Also, SoFi to pay FINRA fine; KPMG explores merger of the UK and Swiss businesses.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
CySEC Imposes Fines for
Non-Compliance with AML Laws
The Cyprus
Securities and Exchange Commission (CySEC) imposed fines on three companies
today (Thursday) for non-compliance with anti-money laundering and terrorist
financing laws. Egard Management Ltd faced the highest fine among the three,
amounting to €4,000,
Dr. George Theocharides, Chair at CySEC
This
decision, made by CySEC's Board was due to Egard Management's failure to
comply with several key sections of the Prevention and Suppression of Money
Laundering and Terrorist Financing Law.
Enter
Winglobe Management Ltd was fined a total of €1,500. Similarly, Apollo (Cyprus)
Limited was fined €1,500 for failing to comply with the same sections as Egard
and Enter Winglobe.
CySEC's actions
against these companies remind all firms operating in Cyprus's financial sector
to adhere strictly to legal requirements to avoid similar penalties.
SoFi Securities Accepts
FINRA Sanctions
SoFi
Securities LLC, a FINRA member since 2011, recently faced allegations from
FINRA for failing to establish adequate supervisory systems and making
misleading statements to customers. The company, known for offering
commission-free trading through its mobile app and website, was found to have
violated several FINRA rules, particularly in its fully paid securities lending
business.
Between
January 2019 and March 2023, SoFi did not have a proper supervisory system in
place, resulting in automatic enrollment of over two million customers into its
fully paid securities lending program without proper consent or transparency.
Additionally, SoFi distributed documents containing false information about the
compensation for customers participating in this program.
SoFi has
agreed to a settlement with FINRA, including a censure, a $500,000 fine, and
restitution of over $198,000.
Malaysia's Securities
Commission Updates Investor Alert List
The
Securities Commission Malaysia has refreshed its investor alert list. This list
serves as a cautionary guide for investors, highlighting unauthorized websites,
investment products, companies, and individuals. The recent update includes the
addition of Batu Kawan Bhd and UAG Markets as potential clone entities.
The list on
the Securities Commission's website is regularly updated and is not exhaustive.
The Commission encourages public vigilance and reporting of suspicious capital
market activities.
Nasdaq Appoints European
Market Services President
Roland Chai
has been appointed as the President of European Market Services at Nasdaq,
effective 1 January 2024. He will oversee multi-asset trading, clearing,
listings, and market services across various European stock exchanges.
Nasdaq's
European markets play a pivotal role in innovation, economic growth, and
prosperity in the Nordic and Baltic regions. With a commitment to technology
leadership and sustainability, Nasdaq is a key player in the development of
efficient and transparent capital markets.
SFC Publishes Quarterly
Report
The
Securities and Futures Commission's (SFC) Quarterly Report showcases robust
growth in exchange-traded funds (ETFs) and the number of open-ended fund
companies in Hong Kong. ETFs saw significant net inflows and increased average
daily turnover.
The SFC
reported on various initiatives, including enhancements to Stock Connect and
Wealth Management Connect, efforts to improve market liquidity, and the
issuance of new corporate licenses. The report further highlights the SFC's focus
on virtual asset trading platforms and its steps to reinforce market resilience
and manage risks.
KPMG Explores Merger of The UK
and Swiss Businesses
KPMG, one
of the “big four” accounting firms, is considering merging its UK and Swiss
businesses. This move is aimed at fostering growth, profitability, and
sustainability.
The merger
would combine the resources of KPMG's UK and Swiss units, aligning
approximately 19,600 employees. This strategic move follows job cuts in KPMG's
UK deal advisory business.
Royal Bank of Canada Fined
for AML Violations
Bloomberg
FINTRAC has
fined the Royal Bank of Canada (RBC) over $7.5 million for non-compliance with
anti-money laundering regulations. The violations include failing to report
suspicious transactions, inadequacies in transaction reports, and outdated
policies.
The penalty
emphasizes the importance of adhering to anti-money laundering and
anti-terrorist financing regulations. RBC is expected to enhance its compliance
measures in response.
FintechOS Announces Major
Update
FintechOS
has unveiled FintechOS 24, a significant update to its fintech enablement
platform. This version introduces a generative AI-enabled product designer for
streamlined development of financial products.
The update
aims to simplify and accelerate the creation and management of banking and
insurance products, especially for companies facing rapid industry changes and
competition.
CLS Welcomes Taipei Fubon
Bank to CLSNet
Taipei
Fubon Bank became the first Taiwanese bank to join CLSNet, CLS’s bilateral
payment netting calculation service. This addition to the CLSNet community,
which includes top global banks, marks a significant step for CLS in expanding
its services in the Asia Pacific region.
CLSNet
provides a platform for standardization and automation, reducing risks and
operational costs in foreign exchange markets. Taipei Fubon Bank's
participation will enhance its post-trade processes and contribute to market
stability and efficiency.
