finma
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
UBS Announces Settlement Talks Over Forex Rate Manipulation
- Despite admissions that large banks colluded to manipulate FX rates, regulators are taking the view that it was only "conduct breaches" among rogue individuals rather than "deliberate manipulation" of the FX market.
Monday, 29/09/2014 | 12:31 GMT by
George Tchetvertakov
IG Group Holdings PLC Details FINMA License, Swiss Bank and Securities Dealer Now Official
- A company spokesperson has confirmed to Forex Magnates reporters that the firm has officially obtained a Swiss foreign-controlled bank and securities dealer license after opening its Swiss office earlier this year.
Friday, 26/09/2014 | 18:48 GMT by
Victor Golovtchenko
FINMA Undergoes Bankruptcy Proceedings against Beleaguered Espirito Santo
- The Swiss Financial Market Supervisory Authority (FINMA) has instigated formal bankruptcy proceedings against Banque Privée Espírito Santo SA, following evaluations that the bank has been over-indebted.
Friday, 19/09/2014 | 11:57 GMT by
Jeff Patterson
Exclusive: French TV Show Exposes Two Binary Options WLs - Royal De Bank & Futurmarket
- Multiple independent sources are confirming to Forex Magnates about an investigative report on French television exposing two binary options white labels targeting French clients - Royal De Bank and Futurmarket.
Thursday, 04/09/2014 | 22:44 GMT by
Victor Golovtchenko
Binary Options from Royal De Bank and Futur Markets Blacklisted by FINMA
- After Luxembourg's local financial authority Commission de Surveillance du Secteur Financier has exposed the companies last month, the Swiss Financial Market Supervisory Authority joins the scrutiny.
Friday, 15/08/2014 | 07:25 GMT by
Victor Golovtchenko
Swissquote Announces Partnership with Switzerland's 5th Largest Retail Bank PostFinance
- Swissquote will leverage its trading platform to the bank's retail customers as the financial services unit of Swiss Post will acquire a 5% equity investment in Swissquote after a capital increase.
Friday, 02/05/2014 | 07:05 GMT by
Victor Golovtchenko
Dukascopy Bank Latest to Give In to Binary Options Allure with Platform Launch
- The latest Binary Options Platform launch comes in the form of a demo account offering by Swiss-based bank Dukascopy, with prices powered from its SWFX centralised-decentralised marketplace, Live accounts to follow.
Friday, 14/02/2014 | 10:07 GMT by
Steven Hatzakis
Swiss Financial Markets Regulator CEO Patrick Raaflaub Resigns Amid Ongoing Forex Probe
- This Swiss Financial Market Supervisory Authority announced its CEO has resigned effective January 31, 2014, in the midst of a global Forex probe, although it cited to Forex Magnates the resignation wasn't related to it.
Wednesday, 15/01/2014 | 18:17 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
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
FX Dealers Hammering Doors Shut to Social-Chat Rooms, UBS Latest to Ban Staff Access
- Some of the largest Foreign Exchange Dealers have recently banned or severely limited certain company staff from social-chat rooms that have been used for years as part of inter-communications systems, that may all change.
Thursday, 28/11/2013 | 15:38 GMT by
Steven Hatzakis
Goldman Sachs & Lloyds Banking Group Drawn Into FX Market Manipulation Investigation
- As financial institutions are still paying billions in fines for the LIBOR and Euribor scandals, a wave of new investigations into FX chat groups "The Cartel" & "The Bandits' Club" is already underway.
Sunday, 10/11/2013 | 17:20 GMT by
Avi Mizrahi
7 Banks Sued Over FX Rates Manipulation; HSBC Latest to Announce Cooperation with Authorities
- A retirement fund from Massachusetts alleges that the international FX manipulation investigation exposes a conspiracy that violates US antitrust laws, hurting the returns on trades and pension plans.
Tuesday, 05/11/2013 | 11:48 GMT by
Avi Mizrahi
Barclays Reports FICC Revenues Down 44% in 3Q 2013, Cooperating with International FX Investigation
- The british banking giant, in an Interim Management Statement reported declines in revenues and profits from the unit that includes its currency business, the bank received enquiries from investigators.
Thursday, 31/10/2013 | 12:53 GMT by
Avi Mizrahi
FINMA FX Probe Taking a Bite Out of UBS, Shares Down 6%
- Shares of UBS are down 6% today after they announced its third quarter earnings results. Despite profit gains, trader reacted to UBS announcing that investigations by FINMA will effect their upcoming earnings.
Tuesday, 29/10/2013 | 12:40 GMT by
Ron Finberg
FINMA Ready to Bark and Bite: Investigates FX Market Manipulation by Swiss Institutions
- The Swiss Financial Market Supervisory Authority investigates Swiss firms for Foreign Exchange rate manipulation. Regulators in other countries join as multiple banks outside the region may be implicated too.
Friday, 04/10/2013 | 21:01 GMT by
Steven Hatzakis
Dukascopy Bank Continues on Global Expansion Plan with Moscow Office Opened
- Dukascopy has named Sergey Borisovitch Arkhipov as head of its newly opened representative office in Moscow, serving increased demand from the CIS region, following the recent opening of a Kiev office.
Wednesday, 02/10/2013 | 16:58 GMT by
Steven Hatzakis
Galaxy to Launch FX MTF
- Galaxy MTF, an organized multilateral trading facility (MTF) for European bonds, has received regulatory approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a foreign exchange in Switzerland, allowing local investors to access Galaxy.
Thursday, 06/10/2011 | 22:07 GMT by
Adil Siddiqui
Swissquote publishes H1 2011 results, forex volume slightly up
- Swissquote, the Swiss Bank which recently acquired ACM, has just published its financial results for the first half year of 2011. The Bank improved in almost all metrics and its forex (what they call eForex) volume is up 5% from the first quarter. Swissquote's average monthly volume is now 35 billion CHF - equal to $42.4 Billion.
Friday, 29/07/2011 | 11:10 GMT by
Michael Greenberg
Dukascopy to close US retail forex traders' positions by July 15th, looking for US partners to offer its technology
Wednesday, 15/06/2011 | 20:54 GMT by
Michael Greenberg
FINMA puts swiss pb in liquidation, second bust Swiss forex brokerage after Crown Forex
Thursday, 09/06/2011 | 09:56 GMT by
Michael Greenberg
MIG explains its execution model, no real news there
Tuesday, 15/02/2011 | 08:08 GMT by
Michael Greenberg
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