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Toronto Sun
4 days ago
- Business
- Toronto Sun
International crackdown targets influencers promoting financial products
Nine regulators from Australia, Canada, Hong Kong, Italy, UAE and the UK were involved in the crackdown Published Jun 06, 2025 • 1 minute read The City of London. Photo by Jason Alden / Bloomberg Influencers promoting financial products on social media have been targeted by an international investigation led by the UK's Financial Conduct Authority. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Three people were arrested in the UK, while a further four were invited for interview, the FCA said in a statement Friday. It did not name the individuals, but said it also issued 50 warning notices and seven cease-and-desist letters for promoters operating without authorization. 'Our message to finfluencers is loud and clear. They must act responsibly and only promote financial products where they are authorized to do so or face the consequences,' said Steve Smart, joint executive director of enforcement and market oversight at the FCA. Nine regulators from Australia, Canada, Hong Kong, Italy, United Arab Emirates and the UK were involved in the crackdown, according to the statement. The FCA has been scrutinizing the surge of interest in finance content on social media platforms such as Instagram and TikTok in recent years. Last summer, it brought charges against several reality TV stars and influencers for promoting foreign exchange trading. They have pleaded not guilty and a trial is scheduled for 2027. This advertisement has not loaded yet, but your article continues below. As part of its latest investigation, the FCA has issued 650 take-down requests to social media companies. Those requests can take Meta Platforms Inc. as long as six weeks to action, Lucy Castledine, director of consumer investments at the regulator, told the Treasury select committee in April. Meg Hillier, chair of the committee, wrote to the US technology giant on June 2 asking for clarification on the delays, according to a separate statement from the TSC on Friday. 'There was an isolated incident in late 2024 which resulted in a delay in actioning a small number of reports from the FCA,' Meta said in a statement in response to the Treasury. 'This was rectified and all other relevant reports made by the FCA have been promptly processed.' Sunshine Girls Sunshine Girls Toronto & GTA Toronto & GTA Olympics
Yahoo
11-04-2025
- Politics
- Yahoo
London City Council overrides veto of 2 ordinances
London City Council met in special session Friday afternoon, overriding the mayor's veto of two ordinances that made news earlier in the week. The meeting began with the council approving a municipal road aid agreement in the amount of $177,015.54. The municipal road aid agreement, which is from the state, was funded by a fuel tax. The motion to approve the agreement was made by City Council Member Judd Weaver, with a second by Council Member Justin Young. The agreement received the support of each council member present. Councilperson Holly Little was not in attendance. City Clerk Katelin McPeek passed out copies of the resolution for council members to sign. Council members then additionally agreed to authorize Mayor Randall Weddle to sign the agreement. The council also unanimously voted to override the mayor's veto of two ordinances — Ordinance 2025-01 and Ordinance 2025-02. The vetoes made news earlier this week after City Attorney Larry Bryson questioned the legality of the Mar. 20 special-called meeting at which the first reading of each ordinance was held. During Monday's regular meeting, Bryson advised that council members illegally called a special meeting in violation of KRS 83A.130(11). This statute mandates that special-called meetings must be called either by the mayor or the majority of council members through a written request. The first ordinance requires that all supporting documents for city council agenda items be provided at least seven days before a regular meeting. If documents are submitted late, the items will be tabled unless the council approves the late submission at the meeting. Any ordinances that conflict with Ordinance 2025-01 have consequently been repealed, as the ordinance took effect upon publication. Council Member Kelly Greene made the motion Friday to approve the veto override, which was seconded by Councilperson Stacy Benge. Ordinance 2025-02 established the details of the council's regular meetings, amending Ordinance 2002-05. Under the new ordinance, meetings will be held on the first Monday of each month at 5:30 p.m., or the following day in the case of a conflicting holiday. Meetings will take place at the London Community Center, located at 529 South Main Street, unless otherwise announced. Council Member Benge made the motion to override the veto of the ordinance, receiving a second by Councilperson Weaver. The council's vote brought the meeting to adjournment. To watch the livestream of this meeting, visit The City of London Facebook page. The London City Council will hold their May meeting Monday, May 5, at 5:30 p.m.
