fca
FCA Triggers Penalties On Five Banks With £1.1 Billion Fine Whilst Saving a Bullet for Barclays
- The british regulator's arduous year-long forex rigging investigation has concluded with fines for Citibank, HSBC, JP Morgan, RBS and UBS for "undermining confidence in the UK financial system."
Wednesday, 12/11/2014 | 07:41 GMT by
George Tchetvertakov
Tullett Prebon Plc Revenues Drop YoY, Reports FCA Investigation over Wash Trades
- Tullett Prebon plc released its Interim Management Statement in relation to the period from 1 July of 2014, outlining its performance and detailing the progress of the firm’s cost optimization efforts.
Friday, 07/11/2014 | 10:30 GMT by
Victor Golovtchenko
RBS Preps for FX Settlement Charges with $639Mln Allocation, Company Stock Falls
- Several of the financial industry’s leading banks have been engulfed in an ongoing probe alleging FX manipulation – in anticipation of impending regulatory actions, RBS has allocated $639 million for potential settlements.
Monday, 03/11/2014 | 18:28 GMT by
Jeff Patterson
HSBC Sets Aside $378 Million for Its Part in the Expected Forex Manipulation Fines
- In addition to the forex investigation prohibition the global banking group has set aside a total of $1.7 billion of provisions for various legal and regulatory penalties it might face which hurt its Q3 bottom line.
Monday, 03/11/2014 | 13:59 GMT by
Avi Mizrahi
They Just Keep Coming! British Financial Watchdog Warns of Three More Forex Clone Scams
- Like with many clones before, the sites seem to primarily target Chinese speakers. Today's batch are of higher quality as far as graphics are concerned showing an improvement in the skills fraudsters imploy.
Thursday, 30/10/2014 | 15:46 GMT by
Avi Mizrahi
As the Forex Manipulation Resolution Approaches, Barclays Sets aside £500 Million for Fines
- Barclays Chief Executive Officer Antony Jenkins has also said he is trying to improve profitability and stop any possible wrongdoing by cutting the size of the investment bank and closing underperforming departments.
Thursday, 30/10/2014 | 10:22 GMT by
Avi Mizrahi
Social Trading Portal Raises $260K in Seed Funding From Quantic’s Brokerage AFX Capital
- Quantic Asset Management & AFX Capital have joined the social trading phenomena by investing in TopTradr, the professional trading platform has raised $260,000 in seed capital as it aims to strengthen its business.
Thursday, 16/10/2014 | 18:02 GMT by
Adil Siddiqui
Exclusive: Japanese Nissan Century Securities Aims to Become a Global Liquidity Provider
- According to information exclusively obtained by Forex Magnates Japan, after rolling out their open API for FIX, Java and Connect Now, the Japanese brokerage has plans to become a liquidity provider.
Thursday, 16/10/2014 | 10:50 GMT by
Victor Golovtchenko
FCA Issues Warning Against 'B2S Forex' and Encourages Investors to Avoid Unregulated Entities
- The FCA issues a new warning against another start-up FX broker operating without a license. This time, the perpetrator is not camouflaged in the City of London, but rather a leafy village in Leicestershire.
Monday, 13/10/2014 | 06:06 GMT by
George Tchetvertakov
Exclusive: Bulgarian FX Broker Trading 212 Aka Avus Capital Lands UK Authorization
- Avus Capital, a Bulgarian-origin multi-asset brokerage firm has extended its global network by setting-up a UK regulated firm. The broker that operates Trading 212 is authorised by the Financial Conduct Authority.
Friday, 10/10/2014 | 17:56 GMT by
Adil Siddiqui
After Spot FX, All FX Derivatives Are About to Get Exempted from MiFID Reporting
- The ESMA will have to wait until 2017 to get a universal definition about what constitutes an FX derivative. Even then there is no clarity about how will a consensus decision be reached, as UK opposition continues.
Friday, 10/10/2014 | 13:07 GMT by
Victor Golovtchenko
Lloyds Axes Eight Employees, Slashes Bonuses as Libor Wounds Remain Fresh
- The Libor specter has once again returned to Lloyds Banking Group Plc, culminating in the dismissal of eight employees and a dramatic reduction of bonuses after the FCA found that seven managers were guilty of misconduct.
