XS.com Appoints New Senior
Customer Support Manager
XS.com, a
global FinTech and financial services provider, has announced the appointment
of Pavlina Zinonos as their new Senior Customer Support Manager. Zinonos brings
over 15 years of industry experience to the role and is known for her
consistent performance.
“I’m thrilled to be a part of the XS Group,
an organization that shares my values of transparency and excellence in
customer support,” Zinonos commented. “I see a strong alignment between my personal values and
XS.com’s mission to provide exceptional service and support to our clients. I
look forward to working closely with the team and contributing to the company’s
commitment to delivering outstanding customer experiences.”
She will
lead a team of professionals in delivering top-notch customer support. Her
appointment aligns with XS.com’s mission to provide exceptional service and
support to its clients.
Scope Markets Expands
Asset Offerings
Scope
Markets, a global securities broker, has expanded its range of tradable assets
in response to customer demands. The company has added over 100 new CFDs,
including American Depositary Receipts and ETFs from Japan and Hong Kong.
“As a business, we’re always eager to respond to
evolving customer needs, which underlines our ‘can-do’ approach as a business,”
Pavel Spirin, the CEO of Scope Markets, commented.
“Partners
will frequently ask us to help them find a solution to access exotic markets or
asset classes, which drives these product additions, that we, in turn, are
happy to make available to our global customer base.”
FCA Takes Action on
Buy-Now-Pay-Later Contracts
The
Financial Conduct Authority (FCA) has made changes to contract terms for
buy-now-pay-later (BNPL) firms, following research that shows a significant
increase in the use of BNPL products.
The FCA’s
Financial Lives research revealed that 27% of UK adults have used BNPL services
at least once in the past six months, and frequent users are more likely to be
in financial difficulty.
Moomoo Singapore Adopts
Nasdaq Trade Surveillance Solutions
Moomoo
Singapore, a digital brokerage and wealth management platform, is partnering
with Nasdaq to enhance its market surveillance capabilities. The move aims to
promote fair trading practices and maintain a secure trading environment.
Nasdaq’s
surveillance technology will enable Moomoo Singapore to better protect their
investors and meet regulatory obligations.
SFC Consults on
Uncertificated Securities Market
The
Securities and Futures Commission (SFC) has launched another consultation on
implementing an uncertificated securities market in Hong Kong. The consultation
invites views on proposed amendments to various codes and guidelines, and
follows an earlier consultation in March 2023. The SFC aims to gather feedback
by 15 December.
Court of Final Appeal
Dismisses Appeal in Market Manipulation Case
The Court
of Final Appeal has dismissed an appeal by a group of defendants suspected of
market manipulation. The SFC brought the case and involves alleged false
trading that generated around $124.9 million in illicit profits. The court’s
decision affirms the SFC’s jurisdiction over persons engaging in market
manipulation, regardless of their location.
FCA Joins Project Guardian
for Digital Innovation
The FCA is
partnering with global regulators as part of Project Guardian. This initiative
aims to explore the benefits, challenges, and commercial use cases of asset and
fund tokenization. The FCA sees significant potential in the use of distributed
ledger technology to drive innovation in the UK’s asset management sector.
ASIC Highlights Concerns
in Reportable Situations Regime
The
Australian Securities and Investments Commission (ASIC) has released its second
publication on the reportable situations regime. The report shows little
improvement in key areas of concern and indicates that some licensees may not
be complying with the regime. ASIC plans to take stronger regulatory action to
improve compliance.
“The
reportable situations regime has now been in place for over two years, and
licensees have had ample time to take the necessary steps to ensure full
compliance with the requirements,” said ASIC Chairman Joseph Longo.
NFA Fines Oscar Gruss
& Son Inc.
The
National Futures Association (NFA) has ordered Oscar Gruss & Son Inc., a
New York-based introducing broker, to pay a $140,000 fine for failing to comply
with communication recordkeeping obligations and other violations. The decision
is based on a complaint issued by NFA’s Business Conduct Committee.
Travelex Celebrates 20
Years in Japan
Foreign
exchange brand Travelex is celebrating its 20th anniversary in Japan. The
company has expanded its network to over 70 retail stores across the country
and has introduced several digital products to the Japanese market. Travelex
aims to open its 100th store in the coming years.
MFA Urges FCA and PRA to
Eliminate Redundant Regulations
The Managed
Funds Association (MFA) has encouraged the UK FCA and the UK Prudential
Regulatory Authority (PRA) to eliminate redundant securitisation regulations.
The MFA argues that removing these regulations will optimize risk management
and increase capital investment in the UK.
Backpack Exchange Receives
VASP License in Dubai
Backpack,
the company behind the web3 wallet and Mad Lads NFT collection, has announced
the launch of a regulated cryptocurrency exchange in Dubai. The exchange has
received a Virtual Asset Service Provider (VASP) license from the Dubai Virtual
Assets Regulatory Authority (VARA).
The license
allows Backpack Exchange to operate in Dubai and sets a standard for
transparency in the digital asset space. The exchange aims to provide a
seamless transition for users from fiat to on-chain applications, incorporating
advanced technologies like zero-knowledge proof of reserves and Multi-Party
Computation for custody.
