or theFinancial Service Providers Register. It offers financial services withoutproper authorization from New Zealand or overseas regulators. The FMA has warned investors to be wary, as CapitalvestPRO does not appear to be a legitimatecompany and lacks regulatory oversight.
The FMAdiscovered the potential scam when investigating CapitalvestPRO's website andstated the address in New Zealand, which does not exist. The company also usesmultiple email addresses and a phone number to imply it operates in the countryfalsely. The FMA has warned the public to avoid interacting with CapitalvestPRO andnotified investors to be vigilant against such financial scams.
Italy'ssecurities regulator CONSOB has ordered 5 new websites to be blocked foroffering financial services illegally without proper authorization. This bringsthe total number of blocked scam websites to 970 since CONSOB was granted theauthority to black them out in 2019.
The Trading Pit AppointsNew Dealing Head
Theproprietary trading company, The Trading Pit, has announced that Hakam Thajli joinedits ranks as the new Head of Dealing.
“I’m happyto share that I’m starting a new position as Head of Dealing at The Trading Pit,”Thajli commented on his LinkedIn profile.
In thepast, he worked for Orbex, Vinson Financial, and Falcon Brokers, starting hiscareer in finance over 20 years ago.
Interactive Brokers’Platform Latest Build 10.26
InteractiveBrokers has released new features in Build 10.26 of its Trader Workstationplatform. Advisors can now choose static or dynamic allocations for models,take advantage of tax loss harvesting across multiple securities and accounts,easily roll futures contracts, and allocate trades by percentage of positionfor account groups.
The updateprovides more flexibility for advisors to manage client investments. The newtax loss harvesting tool identifies losing positions across accounts to lowertaxes. The futures roll feature streamlines rolling contracts through acombination order. Overall, the latest build aims to improve advisors'efficiency through enhanced allocation controls and trading tools.
CONSOB Blacks Out 5Abusive Websites
The latestabusive websites claim to offer cryptocurrency, trading, and investmentservices. CONSOB states the blackouts are ongoing due to technical procedures,but prevent further potential fraud against Italian investors. CONSOB remindsinvestors to carefully check licenses, prospectuses, and registration of anycompany offering financial services.
Theregulator maintains a "Watch for Scams!" section on its website towarn about fraudulent schemes. CONSOB continues monitoring activities toprotect investors by using its powers to block websites that pose threats. Theblackouts underscore the need for heightened diligence when evaluatinginvestment opportunities online.
Astra Financial and WeLabLaunch Bank Saqu
AstraFinancial and WeLab have launched a new digital banking service in Indonesia called Bank Saqu. Bank Saqu is designed to meet the needs of individuals andSMEs with a solopreneur spirit. It provides tools to help customers easilymanage their finances, such as creating customized pockets for side-hustleincome and expenses. The launch aligns with Astra and WeLab's goals to driveinnovation in financial technology and increase financial inclusion inIndonesia.
Bank Saqu has emerged at an opportune time, as a recent study predicted that 1 in 3Indonesians will be solopreneurs by 2030. Astra Financial and WeLab aim forBank Saqu to contribute to the growth of the Indonesian banking industrythrough its digital capabilities and collaboration between the two companies.
ASIC and RBA AcknowledgeASX’s CHESS Solution Design Announcement
ASIC, theAustralian financial watchdog, and the Rerserve Bank of Australia (RBA) haveacknowledged ASX's announcement of a new solution design to replace the CHESSsecurities settlement system. The product-based solution and vendor wererecommended by an advisory group established to provide input on strategicclearing and settlement issues.
Whileacknowledging the announcement as a foundational step, ASIC noted ASX still requires significant work to deliver the replacement on arealistic timeline. ASIC and the RBA expect ASX to focus on engaging with themarket on the detailed design and address findings from past audits to avoidrepeating previous issues. The group will provide ongoing advice throughout the process
New Commissioners Commence at ASIC
ASIC's Chairman, Joe Longo, welcomed new Commissioners Simone Constant and Alan Kirkland as theybegan 5-year terms. The Treasurer had announced their appointments alongsideKate O'Rourke to serve alongside Longo, Deputy Chair Sarah Court, and DeputyChair Karen Chester. Longo said the Commissioners' experience will support ASICin delivering on strategic priorities and maintaining consumer protection focusamid cost of living pressures.
