Exclusive: Vantage FX Parts Ways with Atom8 Founder David Andrews
- The move comes five months after the deal between the companies was brought to a close.
Vantage Global Prime has parted ways with the founder of Atom8, David Andrews. The move comes only five months after the deal between the companies. Vantage has appointed Ulric Ojeer to a senior compliance role following the termination of David Andrews.
The Australian brokerage Vantage Global Prime acquired the FCA-regulated Atom8 in October 2017. The firm was founded by David Andrews in 2012 and acquired official authorization from the UK regulator in 2013.
Following the acquisition, the brand was retained and Vantage Global Prime group was rebranded to Vantage Global Prime UK. Vantage Global Prime, which is the Australian-regulated entity of Vantage Group, made the move as part of its global expansion.
As the regulatory reshape in Europe is taking shape, brokers are facing a difficult transition in their business. The firms that are operating in the market have been broadly pressured after the regulatory crackdown on part of ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term and the FCA.
Smaller Firms Likely to Face More Difficulties
The smaller companies in the industry are distinctly facing more hurdles when it comes to adhering to the regulatory environment that they are operating in. The Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs market is getting even more difficult as smaller brokers will need to adjust not only to the new regulatory framework but also to the changes to advertising that Google announced earlier this week.
Atom8 has been a relatively small player in the market with the latest available UK Companies House filing showing that the firm’s assets as of the end of June 2016 amounted to £418,000 GBP ($553,000).
As Finance Magnates has recently reported, smaller brokers operating in the UK, holding a variable permit license for transmitting orders via a third party, might need to upgrade their licenses in order to comply with the new regulatory framework.
Before founding Atom8, David Andrews spent considerable time as a lawyer at JPMorgan.
Vantage Global Prime has parted ways with the founder of Atom8, David Andrews. The move comes only five months after the deal between the companies. Vantage has appointed Ulric Ojeer to a senior compliance role following the termination of David Andrews.
The Australian brokerage Vantage Global Prime acquired the FCA-regulated Atom8 in October 2017. The firm was founded by David Andrews in 2012 and acquired official authorization from the UK regulator in 2013.
Following the acquisition, the brand was retained and Vantage Global Prime group was rebranded to Vantage Global Prime UK. Vantage Global Prime, which is the Australian-regulated entity of Vantage Group, made the move as part of its global expansion.
As the regulatory reshape in Europe is taking shape, brokers are facing a difficult transition in their business. The firms that are operating in the market have been broadly pressured after the regulatory crackdown on part of ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term and the FCA.
Smaller Firms Likely to Face More Difficulties
The smaller companies in the industry are distinctly facing more hurdles when it comes to adhering to the regulatory environment that they are operating in. The Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs market is getting even more difficult as smaller brokers will need to adjust not only to the new regulatory framework but also to the changes to advertising that Google announced earlier this week.
Atom8 has been a relatively small player in the market with the latest available UK Companies House filing showing that the firm’s assets as of the end of June 2016 amounted to £418,000 GBP ($553,000).
As Finance Magnates has recently reported, smaller brokers operating in the UK, holding a variable permit license for transmitting orders via a third party, might need to upgrade their licenses in order to comply with the new regulatory framework.
Before founding Atom8, David Andrews spent considerable time as a lawyer at JPMorgan.