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Europe's Economic Crossroads: Recession Fears and S&P Global's
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Will Blockchain Technology Mark a Turning Point in Fraud
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7 Things We Wish Someone Had Told Us Before We Started Trading
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Investing in US Securities? Something is Stalking You …
Thought Leadership
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
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7 Things We Wish Someone Had Told Us Before We Started Trading
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Retail FX
CySEC Slaps €50K Fine on Licensed Firm for Investor Protection Lapses
The regulator fines Fiduserve for failing to provide proper reporting from 2018-2021.
Cypriot market watchdog identified four different breaches in compliance.
Tuesday, 12/03/2024 | 09:18 GMT
by
Damian Chmiel
Institutional FX
ASX Had 8,417 Transperancy Errors. It Cost It $1 Million
ASIC fined ASX $1.05M for failing to provide pre-trade transparency on its platform.
The operator failed to identify incorrect system configurations.
Thursday, 07/03/2024 | 08:00 GMT
by
Damian Chmiel
Retail FX
Ex-Director at LCF Hit with FCA Ban for Misleading Investors
The British market watchdog fined Floris Huisamen £31,800.
His company was accused of presenting misleading financial promotions, causing investor losses.
Tuesday, 13/02/2024 | 10:03 GMT
by
Damian Chmiel
Retail FX
Online Broker Fails to Catch Pump and Dump Schemes, FINRA Finds
It concerns anti-money laundering violations over a period of 6 years.
Monday, 12/02/2024 | 08:42 GMT
by
Damian Chmiel
Retail FX
Westpac's Record $12 Billion Swap Deal Leads to Court Penalty
The bank was fined for 2016's unconscionable conduct in a $12 billion interest rate swap.
Court declares bank's actions in the largest swap transaction in Aussie history unconscionable.
Wednesday, 31/01/2024 | 08:49 GMT
by
Damian Chmiel
Retail FX
Customer Deposit Fiasco Costs HSBC a $73 Million Fine
The UK's PRA fines HSBC for failing to protect customer deposits adequately.
The fine could be higher but was reduced after the bank's active cooperation.
Tuesday, 30/01/2024 | 10:20 GMT
by
Damian Chmiel
Retail FX
Naga Markets Settles with CySEC for €150K over Violations
The company was sanctioned by CySEC for non-compliance in several areas.
The retail brokerage has already paid the settlement amount.
Friday, 29/12/2023 | 13:14 GMT
by
Damian Chmiel
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Retail FX
Too Young to Trade? Fidelity's Age Oversight Costs Firm $900,000
The company neither admitted nor denied its wrongdoings.
However, it took steps to change options trading rules.
Tuesday, 03/10/2023 | 11:36 GMT
by
Damian Chmiel
Retail FX
News Nuggets | 2 October: ADMISI to Pay £6.5M Fine; MetaTrader 5 Presents New Update
Also, Tusk Capital loses regulatory permissions; Tap Global announces US launch.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Monday, 02/10/2023 | 10:04 GMT
by
Finance Magnates Staff
Institutional FX
ANZ Hit with $15 Million Fine for Misleading Almost 200,000 Customers
The federal court orders against ANZ for misleading customers about credit card fees.
Over 186,000 accounts have been remediated, with some customers charged thousands in USD.
Tuesday, 26/09/2023 | 09:03 GMT
by
Damian Chmiel
Institutional FX
The SEC's $25 Million Fine Shakes Deutsche Bank Subsidiary DWS
DWS Investment Management Americas faces a hefty penalty for compliance failure.
The SEC charged the firm for lacking an AML program and making misleading ESG claims.
Monday, 25/09/2023 | 15:16 GMT
by
Damian Chmiel
Retail FX
Wedbush's Recordkeeping Blunders Lead to Multi-Million Dollar Fines by US Watchdogs
Wedbush Securities was fined $6 million for breaching recordkeeping and supervision CFTC rules.
A separate penalty of $10 million was imposed by the SEC.
