简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:James Lewis, former CEO of Shard Capital Partners, has incurred a fine of £120,300 and a ban from the Financial Conduct Authority (FCA) due to regulatory breaches.
James Lewis, former CEO of Shard Capital Partners, has incurred a fine of £120,300 and a ban from the Financial Conduct Authority (FCA) due to regulatory breaches.
This action stems from two separate incidents wherein incorrect information was provided regarding clients' cash purportedly held by Shard, posing risks to the market and investors.
Between June 2015 and May 2017, Mr. Lewis informed auditors that Shard possessed hundreds of millions in cash for a specific client. However, these amounts were actually debts owed by another client within the same group.
Additionally, between June and July 2021, Mr. Lewis furnished misleading information to another client, claiming that Shard held substantial sums on their behalf. Yet, the client's entire cash balance had been transferred out of their account beforehand.
In both cases, Mr. Lewis was aware that the information provided would be used to generate the clients' annual accounts, resulting in misstatements.
Upon the FCA's investigation into the initial incident, Shard discovered the second occurrence and promptly notified the FCA in September 2023. Subsequently, Mr. Lewis also self-reported his actions to the FCA.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The US election sparks forex trading opportunities. Trump's economic policies may increase volatility, offering potential gains for traders.
In the wake of the devastating floods that hit Ternate, XM, a leading online broker has stepped up to provide vital assistance to the affected communities. The company's humanitarian effort is a testament to its commitment to social responsibility and support for those in need.
South Africa’s Financial Sector Conduct Authority (FSCA) has suspended the license of the online trading platform, Banxso.
The Financial Industry Regulatory Authority (FINRA) has imposed significant fines on Investment Network, Inc. (INI) and its CEO, Gary L. Arnold, for a series of regulatory violations connected to the sale of pre-initial public offering (pre-IPO) funds between October 2020 and May 2021.