fca
CFTC Charges Melody Nganthuy Phan with Elaborate Forex Scheme Valued at $3.7 Million
- The CFTC has filed civil enforcement charges, among others, against Melody Nganthuy Phan and her congregation of three companies for a fraudulent foreign exchange scheme valued at over $3.7 million.
Thursday, 27/02/2014 | 23:00 GMT by
Jeff Patterson
FXCM UK Announces $16.9 Million Settlement with FCA for Asymmetric Slippage
- Following the reporting of a loss reserve of $15 million in relation to FCA investigation during its Q3 2013 financials report, FXCM has announced that they have reached a $16.9 million settlement with the regulator.
Wednesday, 26/02/2014 | 11:09 GMT by
Ron Finberg
Benjamin Wilson Gets 7 Years Imprisonment For Fraud, Forgery and Deception
- The UK’s FCA has reported that it has issued one of the most lengthiest sentences to a fraudster whose practise cost investors more than £20 million. Benjamin Wilson pleaded guilty as he receives a 7 year prison sentence.
Friday, 14/02/2014 | 20:55 GMT by
Adil Siddiqui
Data on 2,000 Customers Stolen From Barclays, Whistleblower Confirms to News
- Forex Magnates investigates reports by the Mail on Sunday, the UK publication of the Daily Mail, that 2,000 customers' account data had been stolen from Barclays, as shown by a whistleblower to the news publication.
Monday, 10/02/2014 | 20:39 GMT by
Steven Hatzakis
Deutsche Bank Fires 3 NY-Based Traders Amid Global Forex Probe of Rate Manipulation
- The FX dealer has reportedly fired three New York-Based traders including Diego Moraiz, Robert Wallden and Christopher Fahy, reported Reuters citing sources familiar with the firings, as global FX probe unfolds,
Wednesday, 05/02/2014 | 13:04 GMT by
Steven Hatzakis
Alpari UK Exiting from Binary Options, Cites Regulations
- Alpari UK has notified clients that it will no longer be offering binary options trading starting next week. The news comes shortly after they launched the product in September of 2013 using technology from SpotOption.
Wednesday, 05/02/2014 | 10:32 GMT by
Ron Finberg
FCA Heads Inform UK Lawmakers that 10 Banks are Involved in FX Investigation
- The Financial Conduct Authority's CEO and Chairman sat in front of members of UK's parliament to give evidence as witnesses surrounding the Foreign Exchange probe with as many as 10 banks said to have provided evidence.
Tuesday, 04/02/2014 | 20:12 GMT by
Steven Hatzakis
FCA Fines State Street UK £22 Million On Hidden Markups and Overcharging Six Clients
- The Financial Conduct Authority's case shows that from June 2010 to September 2011, undisclosed fees and hidden mark-ups totaled $20,169,603, and associated misconduct from this merited a hefty fine to State Street UK.
Friday, 31/01/2014 | 21:36 GMT by
Steven Hatzakis
Unlawful Poaching Campaign Draws FCA Ban of Former BGC Senior Executive Anthony Verrier
- The FCA has banned Anthony Verrier, a former senior executive at fx brokerage BGC Partners Inc. from participating in financial services for his misconduct following an abrupt exit from Tullet Prebon.
Thursday, 30/01/2014 | 00:10 GMT by
Jeff Patterson
UK's FCA Fines South Africa's Standard Bank Subsidiary £7.6 Million Over AML Failures
- One of Africa's largest banks, with extensive operations in 18 African countries, and in 13 other countries outside of Africa, had its UK subsidiary served a fine by the Financial Conduct Authority over AML failures.
Thursday, 23/01/2014 | 18:15 GMT by
Steven Hatzakis
FCA Outlines Proposed Expenses Levy For Financial Compensation Scheme
- Britain's Financial Conduct Authority has today released a consultation paper proposing that the Management Expenses Levy Limit under its customer compensation scheme should be set at £80 Million
Monday, 20/01/2014 | 21:02 GMT by
Andrew Saks McLeod
Exclusive: FX Licensing Consultancy Launches Technology & Social Trading Solution
- FX licensing company Archer Consultants completes its quest for a turnkey solution with APIFX, a broker-neutral technology solution launched today, as well as a broker and liquidity agnostic social trading network.
