Crypto Broker AG granted FINMA securities house licence
Submitted
01/02/2021 - 9:10am
The Crypto Finance Group s brokerage subsidiary, Crypto Broker AG, has been granted a licence as a securities house with a bilateral trading facility by FINMA, the Swiss Financial Market Supervisory Authority.
The licence will allow the Crypto Finance Group to begin offering new products, services, and trading platform features, which will all meet the standards warranted by prudential regulatory oversight.
This significant milestone caps a successful previous year for the group, with the brokerage trading over USD1 billion in assets in 2020 and poised for further growth.
This licence establishes further trust in the Crypto Finance Group: Crypto Broker AG is one of the few crypto brokers worldwide fulfilling the licensing requirements that securities firms active in the established financial markets do. Once effective, the licence also brings new business potential: the possibility to trad
Litigation Release No. 24987 / December 16, 2020
Securities and Exchange Commission v. Luckin Coffee Inc., No. 1:20-cv-10631 (S.D.N.Y. filed Dec. 16, 2020)
The Securities and Exchange Commission today charged China-based company Luckin Coffee Inc. with defrauding investors by materially misstating the company s revenue, expenses, and net operating loss in an effort to falsely appear to achieve rapid growth and increased profitability and to meet the company s earnings estimates. Luckin, whose American Depositary Shares traded on the NASDAQ until July 13, 2020, has agreed to pay a $180 million penalty to resolve the charges.
The SEC s complaint alleges that, from at least April 2019 through January 2020, Luckin intentionally fabricated more than $300 million in retail sales by using related parties to create false sales transactions through three separate purchasing schemes. According to the complaint, certain Luckin employees attempted to conceal the fraud by inflating the compa
Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud Charges
Washington, D.C. (Newsfile Corp. - December 16, 2020) - The Securities and Exchange Commission today charged China-based company Luckin Coffee Inc. with defrauding investors by materially misstating the company s revenue, expenses, and net operating loss in an effort to falsely appear to achieve rapid growth and increased profitability and to meet the company s earnings estimates. Luckin, whose American Depositary Shares traded on Nasdaq until July 13, 2020, has agreed to pay a $180 million penalty to resolve the charges.
The SEC s complaint alleges that, from at least April 2019 through January 2020, Luckin intentionally fabricated more than $300 million in retail sales by using related parties to create false sales transactions through three separate purchasing schemes. According to the complaint, certain Luckin employees attempted to conceal the fraud by inflating the company s expenses by more t
SEC: Luckin Coffee Agrees To Pay $180 Million Penalty To Settle Accounting Fraud Charges Date
16/12/2020
The Securities and Exchange Commission today charged China-based company Luckin Coffee Inc. with defrauding investors by materially misstating the company’s revenue, expenses, and net operating loss in an effort to falsely appear to achieve rapid growth and increased profitability and to meet the company’s earnings estimates. Luckin, whose American Depositary Shares traded on Nasdaq until July 13, 2020, has agreed to pay a $180 million penalty to resolve the charges.
The SEC’s complaint alleges that, from at least April 2019 through January 2020, Luckin intentionally fabricated more than $300 million in retail sales by using related parties to create false sales transactions through three separate purchasing schemes. According to the complaint, certain Luckin employees attempted to conceal the fraud by inflating the company’s expenses by more than $190 million, cr
FOR IMMEDIATE RELEASE Washington D.C., Dec. 16, 2020
The Securities and Exchange Commission today charged China-based company Luckin Coffee Inc. with defrauding investors by materially misstating the company’s revenue, expenses, and net operating loss in an effort to falsely appear to achieve rapid growth and increased profitability and to meet the company’s earnings estimates. Luckin, whose American Depositary Shares traded on Nasdaq until July 13, 2020, has agreed to pay a $180 million penalty to resolve the charges.
The SEC’s complaint alleges that, from at least April 2019 through January 2020, Luckin intentionally fabricated more than $300 million in retail sales by using related parties to create false sales transactions through three separate purchasing schemes. According to the complaint, certain Luckin employees attempted to conceal the fraud by inflating the company’s expenses by more than $190 million, creating a fake operations database, a