Category: Regulation
-
Following Fraser Perring, German Regulator Clamps Down On Adler!
•
Short-seller Fraser Perring has exposed Adler’s accounting already in 2021. In a balance sheet audit, the German BaFin confirmed Perring’s allegations and finds almost four billion euros too much on the balance sheet of the real estate group. In the audit of Adler Real Estate’s 2019 consolidated financial statements, the…
-
Bafin Director Thorsten Pötzsch: “The Risk Of Getting Caught Has Never Been So High!”
•
After the Wirecard debacle, Germany reorganized BaFin’s regulatory balance sheet control. Thorsten Pötzsch, head of Bafin’s securities regulator, emphasized the new system’s effectiveness at a symposium in Vienna. He referred to discovered accounting errors that auditors had failed to detect.
-
SEC Chair Gary Gensler Launches Investigation Against FTX!
•
Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), warned the crypto industry, saying, “We need to protect crypto investors. Time is running out!” According to Gensler, the FTX collapse follows the same pattern as the crash of many other crypto platforms. He said that these platforms…
-
SEC Fines Koppers $1.3 Million!
•
The Securities and Exchange Commission (SEC) has settled a lawsuit against Koppers Holdings for failing to disclose material information related to two non-GAAP financial measures the company highlighted in connection with its debt reduction efforts. The Commission’s order states that Koppers failed to disclose that it achieved its debt reduction…
-
SEC Philippines Revokes The Registration Of MLM Fraud Scheme Operators!
•
The Philippines Securities and Exchange Commission (SEC) has revoked the corporate registration of Astrazion Noble Task Community Foundation and Astrazion Global Holdings Philippines, Inc. In a statement, the regulator said the companies solicited investments from the public without the required license and through a fraudulent scheme. In an order, the…
-
Attention! SEC Sends Subpoena To Crypto Influencers For HEX, PulseChain, and PulseX!
•
Financial influences may be at risk of violating regulatory rules. The U.S. SEC asks several influencers to submit data and documents related to specific crypto projects they have promoted. For several years, crypto influencers have been a thorn in the side of regulators, often promoting risky and unverified crypto projects.…
-
Malaysia Establishes National Scam Response Center to Fight Cybercrime!
•
The Malaysian government has established a National Scam Response Center (NSRC) to improve inter-agency coordination and enable rapid response to online financial fraud. The command centre is a joint effort between the National Anti-Financial Crime Center (NFCC), Polis Diraja Malaysia (PDRM), Bank Negara Malaysia (BNM), the Malaysian Communications and Multimedia…
-
BaFin Warns Of “FRAUDULENT AUTHORITY” In Germany Posing As UK FCA!
•
“BaFin would like to clarify that the U.K. Financial Conduct Authority is not targeting consumers in Germany.” The German Federal Financial Supervisory Authority (BaFin) has warned that retail investors are being contacted by people claiming to work for the U.K. Financial Conduct Authority (FCA).
-
Another BaFin Executive Fired Over Wirecard Scandal!
•
German regulator BaFin is parting ways with its executive director Beatrice Freiwald after a months-long legal dispute. The supervisor is leaving “by virtue of a decision by the German government as a member of Bafin’s board of directors,” the authority announced on Tuesday evening.
-
Bravo! Credit Card Startup Moss Secures BaFin E-Money License!
•
Berlin-based corporate credit card FinTech Moss secured a BaFin license. The corporate credit card company received €75 million in financing at the beginning of the year. Moss CEO Ante Spittler confirmed that the company had obtained an e-money license in June 2022.