fca
Is ThinkForex The Next Player to Obtain FCA License?
- While Thinkforex has declined any comment, Forex Magnates believes that the Australian regulated broker is set to receive a UK authorization shortly, with new key hires for the local management team.
Tuesday, 13/01/2015 | 22:35 GMT by
Adil Siddiqui
European Financial Watchdogs Warn against Three More Unlicensed Brokers
- The brokers involved this time are not accused of being a scam or running a fraud but the regulators treat them as such because they are not recognized by them or by any other official body that the regulators have a passporting agreement with.
Tuesday, 06/01/2015 | 15:49 GMT by
Avi Mizrahi
British Bank RBS Issues Year-End FX Probes Update - Investigations in Full Swing
- The ongoing internal investigations at banking giant RBS are at the mercy of six traders who face disciplinary action according to an annual update by the bank,with three of the traders already suspended.
Tuesday, 23/12/2014 | 18:25 GMT by
Adil Siddiqui
FX "Investment Club" JL Trading Disappears along with £130 Million of Clients' Funds
- British police are investigating an alleged fraud over claims about $200 million went missing from an FX investment company as its manager, Joe Lewis, left his office abroad and can no longer be found anywhere.
Sunday, 21/12/2014 | 14:29 GMT by
Avi Mizrahi
Unregulated Forex Brokers, FXN Trade & Net CFD Exposed by UK's FCA
- A duo of unregulated forex and CFD brokers offering their services within the UK without proper authorization while claiming UK registration has been exposed by the British financial markets regulator.
Friday, 19/12/2014 | 17:42 GMT by
Victor Golovtchenko
Millionaire Fund Manager Gets Banned from FCA for Train Fare Manipulation
- UK financial watchdog bars Jonathan Burrows for working with regulated financial products. The fund manager at Black Rock was charged by officers for extensive fare evasion which resulted in the FCA's actions.
Monday, 15/12/2014 | 21:22 GMT by
Adil Siddiqui
UK-Based FCA Restructures Amid Sharper Focus on Regulatory Matters
- The Financial Conduct Authority is to implement a new strategic approach from the fifth of January 2014. New structural changes to be deployed as the FCA shapes its future after a successful 18 months.
Tuesday, 09/12/2014 | 00:49 GMT by
Adil Siddiqui
Fixed Income Trading Platform, Bondcube, Granted FCA Authorization
- The liquidity aggregating bond trading network is aiming to facilitate trading of large tickets and on illiquid markets by providing an alternative solution the the usual buy-side RFQ and sell-side traders.
Friday, 05/12/2014 | 16:48 GMT by
Victor Golovtchenko
Banks Face Judgment Day As FXCM Strengthens US Market Foothold
- This week’s “Best Stories” edition explores the true meaning and possible consequences of the much awaited FX rates manipulation fines, along with interesting findings from CFTC's September retail fx report.
Saturday, 15/11/2014 | 22:01 GMT by
Jeff Patterson
Despite the Regulatory Rigmarole, It’s All Just Business for FX Riggers and the Market Triggers
- The 'Trifecta' of regulatory agencies has missed one thing: front-office bankers are working in a savagely competitive environment founded on a performance-ranked hierarchy that breeds the desire to cheat.
Thursday, 13/11/2014 | 20:49 GMT by
George Tchetvertakov
US OCC Adds $1 Bln to Forex Fines, City & JPMorgan Chase Bills Surpass One Billion
- The U.S. Office of the Comptroller of the Currency announced fines against the Bank of America, Citibank and JPMorgan Chase today totaling to $950 million in relation to “unsafe or unsound practices” related to FX.
Wednesday, 12/11/2014 | 20:01 GMT by
Victor Golovtchenko
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
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