regulation
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 $180,000
- The pair pled guilty after admitting to all of their wrongdoings related to several cases of exceptionally good trading decisions related to takeover bids netted them a hefty sum from CFD and shares transactions.
Friday, 05/12/2014 | 07:33 GMT by
Victor Golovtchenko
Canadian Consumer Commission Weary of Binary Options, Bitcoin
- Canadian financial services watchdog in New Brunswick has issued a note to investors warning them about possible investment scams. Binary options and digital currencies were identified as emerging threats.
Tuesday, 02/12/2014 | 23:34 GMT by
Adil Siddiqui
Breaking: Offshore New Zealand Brokers Exempted from NZ$ 1M Capital Requirement
- According to the New Zealand Financial Markets Authority, if brokers are not offering their services to New Zealand residents, there is no need to get licensed by the regulator, but only register on the FSPR.
Tuesday, 02/12/2014 | 17:04 GMT by
Victor Golovtchenko
November Forex Industry Review: FX Fines, Funding and Steady Volumes
- The cooling weather of November or the Turkey and the NFL of Thanksgiving didn't result in a slowdown of activity in the forex industry as the month saw the release of plenty of products, scandals, and funding.
Monday, 01/12/2014 | 16:46 GMT by
Ron Finberg
Spain says bitcoin gambling sites require license, defines bitcoin as currency for Gambling Act
Sunday, 30/11/2014 | 15:27 GMT by
Leon Pick
Breaking: New Zealand FMA’s Phase Two Slated to Take Effect, Major Shift Coming?
- Phase two of New Zealand’s Financial Markets Authority (FMA) is poised to take effect December 1, ushering in a new era of capital markets and financial services laws that will revamp investor disclosure.
Friday, 28/11/2014 | 07:58 GMT by
Jeff Patterson
FOFA Bandwagon Takes Unexpected U-Turn as Advisors Brace for Compliance Quagmire
- With regulators in the process of reforming financial regulation worldwide, the Australian Senate gets involved by voting to repeal previous regulation designed to protect retail investors. Political games in economic circles.
Thursday, 20/11/2014 | 04:51 GMT by
George Tchetvertakov
ConvergEx Subsidiaries Caught Raiding the Cookie Jar by US Authorities
- The penalty hammer comes down on ConvergEx after long standing investigations, charges and a lengthy prosecution by a cavalcade of US authorities including the DoJ, FBI, USPIS and the SEC.
Thursday, 20/11/2014 | 03:13 GMT by
George Tchetvertakov
Discretionary CFD Broker Terminated by ASIC, Director Banned for Second Time
- ASIC terminates one CFD broker, bans its Director and warns against a margin foreign-exchange broker YoutradeFX operating without a license. The regulator's battle for compliant market practises continues.
Tuesday, 18/11/2014 | 01:26 GMT by
George Tchetvertakov
Banks Face Judgment Day As FXCM Strengthens US Market Foothold
- This week’s “Best Stories” edition explores the true meaning and possible consequences of the much awaited FX rates manipulation fines, along with interesting findings from CFTC's September retail fx report.
Saturday, 15/11/2014 | 22:01 GMT by
Jeff Patterson
Quebec AMF Issues an Updated Binary Options Warning List
- According to one of the provincial Canadian regulators, residents of Quebec should avoid dealing with a list of 36 off exchange binary options providers offering unauthorized trading to Canadian residents.
Friday, 14/11/2014 | 21:45 GMT by
Victor Golovtchenko
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