Constantwill initially focus on markets and superannuation; Kirkland on insurance,credit, financial advice and investments; and O'Rourke on banking, payments,audit, insolvency, and registers.
LSEG Appoints Michel-AlainProch as Chief Financial Officer
The LondonStock Exchange Group (LSEG) has appointed Michel-Alain Proch as its new ChiefFinancial Officer (CFO). Proch will join LSEG on 26 February 2024 andofficially succeed Anna Manz on the Board on 1 March 2024. He brings varied experiencefrom CFO roles at global companies including Publicis Groupe, Ingenico, andAtos.
LSEG's CEO, David Schwimmer, welcomed Proch, stating his expertise across financialinfrastructure and data solutions firms will be valuable as LSEG executes itsstrategic growth.
UAE-Based Fuze ReceivesBroker Dealer Licence from Dubai’s VARA
Fuze, adigital assets company based in Abu Dhabi, has been granted a virtual assetsservice provider licence by Dubai's Virtual Assets Regulatory Authority (VARA). The VARA licence enables Fuze to offer regulated broker-dealer services for virtualassets like cryptocurrencies and stablecoins.
InSeptember, Fuze raised $14 million and works with banks and enterprises toembed digital asset capabilities. Its CEO, Mohammed Ali Yusuf said the VARAlicence allows Fuze to provide regulated infrastructure so businesses canconfidently adopt its services as Dubai grows as a digital assets hub. Theregulatory approval positions Fuze to expand its broker-dealer offerings in theUAE's expanding virtual asset industry.
Financial MarketsAuthority (FMA) of New Zealand has issued a warning about CapitalvestPRO, whichhas the hallmarks of a scam. CapitalvestPRO falsely claims to be located andregistered in New Zealand, but does not appear in company records or theFinancial Service Providers Register. It offers financial services withoutproper authorization from New Zealand or overseas regulators. The FMA has warned investors to be wary, as CapitalvestPRO does not appear to be a legitimatecompany and lacks regulatory oversight.
The FMAdiscovered the potential scam when investigating CapitalvestPRO's website andstated the address in New Zealand, which does not exist. The company also usesmultiple email addresses and a phone number to imply it operates in the countryfalsely. The FMA has warned the public to avoid interacting with CapitalvestPRO andnotified investors to be vigilant against such financial scams.
Italy'ssecurities regulator CONSOB has ordered 5 new websites to be blocked foroffering financial services illegally without proper authorization. This bringsthe total number of blocked scam websites to 970 since CONSOB was granted theauthority to black them out in 2019.
The Trading Pit AppointsNew Dealing Head
Theproprietary trading company, The Trading Pit, has announced that Hakam Thajli joinedits ranks as the new Head of Dealing.
“I’m happyto share that I’m starting a new position as Head of Dealing at The Trading Pit,”Thajli commented on his LinkedIn profile.
In thepast, he worked for Orbex, Vinson Financial, and Falcon Brokers, starting hiscareer in finance over 20 years ago.
Interactive Brokers’Platform Latest Build 10.26
InteractiveBrokers has released new features in Build 10.26 of its Trader Workstationplatform. Advisors can now choose static or dynamic allocations for models,take advantage of tax loss harvesting across multiple securities and accounts,easily roll futures contracts, and allocate trades by percentage of positionfor account groups.
The updateprovides more flexibility for advisors to manage client investments. The newtax loss harvesting tool identifies losing positions across accounts to lowertaxes. The futures roll feature streamlines rolling contracts through acombination order. Overall, the latest build aims to improve advisors'efficiency through enhanced allocation controls and trading tools.