CBC
26-02-2025
- General
- CBC
Housing for domestic violence survivors desperately needs funding boost, advocates say
Advocates are calling on Ontario's next government to ramp up affordable and transitional housing for women fleeing domestic violence, and to increase funding for shelters in the interim so they can meet the growing demand. At London's Anova, one of the province's largest shelters, women and children are staying for as long as 72 days because there's no other place for them to go, said executive director Jessie Rodger. "We're having women stay longer because of the lack of affordable housing available to them," Rodger said, adding that lengths of stay at Anova have more than doubled in the last five years. "We always worry that if women have to stay longer in our shelter and their risk decreases but there's still nowhere for them to go after they leave us, their risk could dramatically increase again if they're being forced to go back into a precarious, unsafe living situation." The agency runs two shelters — one in the city's east that has 27 beds, and the other in south London with 40 beds. It also has a separate 25-unit transitional housing facility. Although survivors of domestic violence and human trafficking in Ontario get special priority policy (SPP) status for rent-geared-to-income (RGI) social housing under provincial legislation, the wait lists are so long that what used to take a matter of weeks to get people housed, is now taking months, said Rodger. To qualify for special priority status, applicants must have limited income and have status in Canada. They also must prove they've lived with an abuser within the past three months, or have ongoing risk outside of the three month period, and require a support letter from a qualified professional. Long wait lists limit options, advocates say The City of London said it currently has 129 households with special priority access on its RGI community housing wait list. London-Middlesex Community Housing (LMCH), the city's largest provider of social housing, has about 3,300 units, of which about 100 are currently available. Anova tries to get special priority status status for 75 per cent of women who access its services, but only a third of them are able to get on that list, Rodger said. Safe and stable housing is crucial in helping abuse survivors regain a sense of normalcy in re-stabilizing their lives, said LMCH's CEO Paul Chisholm. "When they're in a shelter, it's really hard to plan what the next month will look like, let alone the next few years. Having access to the RGI housing gives them a platform to start planning forward and building back to where they want to be," he said. WATCH | Why affordable housing is important for domestic violence survivors: How a housing shortage makes it hard for domestic violence survivors to find safe shelter 3 hours ago Duration 2:03 Harmy Mendoza, executive director of WomanAct says challenges with finding safe and affordable housing for survivors of domestic violence is putting more pressure on shelter systems and are forcing women to resort to precarious living arrangements. But while they wait for housing, women are resorting to precarious living arrangements once they leave a shelter, said Harmy Mendoza of WomanAct, a Toronto-based advocacy group. "We probably don't see women and children at the corner of any major intersections but they're actually couch surfing, or trying to find a friend or family member who could help them be safe," she said, referring to these situations as hidden homelessness. "Once the immediate crisis is still unveiling, they soon realize 'I can't can't afford a place to stay on my own.' And that's important because affordability now becomes an important part of being alive or ensuring they're not at risk." Both Rodger and Mendoza believe the housing shortage plays a factor in the growing number of femicides in the province each year. In 2024 alone, there were reports of at least 62 women who were killed by their partners in Ontario. WomanAct wants Ontario to declare intimate partner violence (IPV) an epidemic so there can be more funding directed toward crisis support and prevention efforts. The group is also calling on the next government to establish an independent data collecting mechanism that can help improve education and allow communities to respond. What the major parties are promising NDP: In its platform, the party says it will recognize IPV as an epidemic and direct ministries to coordinate improved access to services for survivors and restore the full Victims Compensation Fund. The party also plans to build 60,000 supportive housing units. Leader Marit Stiles told CBC News at a campaign stop in London on Monday that "we have to inject funding right away into the shelter system and transitional housing, there's no question." Stiles also said it's important to build "truly deeply affordable housing." Progressive Conservatives: The party says it has invested $1.4 billion annually to address and prevent gender-based violence, as well as $247 million to fund emergency shelters, counselling, 24-hour crisis lines, safety planning and transitional housing. "We will continue to support our law enforcement to protect women and support victims," the party said in a statement. Ontario Greens: The party says it will enact the IPV epidemic into law and will increase funding for sexual assault centres, emergency shelters, transitional housing, safe centre hubs and legal supports. In its platform, the party states it will also develop a framework to end violence against women, aligned with the 2007 report by the Ontario Native Women's Association and the Ontario Federation of Indigenous Friendship Centres as mandated by the National Inquiry into Missing and Murdered Indigenous Women and Girls report. Ontario Liberals: A party spokesperson told CBC News in a statement that it's committed to implementing recommendations from the 2022 Renfrew Inquest. "We will ensure survivors receive justice, support, and safe shelter," read the statement in part.
