A permanent registration/ trading ban, handed down by a Texas court, to defendant Mark E. Rice, along with $1.5 million in civil penalty's and restitution, as part of a CFTC complaint uncovering a fraudulent Forex scheme.
Scale of Justice: Source CFTC
The CFTC has begun the New Year with a string of new actions, including the latest complaint upheld by a federal court that requires defendant Mark E. Rice from Sugarland, Texas to pay $827,000 in restitution and $673,000 in civil penalties in order to settle CFTC charges related to Forex fraud.
The charges were in connection with alleged fraudulent activities involving foreign Exchange currency contracts, including misappropriation of customer funds to trade leveraged otc forex, and fraudulent solicitation by Mark E. Rice of Financial Robotics Inc., according to the CFTC press release.
The permanent injunction as part of a Consent order stemming from a CFTC complaint filed in 2011 against Rice, and Rice’s company Financial Robotics Inc. (FinRob), entered on January 13th, 2014, by Judge Lee H. Rosenthal in the US District Court for the Southern District of Texas imposes a permanent trading and registration ban against Rice and prohibits him from violating provisions of the CEA, as charged, along with the total $1.5 million in sanctions handed down to Rice.
Judge Rosenthal also presided over the 2011 injunction when the CFTC moved in swiftly to protect the books and freeze assets of Financial Robotics Inc. and Rice. The press release by the CFTC today stated its litigation with Financial Robotics Inc. as ongoing.
Followed 2011 Injunction by CFTC to freeze Financial Robotics Assets
According to the order, from June 2008, Rice operated a fraudulent scheme that solicited approximately $1.7 million from one individual to trade leveraged off-exchange forex contracts, and described how Rice falsely told his customer, among other things, that his investment was “risk free” and insured against loss, and that the return of his principal was guaranteed.
The Order further finds that Rice misappropriated at least $576,000 of his customer’s funds by transferring the money to unrelated Rice-controlled companies and, thereafter, spending at least $404,000 of those funds for Rice’s personal and business expenses.
During the 2011 injunction, the CFTC thanked the National Futures Association (NFA), the British Virgin Islands (BVI) Financial Services Commission (FSC), The Netherlands Authority for the Financial Markets (AFM), and the United Kingdom’s Financial Conduct Authority (FCA) for their assistance.
In the announcement today of the Texas federal court ruling, the CFTC noted that its Division of Enforcement (DOE) staff members responsible for this case were Kevin S. Webb, Michelle S. Bougas, James H. Holl, III, and acting Director of Enforcement, Gretchen L. Lowe.
The CFTC has begun the New Year with a string of new actions, including the latest complaint upheld by a federal court that requires defendant Mark E. Rice from Sugarland, Texas to pay $827,000 in restitution and $673,000 in civil penalties in order to settle CFTC charges related to Forex fraud.
The charges were in connection with alleged fraudulent activities involving foreign Exchange currency contracts, including misappropriation of customer funds to trade leveraged otc forex, and fraudulent solicitation by Mark E. Rice of Financial Robotics Inc., according to the CFTC press release.
The permanent injunction as part of a Consent order stemming from a CFTC complaint filed in 2011 against Rice, and Rice’s company Financial Robotics Inc. (FinRob), entered on January 13th, 2014, by Judge Lee H. Rosenthal in the US District Court for the Southern District of Texas imposes a permanent trading and registration ban against Rice and prohibits him from violating provisions of the CEA, as charged, along with the total $1.5 million in sanctions handed down to Rice.
Judge Rosenthal also presided over the 2011 injunction when the CFTC moved in swiftly to protect the books and freeze assets of Financial Robotics Inc. and Rice. The press release by the CFTC today stated its litigation with Financial Robotics Inc. as ongoing.
Followed 2011 Injunction by CFTC to freeze Financial Robotics Assets
According to the order, from June 2008, Rice operated a fraudulent scheme that solicited approximately $1.7 million from one individual to trade leveraged off-exchange forex contracts, and described how Rice falsely told his customer, among other things, that his investment was “risk free” and insured against loss, and that the return of his principal was guaranteed.
The Order further finds that Rice misappropriated at least $576,000 of his customer’s funds by transferring the money to unrelated Rice-controlled companies and, thereafter, spending at least $404,000 of those funds for Rice’s personal and business expenses.
During the 2011 injunction, the CFTC thanked the National Futures Association (NFA), the British Virgin Islands (BVI) Financial Services Commission (FSC), The Netherlands Authority for the Financial Markets (AFM), and the United Kingdom’s Financial Conduct Authority (FCA) for their assistance.
In the announcement today of the Texas federal court ruling, the CFTC noted that its Division of Enforcement (DOE) staff members responsible for this case were Kevin S. Webb, Michelle S. Bougas, James H. Holl, III, and acting Director of Enforcement, Gretchen L. Lowe.
CMC Markets’ Artur Delijergijevs on Metals Demand, Volatility, & Stable Execution
CMC Markets’ Artur Delijergijevs on Metals Demand, Volatility, & Stable Execution
In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
Delijergijevs offers a desk-level view on:
- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
#CMCmarkets #forex #metals #gold #trading #volatility #MarketMaking #iFXDubai #FinanceMagnates #Finance #Fintech #Execution #AlgorithmicTrading #RiskManagement
In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
Delijergijevs offers a desk-level view on:
- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
#CMCmarkets #forex #metals #gold #trading #volatility #MarketMaking #iFXDubai #FinanceMagnates #Finance #Fintech #Execution #AlgorithmicTrading #RiskManagement
Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