Tuesday, 30/09/2014 | 06:02 GMT by
Jeff Patterson
Breaking: UK to Ditch Gambling Regulation of Binary Options Delegating It to FCA
- The UK government will propose a consultation for regulating binary options as financial products which will remove the binary options financial betting category from the reach of the Gambling Act of 2005.
Monday, 29/09/2014 | 18:42 GMT by
Victor Golovtchenko
Six Banks to Fix Foreign Exchange Fixing Violations Via £1-2 Bln Settlement
- According to a Financial Times report the FCA started settlement negotiations with Barclays, Citigroup, HSBC, JPMorgan Chase, the Royal Bank of Scotland and UBS for foreign exchange fixing manipulation.
Friday, 26/09/2014 | 16:25 GMT by
Victor Golovtchenko
Barclays Caught in Brand New Regulatory Bear Trap Costing £38 Million
- Barclays has again been fined and reprimanded for providing compromised services and failing to adequately protect client funds. Worryingly, the bank "failed to apply the lessons from previous enforcement actions".
Tuesday, 23/09/2014 | 11:24 GMT by
George Tchetvertakov
Shares of Plus500 Ltd Close Down 8% after 'The Times' Report Alleges an FCA Review
- According to the report, the review comes after competitors of the Israeli company raised the issue with the FCA, while the firm stated to the newspaper that it is fully compliant with existing regulatory framework.
Monday, 22/09/2014 | 21:07 GMT by
Victor Golovtchenko
Unmasking MiFID II Challenges: FCA Director of Markets Says Don't Hold Back till 2017
- With 27 months remaining until the second chapter of MiFID is implemented, speaking at the FCA’s MiFID II Conference, Mr David Lawton has outlined the incoming challenges associated with introduction of MiFID II.
Friday, 19/09/2014 | 19:05 GMT by
Victor Golovtchenko
FCA Warns against yet Another Clone Company Using the Details of a Natixis Subsidiary
- UK's regulatory body has issued a warning on its website against a fraudster using the details of EEA Authorized company Dupont Denant Contrepartie S.A, a subsidiary of French investment bank Natixis Securities.
Tuesday, 16/09/2014 | 07:13 GMT by
Victor Golovtchenko
Morgan Stanley Settles to Pay $280,000 to CFTC, Relating to Faults in KYC Procedures
- The regulator also established failures relating to enforcement of imposed trading limits, lack of timely and accurate response to a CFTC document request, and failure to maintain adequate customer records.
Monday, 15/09/2014 | 23:03 GMT by
Victor Golovtchenko
Chinese Forex Broker "Clone Wars" Rampant, Now Targeting Major Investment Banks
- Major investment banks are the latest victims of the "attack of the clones" which is expanding its scope to major financial institutions, seeking to take advantage of inexperienced traders from the Far East.
Saturday, 30/08/2014 | 18:04 GMT by
Victor Golovtchenko
Deutsche Bank London Fined Almost £5 Million for Misreporting CFD Transactions over 5 Years
- Deutsche Bank AG London Branch has been fined £4,718,800 by the British Financial Conduct Authority (FCA) for incorrectly reporting 29,411,494 CFD transactions between November 2007 and April 2013.
Thursday, 28/08/2014 | 11:47 GMT by
Avi Mizrahi
UK Watchdog Warns against a Boiler Room Scam Clone Targeting Asian Traders as LCG
- The British Financial Conduct Authority issues warnings against a Singapore-based clone website pretending to be London Capital Group Asia and about an unauthorised or "independent" firm targeting UK investors.
Thursday, 28/08/2014 | 08:06 GMT by
Avi Mizrahi
ayondo Announces Further Funding from Luminor Capital, CEO Outlines Social Trading
- This is the second round of investment from Luminor Capital, which the ayondo Holding AG is receiving throughout the year, with an earlier tranche from Luminor Capital totaling 5.5 million swiss francs.
Wednesday, 27/08/2014 | 17:20 GMT by
Victor Golovtchenko
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