menu

Homepage > News > ForexRev: weekly summary [20.09 – 26.09.2021]

ForexRev: weekly summary [20.09 – 26.09.2021]


ASIC warns against pump and dump schemes and prohibits the sale of unsolicited products. The Cyprus Compensation Fund says goodbye to 5 brokers. Allen Stanford’s pyramid syndic announces the recovery of the first billion dollars. The New Trader of the Month reaches 80% efficiency in August. We invite you to a brief overview of last week:

The first billion

A court-appointed the bankruptcy receiver recovered $ 1 billion from Allen Stanford’s financial pyramid, the second largest ponzi scheme in history. Still $ 6.2 billion short, and it took 12 years to collect the first one, it’s a huge success anyway.

Read all: Over $1 billion was recovered from the Stanford Allen Pyramid

ASIC warns of pumps

The Australian Securities and Investments Commission (ASIC) expresses concern over the use of social media to coordinate stock pumping. The regulator reminded that this is punishable by up to 15 years in prison.

Read all: ASIC warns against “pump and dump” campaigns

CySEC removes brokers

The Cyprus Securities and Exchange Commission (CySEC) has published a list of those excluded from the insurance program. It includes brokers OptionRally, Rodeler, Stocks Forex AF, Globia Wealth and Deloitte Investment Services.

Read all: CySEC removes OptionRally and four other brokers from the Compensation Fundly

No unsolicited sale

ASIC has banned retail sales of unsolicited financial products. Thanks to this, investors will be able to control how and when investments are offered to them, without being surprised or selling under pressure.

Read all: ASIC prohibits the sale of unsolicited products

August trader

Ahmed became the new Trader of the Month in the Tickmill competition, who proved to be 80% effective and earned PLN 37,000 in August. dollars. His favorite instrument was the GBP / USD pair and a volume of up to 6 lots.

Read all: Tickmill: trader of the month in August with an 80% success rate

Last week’s warnings:

Go to the full list of ForexRev warnings

Author: Izabela Kamionka

Are you a trader?

Help others and rate your broker! Use the search engine or find your broker on the list.



Ad:
exante baner

Last news:

The UK financial services ombudsman points to a growing number of frauds

The UK financial services ombudsman points to a growing number of frauds

The UK ombudsman for financial services has published annual complaints data for the financial year ...
Read More
Bad data from world markets heralds an impending recession

Bad data from world markets heralds an impending recession

World stock markets fell for the second consecutive day on Wednesday and bond yields plunged ...
Read More
FCA's Executive Director says the number of frauds will continue to increase

FCA warns against remote desktop fraud

UK financial regulator has warned again against desktop sharing scams. As of July 2020, 2,142 ...
Read More
Criminals cheat victims by promising to help them recover their money

Criminals cheat victims by promising to help them recover their money

Australian Scamwatch warns against offers of upfront recovery assistance. These types of scams target people ...
Read More

Add a comment

Your email address will not be published. Required fields are marked *

 

Note: Opinions and posts on ForexRev.com represent personal opinions and views of their respective authors and should not be interpreted as recommendations to purchase or sell securities. ForexRev.org assumes no responsibility or liability for such content.
Go to top