Thursday, 16/01/2014 | 14:27 GMT by
Andrew Saks McLeod
Ex-Liquidnet Chief John Barker Appointed BCS Chairman, as UK Arm Gets LSE Membership
- The brokerage boasting 10-15% of market share of volumes on the Moscow Exchange in FX and Securities, has bolstered its UK FCA regulated business, after a new executive chairman and membership on the LSE has been obtained.
Thursday, 16/01/2014 | 12:56 GMT by
Steven Hatzakis
Citi VP of FX Prime Brokerage Michael Mirarchi Joins ATC Brokers Ltd as CEO for UK Launch
- Owners of Avail Trading Corp (ATC) operating in Forex and Futures markets as an IB in the US, had just registered a UK-FCA authorised brokerage last August and recently appointed a new Chief Executive Officer to that entity.
Wednesday, 08/01/2014 | 10:47 GMT by
Steven Hatzakis
Financial Spread Betting Still Hanging in There
- Financial spread betting, a genuine investment product for the UK investor has recently come into the limelight for the wrong reasons, client numbers in decline and the possibility of a chargeable tax. However, it's not all doom and gloom.
Wednesday, 08/01/2014 | 07:48 GMT by
Adil Siddiqui
FCA Update, Full Story Behind January 1st, 2014 Rules, and Clone Website Warnings
- An extensive research by Forex Magnates informs readers of what is new and what is not, regarding recent rules that went into effect for firms authorised and/or registered with the UK's Financial Conduct Authority.
Tuesday, 07/01/2014 | 16:18 GMT by
Steven Hatzakis
Bloomberg Launches Compliance Product to Mitigate Chat Room Risk
- Aiming to provide a solution to compliance worries about multi-dealer chat room conversations, Bloomberg announced that the Compliance Center centralizes the firms existing compliance tools into a single location.
Tuesday, 17/12/2013 | 15:56 GMT by
Ron Finberg
What Do You Get When You Combine Proprietary Trading and Social on Mobile? TopTradr
- This London based proprietary trading firm is completely mobile, and allocates funds to traders based on social, via ranking performance to determine the top trader, Forex Magnates interviews the firms CEO, in today's review.
Wednesday, 11/12/2013 | 20:29 GMT by
Steven Hatzakis
8 Dealers in Derivatives Rigging Scandal Fined a Total of €1.71 Billion by European Commission
- UBS, Citigroup, Barclays, Deutsche Bank, RBS, Société Générale, JPMorgan and RP Martin named in settlement with European Commission in rigging case about Yen and Euro Interest Rate Derivatives, enforced under anti-cartel rules.
Wednesday, 04/12/2013 | 13:56 GMT by
Steven Hatzakis
BCS Promotes Tim Bevan to Board of Directors, and Gareth Johnson as Senior Trader in UK office
- Established in 1995, one of Russia's largest brokers by volume-trading market-share aims to replicate its success as it expands its UK regulated London desk and promotes a new director to its executive board.
Monday, 02/12/2013 | 16:05 GMT by
Steven Hatzakis
Exclusive: FXOpen Launches UK site after Successful Regulation with FCA, Full Story
- With entities regulated in New Zealand, Australia and now the United Kingdom, the latest forex broker to launch a website in the esteemed financial capital of foreign exchange trading speaks with Forex Magnates.
Friday, 15/11/2013 | 13:33 GMT by
Steven Hatzakis
Twin Fines From CFTC and FCA Hit Rabobank, Ordered To Pay $643 Million, CEO to Resign
- Part of an ongoing investigation into LIBOR price manipulations among major global broker’s and banks; the CFTC and FCA have announced the issuing of an Order against Rabobank, requiring them to pay $643 million.
Tuesday, 29/10/2013 | 13:52 GMT by
Ron Finberg
Canadian State Regulator Cautions Investors About YoutradeFX
- Ontario Securities Commission, the financial services regulator for the Ontario has issued a warning against YoutradeFX. The notification comes after the broker solicits Canadian clients without holding the necessary licenses.
Friday, 25/10/2013 | 07:25 GMT by
Adil Siddiqui
Moving To The FXBeat: Jamie Coleman & Gerry Davies Add Charisma To Market News
- FXStreet.com has today launched its news and commentary feed with witty adages, under the designation of FXBeat. The service repackages market information for the benefit of traders and brokers.
Tuesday, 15/10/2013 | 03:03 GMT by
Andrew Saks McLeod
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