News Nuggets | 6 September: Zodia Expands into Abu Dhabi; Belgium FSA Issues New Warnings

<p>Zodia Markets Expands into
Abu Dhabi</p><p>Zodia
Markets, a digital asset platform backed by Standard Chartered, has received
In-Principle Approval (IPA) from Abu Dhabi Global Market (<a href="https://www.financemagnates.com/tag/adgm/" target="_blank" rel="follow">ADGM</a>) to operate as
an OTC broker-dealer in virtual assets. </p><p>The
approval allows Zodia Markets to commence regulated activities in the UAE,
which is emerging as a significant hub for digital assets. The move aims to
provide institutional investors in the Middle East and Africa with reliable
access to digital assets, further solidifying Zodia Markets' global presence.</p><p>ADGM
Authority's CEO, Salem Mohammed Al Darei, welcomed Zodia Markets to their
ecosystem, emphasizing the progressive regulatory environment in Abu Dhabi.
Andrew Price and Usman Ahmad, executives at Zodia Markets, also expressed their
enthusiasm for the UAE market's opportunities, particularly its forward-looking
regulatory framework for virtual assets.</p><p>Belgium FSMA Issues New
Warnings</p><p>The
Financial Services and Markets Authority (<a href="https://www.financemagnates.com/tag/fsma/" target="_blank" rel="follow">FSMA</a>) in Belgium has warned against
several new trading platforms, advising the public not to respond to any offers
made by these entities. The list includes platforms like Amos Limited,
Binetrix, and Bitmarket Trader, among others. <a href="https://www.fsma.be/en/warnings/beware-these-new-fraudulent-trading-platforms-1" target="_blank" rel="nofollow">The complete list can be found
here</a>.</p><blockquote><p lang="fr" dir="ltr"><a href="https://twitter.com/hashtag/Warning?src=hash&amp;ref_src=twsrc%5Etfw">#Warning</a> ⚠️ | Attention à ces nouvelles plateformes de trading frauduleuses RT SVPLa FSMA a reçu des plaintes de <a href="https://twitter.com/hashtag/consommateurs?src=hash&amp;ref_src=twsrc%5Etfw">#consommateurs</a> au sujet de nouvelles plateformes frauduleuses de <a href="https://twitter.com/hashtag/trading?src=hash&amp;ref_src=twsrc%5Etfw">#trading</a> <a href="https://twitter.com/hashtag/enligne?src=hash&amp;ref_src=twsrc%5Etfw">#enligne</a> actives sur le marché belge.➡️ <a href="https://t.co/ehpG8lgp8G">https://t.co/ehpG8lgp8G</a><a href="https://twitter.com/hashtag/fraude?src=hash&amp;ref_src=twsrc%5Etfw">#fraude</a> <a href="https://twitter.com/hashtag/escrocs?src=hash&amp;ref_src=twsrc%5Etfw">#escrocs</a> <a href="https://t.co/lh43SC3Vf6">pic.twitter.com/lh43SC3Vf6</a></p>— FSMA (@FSMA_info) <a href="https://twitter.com/FSMA_info/status/1699315920080953783?ref_src=twsrc%5Etfw">September 6, 2023</a></blockquote><p>The warning
aims to protect investors from potential scams and fraudulent activities. The
FSMA strongly advises the public to exercise caution and conduct thorough
research before engaging with any financial service providers.</p><p>Strise Secures $10.8
Million in Series A Funding</p><p>Strise, a
Norwegian anti-<a href="https://www.financemagnates.com/terms/m/money-laundering/">money laundering</a> (<a href="https://www.financemagnates.com/tag/aml/" target="_blank" rel="follow">AML</a>) intelligence software company, has raised
$10.8 million in a Series A <a href="https://www.financemagnates.com/terms/f/funding-round/">funding round</a> led by Atomico. The company, launched
in 2019, has already gained significant traction in the Nordic finance sector,
with 70% of the region's top banks using their services. The new funding will
be used for international expansion, starting with the UK, and to enhance its
AML product offerings.</p><p>Strise's
technology leverages AI to automate AML processes, offering real-time customer
monitoring and comprehensive KYC and KYB checks. The company plans to expand
its customer base across various industries, including financial, insurance,
and legal sectors, aiming to be a leading disruptor in combating financial
crime.</p><p>Finalto Asia Announces New
Head of Sales</p><p><a href="https://www.financemagnates.com/tag/finalto/" target="_blank" rel="follow">Finalto
Asia Pte Ltd</a> has welcomed Ivan Wong as its new Head of Sales for the
Asia-Pacific region. Ivan brings extensive experience and expertise in the
financial industry and is expected to drive sales growth and foster a culture
of innovation and client-centricity at Finalto.</p><p>"Ivan
brings a wealth of experience and expertise in the financial industry,
particularly in the Asia-Pacific region. With his strategic vision and a proven
track record of driving sales growth, he is well-poised to lead our sales
efforts in Asia and help us further our commitment to providing top-tier
financial solutions to our clients," Finalto commented on LinkedIn post.</p><p>FINMA CEO Urban Angehrn
Resigns</p><p>Urban
Angehrn, the CEO of the Swiss Financial Market Supervisory Authority (<a href="https://www.financemagnates.com/tag/finma/" target="_blank" rel="follow">FINMA</a>),
has announced his resignation effective at the end of September 2023. Deputy
CEO Birgit Rutishauser will serve as the interim CEO from 1 October. Angehrn
cited health reasons due to high-stress levels as the cause for his departure.</p><p>During his
tenure, Angehrn successfully navigated FINMA through various challenges,
including the Ukraine war and the Credit Suisse crisis. He expressed gratitude
to his team and the Board of Directors for their support and said his decision
to step down was guided by reason.</p><p>Court Appoints
Administrators for Vantage New Generation Securities</p><p>The
Securities and Futures Commission (<a href="https://www.financemagnates.com/tag/sfc/" target="_blank" rel="follow">SFC</a>) has obtained a court order to appoint Vantage
New Generation Securities Limited (VNGSL) administrators. The administrators,
Chan Pui Sze and Mak Hau Yin, are tasked with managing the property and affairs
of VNGSL and facilitating the return of client properties.</p><p>The
appointment comes after the SFC issued a restriction notice against VNGSL to
preserve client assets. The move aims to protect the public interest and ensure
an orderly and expeditious return of client properties.</p>

This article was written by Finance Magnates Staff at www.financemagnates.com.