CONSOB Blacks Out 5Abusive Websites
The latestabusive websites claim to offer cryptocurrency, trading, and investmentservices. CONSOB states the blackouts are ongoing due to technical procedures,but prevent further potential fraud against Italian investors. CONSOB remindsinvestors to carefully check licenses, prospectuses, and registration of anycompany offering financial services.
ADVERTIsem*nT
Theregulator maintains a "Watch for Scams!" section on its website towarn about fraudulent schemes. CONSOB continues monitoring activities toprotect investors by using its powers to block websites that pose threats. Theblackouts underscore the need for heightened diligence when evaluatinginvestment opportunities online.
Astra Financial and WeLabLaunch Bank Saqu
AstraFinancial and WeLab have launched a new digital banking service in Indonesia called Bank Saqu. Bank Saqu is designed to meet the needs of individuals andSMEs with a solopreneur spirit. It provides tools to help customers easilymanage their finances, such as creating customized pockets for side-hustleincome and expenses. The launch aligns with Astra and WeLab's goals to driveinnovation in financial technology and increase financial inclusion inIndonesia.
Bank Saqu has emerged at an opportune time, as a recent study predicted that 1 in 3Indonesians will be solopreneurs by 2030. Astra Financial and WeLab aim forBank Saqu to contribute to the growth of the Indonesian banking industrythrough its digital capabilities and collaboration between the two companies.
ASIC and RBA AcknowledgeASX’s CHESS Solution Design Announcement
ASIC, theAustralian financial watchdog, and the Rerserve Bank of Australia (RBA) haveacknowledged ASX's announcement of a new solution design to replace the CHESSsecurities settlement system. The product-based solution and vendor wererecommended by an advisory group established to provide input on strategicclearing and settlement issues.
Whileacknowledging the announcement as a foundational step, ASIC noted ASX still requires significant work to deliver the replacement on arealistic timeline. ASIC and the RBA expect ASX to focus on engaging with themarket on the detailed design and address findings from past audits to avoidrepeating previous issues. The group will provide ongoing advice throughout the process
New Commissioners Commence at ASIC
ASIC's Chairman, Joe Longo, welcomed new Commissioners Simone Constant and Alan Kirkland as theybegan 5-year terms. The Treasurer had announced their appointments alongsideKate O'Rourke to serve alongside Longo, Deputy Chair Sarah Court, and DeputyChair Karen Chester. Longo said the Commissioners' experience will support ASICin delivering on strategic priorities and maintaining consumer protection focusamid cost of living pressures.
Constantwill initially focus on markets and superannuation; Kirkland on insurance,credit, financial advice and investments; and O'Rourke on banking, payments,audit, insolvency, and registers.
LSEG Appoints Michel-AlainProch as Chief Financial Officer
The LondonStock Exchange Group (LSEG) has appointed Michel-Alain Proch as its new ChiefFinancial Officer (CFO). Proch will join LSEG on 26 February 2024 andofficially succeed Anna Manz on the Board on 1 March 2024. He brings varied experiencefrom CFO roles at global companies including Publicis Groupe, Ingenico, andAtos.
LSEG's CEO, David Schwimmer, welcomed Proch, stating his expertise across financialinfrastructure and data solutions firms will be valuable as LSEG executes itsstrategic growth.
UAE-Based Fuze ReceivesBroker Dealer Licence from Dubai’s VARA
Fuze, adigital assets company based in Abu Dhabi, has been granted a virtual assetsservice provider licence by Dubai's Virtual Assets Regulatory Authority (VARA). The VARA licence enables Fuze to offer regulated broker-dealer services for virtualassets like cryptocurrencies and stablecoins.
InSeptember, Fuze raised $14 million and works with banks and enterprises toembed digital asset capabilities. Its CEO, Mohammed Ali Yusuf said the VARAlicence allows Fuze to provide regulated infrastructure so businesses canconfidently adopt its services as Dubai grows as a digital assets hub. Theregulatory approval positions Fuze to expand its broker-dealer offerings in theUAE's expanding virtual asset industry.
