regulation
CBOE Holdings Enlists Help of FINRA, Brokering New Regulatory Oversight
- One of the largest operators of the US stock options market, CBOE Holdings Inc, will reportedly relinquish its regulatory duties, shifting regulatory duties to the Financial Industry Regulatory Authority (FINRA).
Monday, 22/12/2014 | 20:44 GMT by
Jeff Patterson
Deutsche Bank Securities Settles $3 Million Charges with US Regulator for Several Violations
- CFTC issues financial penalty to Deutsche Bank Securities for breaching a number of guidelines. The CFTC noted that the firm settled charges for violations including improper segregation of client money.
Monday, 22/12/2014 | 18:32 GMT by
Adil Siddiqui
UK Sharpens Regulatory Teeth, Augments Legislation Curbing LIBOR Abuse
- The UK’s Chancellor George has confirmed that the British government will initiate an extension of the legislation in place for the regulation of LIBOR, encompassing an additional seven benchmarks to help curb abuse.
Monday, 22/12/2014 | 15:47 GMT by
Jeff Patterson
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
4X Solutions' Proprietor Whileon Chay Indicted for Defrauding Investors for $5 Million
- Investors in the United States were duped for $5 million by Ponzi-scheme scammer Whileon Chay according to a judicial filing by a federal grand jury in Manhattan. The principal of 4X Solutions faces accusations of fraud and misappropriation.
Friday, 19/12/2014 | 21:05 GMT by
Adil Siddiqui
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
FINRA Levies Joint $1.5Million Fine against Wells Fargo Affiliates
- The Financial Industry Regulatory Authority (FINRA) has issued a collective fine for two broker-dealers under common control, Wells Fargo Advisors (WFA) and Wells Fargo Advisors Financial Network (WFAFN) for $1.5 million.
Thursday, 18/12/2014 | 22:02 GMT by
Jeff Patterson
Financial Commission Certifies First Cryptocurrency ECN, IBinex
- Independent third party regulator, the Financial Commission has announced the certification of IBinex’s platform for Cryptocurrency trading, following an earlier bid this past September.
Wednesday, 17/12/2014 | 16:15 GMT by
Jeff Patterson
Gibraltar's FSC Issues Warning against Fraudulent Binary Options Providers
- Gibraltar’s paramount regulator, the Financial Services Commission (FSC) has reiterated it’s warning to public market participants with regards to binary options trading platforms.
Wednesday, 17/12/2014 | 15:21 GMT by
Jeff Patterson
Guaranteed-Returns Fraudster Fined $2.5 Million and Banned by CFTC
- A US fund manager has been charged by the country's financial watchdog for misleading investors. A federal court has ordered Daniel Steele and his firm Champion Management International to pay over $2.5 Million in fines.
Tuesday, 16/12/2014 | 18:28 GMT by
Adil Siddiqui
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
ESMA Reviews How Regulators Enforce MiFID Rules on Misleading Information, Recommends Changes
- The European Securities and Markets Authority recommends forcing investment firms to submit all marketing material to national regulators, like CySEC, including material used for cross-border business.
Thursday, 11/12/2014 | 17:09 GMT by
Avi Mizrahi
Who Slayed the Super Bull? China to Investigate Margin Trading after Stocks Slump
- The inspections would be presented as a routine check ups of margin trading and its level of compliance with regulations, but Chinese brokers expect them to be part of a wider clean-up of the business.
Thursday, 11/12/2014 | 13:09 GMT by
Avi Mizrahi
CFTC Issues IBFX with $600,000 Penalty for Failure to Meet Minimum Net Capital Requirements
- The CFTC requires IBFX to pay a $600,000 monetary penalty and to develop an automated system that will enable the real-time monitoring of its exposure, and adopt risk management procedures regarding 24-hour monitoring.
Wednesday, 10/12/2014 | 20:01 GMT by
Avi Mizrahi
American Watchdog Hits FXDD with Another $500,000 Fine, Limits It to Operate Only as IB
- The company behind the U.S entity of FXDD, New York based FXDirectDealer LLC, has settled to pay another $500,000 for inadequate anti-money laundering program and failure to supervise operations and employees.
Wednesday, 10/12/2014 | 19:13 GMT by
Avi Mizrahi
Breaking: Russian Forex Regulation Law Passes Second Reading in Parliament
- The latest version of the Russian forex regulation bill was passed in the Russian Duma on its second reading officially making the bill into a law, pending final due diligence in a formal read in the Federal council.
Tuesday, 09/12/2014 | 14:28 GMT by
Victor Golovtchenko
Dutch Financial Watchdog Warns about Ftradition, a Suspected Seychelles Boiler Room Scam
- Ftradition claims to offer "Stock Exchange Products" on its website but in some sections it also calls itself "ForexTradition." At any point, the unlicensed broker seems to focus mostly on CFDs.
Tuesday, 09/12/2014 | 12:08 GMT by
Avi Mizrahi
Canadian Self-Regulatory Organization Revises FX Margin Requirements
- The Investment Industry Regulatory Organization of Canada updated the margin requirement levels on the list of foreign exchange margin rates for Canadian and U.S. base currency FX trading accounts.
Tuesday, 09/12/2014 | 10:47 GMT by
Victor Golovtchenko
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
ASIC Forces Broker to Enhance Supervision in "Forex Crackdown"
- The Australian watchdog raised concerns over Calibre’s risk frameworks, advice to clients and supervision of representatives, and the company has changed the way it does business adhering to a stricter procedures.
Monday, 08/12/2014 | 07:19 GMT by
Avi Mizrahi
Bitcoin Picks: BitPay Enlists New Partners, Bitcoin Mining Difficulty Wanes
- A variety of developments transpired this week across the bitcoin realm, which included BitPay adding DriveWealth and Xsolla as partners, while bitcoin mining difficulties declined for the first time since 2013.
Saturday, 06/12/2014 | 10:05 GMT by
Jeff Patterson
Dodd-Frank Violations Lead to a $1.3 mln Fine for Gold Distributors Inc
- A Federal Court ordered the company and its owner Jordan Cain to pay restitution and civil monetary penalty for violating Dodd-Frank Amendments to the Commodity Exchange Act between January 2012 and February 2013.
Friday, 05/12/2014 | 17:42 GMT by
Victor Golovtchenko
Two Aussies Plead Guilty of Insider Trading after Pocketing $180,000
- The pair pled guilty after admitting to all of their wrongdoings related to several cases of exceptionally good trading decisions related to takeover bids netted them a hefty sum from CFD and shares transactions.
Friday, 05/12/2014 | 07:33 GMT by
Victor Golovtchenko
Canadian Consumer Commission Weary of Binary Options, Bitcoin
- Canadian financial services watchdog in New Brunswick has issued a note to investors warning them about possible investment scams. Binary options and digital currencies were identified as emerging threats.
Tuesday, 02/12/2014 | 23:34 GMT by
Adil Siddiqui
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