Brokerage Author

Colbourne & Company (FRN: 125003) is a sole trader and is authorised and regulated by the FCA. The firm has a range of permissions which include: assisting in administration of insurance arranging deals in investments making arrangements advising (ex Pension Transfers/Opt outs) advising on P2P agreements On 23 June 2022, we placed restrictions on Colbourne …

Colbourne & Company declared in default by Financial Services Compensation Scheme Read More »

Collateral offered peer-to-peer style investments. Its directors were able to fraudulently change details about the firms’ public entry on the FCA’s interim permission register. This change made it look like the firm held interim permission from the FCA to undertake consumer credit activities, which were granted to firms who transferred from the OFT to the …

FCA apologises to Collateral investors Read More »

The FCA has set out plans to simplify the information supplied to investors to boost confidence and drive investment. Under the current rules, introduced across Europe when the UK was in the EU, people buying investments like investment funds are supplied with standardised documents covering prescribed information. In practice these documents were often complex, unclear, …

Rule changes proposed by FCA to boost investment Read More »

The extension will help prevent disorderly, inconsistent and inefficient outcomes for consumers and firms. We have extended the time firms have to respond to complaints about motor finance agreements not involving a discretionary commission arrangement (DCA). Firms now have until after 4 December 2025 to provide a final response to non-DCAs, in line with the …

Firms given until December 2025 to respond to motor finance commission complaints Read More »

Ausfinancial Pty Ltd, trading as Swoosh Finance (Swoosh), allegedly breached its responsible lending obligations when providing credit contracts to 11 consumers, according to civil penalty proceedings filed by ASIC in the Federal Court. ASIC also alleges that Swoosh breached its design and distribution obligations by failing to review its target market determinations and continuing to …

ASIC takes action against Swoosh alleging responsible lending failures and DDO breaches Read More »

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today launched a consultation on draft Technical Standards (RTS) to establish an EU code of conduct (EU CoC) for issuer-sponsored research. The EU CoC sets out standards of independence and objectivity for research providers and specifies procedures and measures for …

ESMA consults on EU code of conduct for issuer-sponsored research Read More »

The FCA has charged John Dance with 9 criminal offences, including multiple counts of fraud and money laundering. John Dance was principal partner at WealthTek LLP (formerly known as Vertus Asset Management LLP (Vertus)), a wealth management firm. Prior to WealthTek obtaining direct authorisation from the FCA in 2020, Vertus operated first as a trading …

FCA charges John Dance with offences related to WealthTek Read More »

Latest research reveals that young investors are making important investment decisions in a matter of hours, rather than taking the time to check out whether the product is right for them in the long-term. A quarter of young investors admit they make investment decisions impulsively to keep up with current trends. £550 is average spend …

FCA finds two-thirds of young investors take less than 24 hours to make investment decisions Read More »

ASIC obtained orders on 21 October 2021 appointing receivers to, and an injunction against, A One Multi Services Pty Ltd (AOMS) which was suspected to be engaging in unlawful activity. The Court appointed receivers John Ross Lindholm and Timothy James Michael (who was subsequently replaced by William Colwell) (Receivers) to manage AOMS and to preserve …

ASIC successfully defends Receivers’ application for indemnity Read More »

More than 500 retail clients of Oztures Trading Pty Ltd, trading as Binance Australia Derivatives (Binance), were denied important consumer protections after being misclassified as wholesale clients, ASIC alleges in documents filed in the Federal Court. ASIC alleges from 7 July 2022 to 21 April 2023, Binance offered crypto derivative products to 505 Australian retail …

ASIC sues crypto company Binance Australia Derivatives for consumer protection failures Read More »