News

PSA bans Xplosion from phone-paid services market for 8 years

Company banned from phone-paid services market, after being issued with three substantial fines for charging consumers without their consent in October 2018 Xplosion Ltd has been issued with a formal reprimand and an 8-year prohibition on any involvement in the phone-paid services market, after failing to pay fines of £250,000, £350,000 and £440,000 issued in separate [...]

February 12th, 2019|Comments Off on PSA bans Xplosion from phone-paid services market for 8 years

Consultation into improvements to the reporting of intangibles launched

Possible improvements to the reporting of factors that are important to a business’ generation of value are discussed in a consultation launched by the Financial Reporting Council (FRC). There are frequent calls to reform the accounting for intangible assets, partly in response to the move to a knowledge-based economy. This paper considers the case for radical change [...]

February 12th, 2019|Comments Off on Consultation into improvements to the reporting of intangibles launched

Fraudster families running multimillion pound pension scams

Organised crime groups led by married couples or families are running pension scams worth millions of pounds. Intelligence gathered by members of the multi-agency Project Bloom group, which was set up to tackle pension scams, indicates that a number of “fraudster families” are targeting pension holders. Criminal investigations involving regulators, government agencies and police forces [...]

February 12th, 2019|Comments Off on Fraudster families running multimillion pound pension scams

PSA bans two companies from phone-paid services market and issues further fines

Five-year prohibitions and fines issued to two companies for failing to comply with Phone-paid Services Authority (PSA) sanctions Global Awareness ltd given five-year ban from phone-paid services market and fined a further £200,000 for failure to comply with original sanctions Halak Online Ltd fined £250,000 and banned from phone-paid services market for five years for similar failure [...]

February 11th, 2019|Comments Off on PSA bans two companies from phone-paid services market and issues further fines

ESMA publishes list of thresholds below which an EU Prospectus is not required

The European Securities and Markets Authority (ESMA) has published a document listing the thresholds below which an offer of securities to the public does not need a prospectus in the various Member States of the European Union (EU). ESMA has drawn up this document to create transparency around the regimes adopted across the EU. The Prospectus Regulation [...]

February 8th, 2019|Comments Off on ESMA publishes list of thresholds below which an EU Prospectus is not required