XS.com Appoints New Senior
Customer Support Manager
XS.com, a
global FinTech and financial services provider, has announced the appointment
of Pavlina Zinonos as their new Senior Customer Support Manager. Zinonos brings
over 15 years of industry experience to the role and is known for her
consistent performance.
“I’m thrilled to be a part of the XS Group,
an organization that shares my values of transparency and excellence in
customer support,” Zinonos commented. “I see a strong alignment between my personal values and
XS.com’s mission to provide exceptional service and support to our clients. I
look forward to working closely with the team and contributing to the company’s
commitment to delivering outstanding customer experiences.”
She will
lead a team of professionals in delivering top-notch customer support. Her
appointment aligns with XS.com’s mission to provide exceptional service and
support to its clients.
Scope Markets Expands
Asset Offerings
Scope
Markets, a global securities broker, has expanded its range of tradable assets
in response to customer demands. The company has added over 100 new CFDs,
including American Depositary Receipts and ETFs from Japan and Hong Kong.
“As a business, we’re always eager to respond to
evolving customer needs, which underlines our ‘can-do’ approach as a business,”
Pavel Spirin, the CEO of Scope Markets, commented.
“Partners
will frequently ask us to help them find a solution to access exotic markets or
asset classes, which drives these product additions, that we, in turn, are
happy to make available to our global customer base.”
FCA Takes Action on
Buy-Now-Pay-Later Contracts
The
Financial Conduct Authority (FCA) has made changes to contract terms for
buy-now-pay-later (BNPL) firms, following research that shows a significant
increase in the use of BNPL products.
The FCA’s
Financial Lives research revealed that 27% of UK adults have used BNPL services
at least once in the past six months, and frequent users are more likely to be
in financial difficulty.
Moomoo Singapore Adopts
Nasdaq Trade Surveillance Solutions
Moomoo
Singapore, a digital brokerage and wealth management platform, is partnering
with Nasdaq to enhance its market surveillance capabilities. The move aims to
promote fair trading practices and maintain a secure trading environment.
Nasdaq’s
surveillance technology will enable Moomoo Singapore to better protect their
investors and meet regulatory obligations.
SFC Consults on
Uncertificated Securities Market
The
Securities and Futures Commission (SFC) has launched another consultation on
implementing an uncertificated securities market in Hong Kong. The consultation
invites views on proposed amendments to various codes and guidelines, and
follows an earlier consultation in March 2023. The SFC aims to gather feedback
by 15 December.
Court of Final Appeal
Dismisses Appeal in Market Manipulation Case
The Court
of Final Appeal has dismissed an appeal by a group of defendants suspected of
market manipulation. The SFC brought the case and involves alleged false
trading that generated around $124.9 million in illicit profits. The court’s
decision affirms the SFC’s jurisdiction over persons engaging in market
manipulation, regardless of their location.
FCA Joins Project Guardian
for Digital Innovation
The FCA is
partnering with global regulators as part of Project Guardian. This initiative
aims to explore the benefits, challenges, and commercial use cases of asset and
fund tokenization. The FCA sees significant potential in the use of distributed
ledger technology to drive innovation in the UK’s asset management sector.
ASIC Highlights Concerns
in Reportable Situations Regime
The
Australian Securities and Investments Commission (ASIC) has released its second
publication on the reportable situations regime. The report shows little
improvement in key areas of concern and indicates that some licensees may not
be complying with the regime. ASIC plans to take stronger regulatory action to
improve compliance.
“The
reportable situations regime has now been in place for over two years, and
licensees have had ample time to take the necessary steps to ensure full
compliance with the requirements,” said ASIC Chairman Joseph Longo.
NFA Fines Oscar Gruss
& Son Inc.
The
National Futures Association (NFA) has ordered Oscar Gruss & Son Inc., a
New York-based introducing broker, to pay a $140,000 fine for failing to comply
with communication recordkeeping obligations and other violations. The decision
is based on a complaint issued by NFA’s Business Conduct Committee.
Travelex Celebrates 20
Years in Japan
Foreign
exchange brand Travelex is celebrating its 20th anniversary in Japan. The
company has expanded its network to over 70 retail stores across the country
and has introduced several digital products to the Japanese market. Travelex
aims to open its 100th store in the coming years.
MFA Urges FCA and PRA to
Eliminate Redundant Regulations
The Managed
Funds Association (MFA) has encouraged the UK FCA and the UK Prudential
Regulatory Authority (PRA) to eliminate redundant securitisation regulations.
The MFA argues that removing these regulations will optimize risk management
and increase capital investment in the UK.
Backpack Exchange Receives
VASP License in Dubai
Backpack,
the company behind the web3 wallet and Mad Lads NFT collection, has announced
the launch of a regulated cryptocurrency exchange in Dubai. The exchange has
received a Virtual Asset Service Provider (VASP) license from the Dubai Virtual
Assets Regulatory Authority (VARA).
The license
allows Backpack Exchange to operate in Dubai and sets a standard for
transparency in the digital asset space. The exchange aims to provide a
seamless transition for users from fiat to on-chain applications, incorporating
advanced technologies like zero-knowledge proof of reserves and Multi-Party
Computation for custody.
