regulation
CFTC Levies $9.6 Million Fine against Anthony Lauria, Gold Coast Bullion
- CFTC orders Florida Resident Anthony Lauria and his company, Gold Coast Bullion, Inc., to pay more than $9.6 million in restitution and a civil monetary penalty in off-exchange precious metals fraud.
Monday, 26/01/2015 | 22:01 GMT by
Jeff Patterson
CySEC Reports 24 Brokers Incur Losses of $47.9 Million Following Swiss Tempest
- The SNB fallout has reverberated throughout the FX industry, and following an earlier CySEC call to CIFs, 24 firms were found to have experienced $47.9 million (€42.5 million) in losses.
Monday, 26/01/2015 | 20:21 GMT by
Jeff Patterson
US Watchdog Enforces Higher Margins on FX Crosses, 3% on JPY & AUD
- Retail FX brokers in the USA will be adhering to regulatory requirements to increase margin values on certain major and exotic financial instruments. The move comes amid heightened volatility in global markets.
Saturday, 24/01/2015 | 00:39 GMT by
Adil Siddiqui
FX Options Scam Charged by US Court - $2.16 Million Penalty and Trading Ban
- A US court has issued a charge against two individuals and a company for misdoings. The two were charged $2.16 million for FX derivatives fraud and handed down a permanent trading ban.
Wednesday, 21/01/2015 | 23:24 GMT by
Adil Siddiqui
Breaking: NFA Raises Margin Requirements for Swiss Franc, Swedish Krona and Norwegian Krone
Wednesday, 21/01/2015 | 23:11 GMT by
Ron Finberg
CFTC Commissioner Firmly Supports Enhancing Retail Forex Regulation
- Amid the news of clients and brokers losing funds during the recent CHF event, regulatory changes are expected as the OTC nature of forex trading is being questioned. These are Sharon Bowen's views.
Wednesday, 21/01/2015 | 19:59 GMT by
Adil Siddiqui
FCA Sheds Light on Alpari UK Administration with Response to Key Questions
- The FCA has issued its first official note on the Alpari UK administration, the regulator confirmed the event and outlined what the current status of affairs are, it also informed affected traders of what to expect in relation to their funds.
Tuesday, 20/01/2015 | 19:13 GMT by
Adil Siddiqui
FCA Visits Brokers Inspecting Swiss Debacle Impact on Client Assets
- UK FIRMS in the forex space have been in direct contact with the UK regulator in reference to client money rules and regulations, Forex Magnates has learned. Firms are being questioned on their CASS Resolution Pack.
Tuesday, 20/01/2015 | 18:22 GMT by
Finance Magnates Staff
FinFX Will No Longer Offer Brokerage Services to American Citizens
- FinFX has informed clients that it will cease its offering to US residents. The move comes after US rules prohibit overseas firms that are not authorised by domestic regulators to deal with US clients. Clients were informed by email.
Tuesday, 20/01/2015 | 17:09 GMT by
Avi Mizrahi
FCA Urgently Reviews Forex Brokers' Business amid CHF Upheaval
- Alpari UK has issued an insolvency announcement that it has since revoked, and the matter made top headlines in the UK with the broker being a sponsor of England’s famous West Ham United football club.
Sunday, 18/01/2015 | 10:51 GMT by
Avi Mizrahi
CySEC Issues Call to Cyprus Investment Firms for Assessment of Client Funds
- The collective dust is still setting following the turmoil instigated by the SNB earlier this week, prompting the Cyprus Securities and Exchange Commission (CySEC) to urge an assessment of Cyprus Investment Firms.
Saturday, 17/01/2015 | 11:37 GMT by
Jeff Patterson
Is Copy Trading Constituting Portfolio Management?
- If you were wondering what permissions you will need within your FCA license to be able to provide copy trading, the UK Financial Conduct Authority has recently issued a guidance explaining just that.
Wednesday, 14/01/2015 | 17:01 GMT by
Victor Golovtchenko
CFTC Warns Court against Granting Investor Protections to FX Traders
- The American Commodity Futures Trading Commission (CFTC) came out in court against a hedge fund’s demand for priority repayment from Lehman Brothers of its OTC FX trading under the Securities Investor Protection Act.
Tuesday, 13/01/2015 | 13:41 GMT by
Avi Mizrahi
Canadian Dollar's Rapid Decline Prompts Trading Margin Requirement Hike in Canada
- The Canadian self-regulatory organization IIROC, has issued an announcement about a pending increase in margin requirements on some foreign exchange pairs affected by the recent slump in oil prices.
Tuesday, 13/01/2015 | 10:54 GMT by
Victor Golovtchenko
Allied Markets LLC Charged by CFTC for $1 Million Forex Ponzi Scheme
- A court order has mandated all of the assets of allegedly fraudulent commodity pool operator, Allied Markets LLC, to be frozen and charged the firm and its principals Joshua Gilliland and Chawalit Wongkhiao.
Tuesday, 13/01/2015 | 08:33 GMT by
Victor Golovtchenko
FCA Drops Legal Hammer, Convicts FX Fraudsters, Alex Hope & Raj Von Badlo
- The ongoing legal saga between the FCA and Alex Hope has finally come to a finality, culminating in a guilty count of fraud after Hope had hoodwinked investors out $9.4 million of client funds.
Friday, 09/01/2015 | 16:12 GMT by
Jeff Patterson
itBit's Antony Lewis Weighs in on Challenges for Bitcoin in 2015
Friday, 09/01/2015 | 13:30 GMT by
Leon Pick
Hong Kong Court Takes Strong Action against Suspected Boiler Rooms - Freezing $4.3 Million
- The court's interim orders will remain in force until the hearing of the SFC’s application for final orders against all of the parties, the date of which has yet to be fixed. The Hong Kong watchdog's investigation is continuing.
Wednesday, 07/01/2015 | 11:49 GMT by
Avi Mizrahi
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
JPMorgan Reaches Settlement with US Regulators for FX Manipulation
- JPMorgan Chase & Co’s long-awaited regulatory finality has come to a close having settled a US antitrust lawsuit for rigging foreign exchange that is estimated at less than $1 billion.
Monday, 05/01/2015 | 21:17 GMT by
Jeff Patterson
Taming the Jungle, Israeli Forex Lobby Head Vows High Industry Ethics
- The newly elected Itzik Noy sets ambitious goals for the Trading Arenas Association, asserting that with the upcoming regulation it is poised to attract institutional clients: “We’ll stop the demonization of forex.”
Sunday, 04/01/2015 | 10:21 GMT by
Avi Mizrahi
FXGL Capital Exposed by FCA for Offering Unauthorized Forex Trading
- The broker is boasting to be regulated by “FSA England”, however it never held a regulatory license with the former U.K. watchdog, nor it has been authorized by any other EU regulator to offer forex trading.
Friday, 02/01/2015 | 18:39 GMT by
Victor Golovtchenko
7 Reasons to Be Optimistic about the Forex Industry in 2015
- After bemoaning last year's woes, Forex Magnates editors leave room for hope in 2015 with some promising prospects for the industry: cloud-based trading, market correction and the shifting landscape of regulation.
Thursday, 01/01/2015 | 16:15 GMT by
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