CySEC Imposes Fines for
Non-Compliance with AML Laws
The Cyprus
Securities and Exchange Commission (CySEC) imposed fines on three companies
today (Thursday) for non-compliance with anti-money laundering and terrorist
financing laws. Egard Management Ltd faced the highest fine among the three,
amounting to €4,000,
Dr. George Theocharides, Chair at CySEC
This
decision, made by CySEC's Board was due to Egard Management's failure to
comply with several key sections of the Prevention and Suppression of Money
Laundering and Terrorist Financing Law.
Enter
Winglobe Management Ltd was fined a total of €1,500. Similarly, Apollo (Cyprus)
Limited was fined €1,500 for failing to comply with the same sections as Egard
and Enter Winglobe.
CySEC's actions
against these companies remind all firms operating in Cyprus's financial sector
to adhere strictly to legal requirements to avoid similar penalties.
SoFi Securities Accepts
FINRA Sanctions
SoFi
Securities LLC, a FINRA member since 2011, recently faced allegations from
FINRA for failing to establish adequate supervisory systems and making
misleading statements to customers. The company, known for offering
commission-free trading through its mobile app and website, was found to have
violated several FINRA rules, particularly in its fully paid securities lending
business.
Between
January 2019 and March 2023, SoFi did not have a proper supervisory system in
place, resulting in automatic enrollment of over two million customers into its
fully paid securities lending program without proper consent or transparency.
Additionally, SoFi distributed documents containing false information about the
compensation for customers participating in this program.
SoFi has
agreed to a settlement with FINRA, including a censure, a $500,000 fine, and
restitution of over $198,000.
Malaysia's Securities
Commission Updates Investor Alert List
The
Securities Commission Malaysia has refreshed its investor alert list. This list
serves as a cautionary guide for investors, highlighting unauthorized websites,
investment products, companies, and individuals. The recent update includes the
addition of Batu Kawan Bhd and UAG Markets as potential clone entities.
The list on
the Securities Commission's website is regularly updated and is not exhaustive.
The Commission encourages public vigilance and reporting of suspicious capital
market activities.
Nasdaq Appoints European
Market Services President
Roland Chai
has been appointed as the President of European Market Services at Nasdaq,
effective 1 January 2024. He will oversee multi-asset trading, clearing,
listings, and market services across various European stock exchanges.
Nasdaq's
European markets play a pivotal role in innovation, economic growth, and
prosperity in the Nordic and Baltic regions. With a commitment to technology
leadership and sustainability, Nasdaq is a key player in the development of
efficient and transparent capital markets.
SFC Publishes Quarterly
Report
The
Securities and Futures Commission's (SFC) Quarterly Report showcases robust
growth in exchange-traded funds (ETFs) and the number of open-ended fund
companies in Hong Kong. ETFs saw significant net inflows and increased average
daily turnover.
The SFC
reported on various initiatives, including enhancements to Stock Connect and
Wealth Management Connect, efforts to improve market liquidity, and the
issuance of new corporate licenses. The report further highlights the SFC's focus
on virtual asset trading platforms and its steps to reinforce market resilience
and manage risks.
KPMG Explores Merger of The UK
and Swiss Businesses
KPMG, one
of the “big four” accounting firms, is considering merging its UK and Swiss
businesses. This move is aimed at fostering growth, profitability, and
sustainability.
The merger
would combine the resources of KPMG's UK and Swiss units, aligning
approximately 19,600 employees. This strategic move follows job cuts in KPMG's
UK deal advisory business.
Royal Bank of Canada Fined
for AML Violations
Bloomberg
FINTRAC has
fined the Royal Bank of Canada (RBC) over $7.5 million for non-compliance with
anti-money laundering regulations. The violations include failing to report
suspicious transactions, inadequacies in transaction reports, and outdated
policies.
The penalty
emphasizes the importance of adhering to anti-money laundering and
anti-terrorist financing regulations. RBC is expected to enhance its compliance
measures in response.
FintechOS Announces Major
Update
FintechOS
has unveiled FintechOS 24, a significant update to its fintech enablement
platform. This version introduces a generative AI-enabled product designer for
streamlined development of financial products.
The update
aims to simplify and accelerate the creation and management of banking and
insurance products, especially for companies facing rapid industry changes and
competition.
CLS Welcomes Taipei Fubon
Bank to CLSNet
Taipei
Fubon Bank became the first Taiwanese bank to join CLSNet, CLS’s bilateral
payment netting calculation service. This addition to the CLSNet community,
which includes top global banks, marks a significant step for CLS in expanding
its services in the Asia Pacific region.
CLSNet
provides a platform for standardization and automation, reducing risks and
operational costs in foreign exchange markets. Taipei Fubon Bank's
participation will enhance its post-trade processes and contribute to market
stability and efficiency.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