Wednesday, 09/08/2023 | 06:31 GMT
by
Damian Chmiel
Retail FX
FCA Imposes Fifth Penalty for Cum-Ex Trading, Totaling £20m
Bastion Capital has been fined for serious financial control failings.
This case is the FCA's fifth related to cum-ex trading.
Thursday, 13/07/2023 | 10:20 GMT
by
Damian Chmiel
Retail FX
New Zealand’s FMA Orders Tiger Brokers to Pay $900k for AML/CFT Breaches
The Australian court has fined Tiger Brokers for breaching the AML and CFT law.
The case concerns violations between 2019 and 2020.
Thursday, 29/06/2023 | 07:38 GMT
by
Damian Chmiel
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Institutional FX
FINRA Slaps $900k Penalty on Credit Suisse's US Subsidiary
FINRA has sanctioned the US subsidiary of the Swiss giant.
Accusations included inaccurate trade reports.
Monday, 26/06/2023 | 08:54 GMT
by
Damian Chmiel
Retail FX
CySEC Slams €1M Fine on Itrade Global for Multiple Violations in Spain
The alleged violations were committed by its tied agent in Spain.
Some of them include dishonest practices and failure to prevent conflict of interest.
Thursday, 13/04/2023 | 13:07 GMT
by
Solomon Oladipupo
Retail FX
Regulators Slam $10M Fine on Robinhood for Outages in 2020
NASAA investigated outages on Robinhood in March 2020.
It “found no evidence of willful or fraudulent conduct by Robinhood.”
Thursday, 06/04/2023 | 21:37 GMT
by
Solomon Oladipupo
Institutional FX
Goldman Sachs Fined $3M for Mismarking 60M Short Sale Orders
The mismarking was caused by a coding error.
The global bank agreed to the fine without admitting or denying FINRA findings.
Wednesday, 05/04/2023 | 12:43 GMT
by
Solomon Oladipupo
Institutional FX
ESMA Fines S&P €1.1M for Premature Credit Ratings, Other Breaches
S&P is one of three largest credit rating agencies in the world.
The penalty includes €825k, €210K and €75k fines for alleged CRA regulation violation.
Friday, 24/03/2023 | 13:38 GMT
by
Solomon Oladipupo
Retail FX
FINRA Hits Webull with $3M Fine for Permitting Unqualified Options Traders
FINRA also faulted Webull's supervisory system.
The regulator has fined SageTrader, UBS Securities and others since the start of the year.
Thursday, 09/03/2023 | 21:32 GMT
by
Solomon Oladipupo
Institutional FX
SFC Slaps City International Futures with $100,000 Fine for Regulatory Breaches
The SFC took into account many mitigating factors when imposing the penalty.
However, the regulator wanted to convey that such failures are unacceptable.
Thursday, 09/03/2023 | 10:06 GMT
by
Damian Chmiel
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Retail FX
Polish Court Upholds XTB's $2.2m Fine over Differential Slippage from 2018
The fine was initially imposed five years ago.
XTB appealed the decision in court but to no avail.
Wednesday, 01/03/2023 | 11:56 GMT
by
Damian Chmiel
CryptoCurrency
First Binance and Now Coinbase Have Both Been Fined $3.3m in Netherlands
Coinbase must pay a $3.3 million fine for unauthorized operations in the Dutch market.
Binance paid a similar penalty last year.
Thursday, 26/01/2023 | 09:53 GMT
by
Damian Chmiel
Institutional FX
FINRA Fines Nomura Securites $125k for Miscalculating Its Net Capital
Nomura allegedly misclassified reverse repos with affiliate NSC as allowable assets.
FINRA has recently penalized Wells Fargo, Instinet and DBOT for various violations.
Monday, 16/01/2023 | 17:50 GMT
by
Solomon Oladipupo
Institutional FX
SFC Fines Guosen Securities HK$2.8 Million
The Commission pointed to mitigating factors in its final decision.
Gousen breached the Client Securities Rules.
Wednesday, 21/12/2022 | 10:34 GMT
by
Damian Chmiel
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