regulation
FINRA & SEC Issue Investor Warning on Penny Stock Fraudsters
- The Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission's (SEC) Office of Investor Education and Advocacy has released a warning to investors over volatile penny stocks.
Thursday, 30/10/2014 | 17:53 GMT by
Jeff Patterson
They Just Keep Coming! British Financial Watchdog Warns of Three More Forex Clone Scams
- Like with many clones before, the sites seem to primarily target Chinese speakers. Today's batch are of higher quality as far as graphics are concerned showing an improvement in the skills fraudsters imploy.
Thursday, 30/10/2014 | 15:46 GMT by
Avi Mizrahi
Exclusive: Poland Financial Regulator’s Forex Profitability Survey Results Unmasked
- Forex Magnates reporters reached out to a player in the local market to delve deeper into the reasons for the high client loss ratio with 81% of local traders have experienced losses on their trading accounts.
Wednesday, 29/10/2014 | 16:59 GMT by
Victor Golovtchenko
Arthur Levitt Is Advising BitPay and Vaurum as Bitcoin Smart Contracts and Crypto Equities Emerge
- The Former SEC Chairman will help the two companies to adapt their services into regulatory and financial standards. "Bitcoin related property is in the future of blockchain technology," says Bitpay's Tony Gallippi.
Wednesday, 29/10/2014 | 13:11 GMT by
Ron Finberg
Cyprus and Mauritius Watchdogs Spell Out ill-Devised Broker Scam
- The CySEC and FSC Mauritius has informed the public that LiveFX Trader is not and has not at any time been licensed by neither regulator, citing ill-devised fraudulent documentation with some basic errors.
Monday, 27/10/2014 | 15:10 GMT by
Avi Mizrahi
NFA Bars Bullion Trading Advisor Years after He Stopped Operations and Left the US
- The association said that it started its investigation of Success Bullion in 2014 but the firm did not operate for at least two years before. The owner migrated back to Taiwan in June 2011 and shut down the company.
Monday, 27/10/2014 | 11:50 GMT by
Avi Mizrahi
FXCM to Pay $180,000 Penalty for Unregistered Trades to Canadian Provincial Regulators
- The NYSE listed brokerage has agreed to pay a penalty of $180,000, of which $22,000 will be paid to the New Brunswick's Financial and Consumer Services Commission - recently established by the provincial government.
Monday, 27/10/2014 | 09:09 GMT by
Avi Mizrahi
Financial Robotics Ordered by CFTC to Pay $3 Mln for 'Risk Free' Forex Fraud
- Mark E. Rice and his company Financial Robotics get another fine, however chances are slim that these hefty fines will be ever paid back since Mr Rice has already to pay $1.5 million from a January 2014 order.
Friday, 24/10/2014 | 16:25 GMT by
Victor Golovtchenko
Bank of Russia to Exempt Forex Accounts from Tax Rebates on Investments
- The Russian Central Bank plans to exempt funds in accounts trading on the foreign exchange market from tax rebates introduced with investment accounts that Russians will be able to open from the beginning of 2015.
Friday, 24/10/2014 | 12:46 GMT by
Victor Golovtchenko
China's Forex Regulator Not Worried about "Hot Money" Capital Outflows, Monitors U.S Policy
- The head of the department of international payments at SAFE explained that the decline in reserves was caused by the USD appreciation, which reduced the dollar value of the reserves held in other currencies.
Thursday, 23/10/2014 | 14:03 GMT by
Avi Mizrahi
FMA Urges Jackpot-Seeking Retail Investors to Avoid 'Big Win' Scams
- The FMA implores investors to restrain their profit expectations and avoid falling for financial scams. But is it realistic to expect unprepared and unaware novice investors to avoid becoming fixated with profits?
Thursday, 23/10/2014 | 09:15 GMT by
George Tchetvertakov
Regulatory Authorities Nearing FX Manipulation Charges, Fines Approaching $41B?
- Following a yearlong investigation by a number of global regulators alleging FX manipulation by many of the world’s leading banks, the potential costs associated with fines are starting to be weighed.
Tuesday, 21/10/2014 | 08:33 GMT by
Jeff Patterson
FX Fixing Scandal Continues its Misery - Rabobank Puts 2 More Traders on Leave
- Two FX traders have been placed on leave at Rabobank, Gary Andrews and Chris Twort have been named in an investigation. Mr Andrews is believed to have left the bank, according to his Linkedin profile.
Monday, 20/10/2014 | 20:59 GMT by
Adil Siddiqui
Two English Channel Islands Join Forces to Attract Brokers With Dual Gambling/Financial Licence
- The gambling regulator of Alderney and the financial regulator of the neighboring Guernsey will cooperate to establish the islands as a joint Binary Options, CFDs and Spread Betting jurisdiction.
Monday, 20/10/2014 | 15:17 GMT by
Avi Mizrahi
MFSA Tightens Financial Licensing Rules and Raises Capital Requirement
- Effective October 20th, all new foreign exchange brokers must adhere to a €730,000 initial minimum capital requirement in Malta alongside a range of other conditions designed to toughen financial regulation.
Monday, 20/10/2014 | 12:37 GMT by
George Tchetvertakov
Two Former Rabobank Employees Charged for Libor Rates Manipulation
- US Department of Justice has charged two former traders at Dutch bank, Rabobank. The two were found guilty of their role in the manipulation of Libor rates, a total of six former workers at the bank have been charged.
Thursday, 16/10/2014 | 18:59 GMT by
Adil Siddiqui
South Korea's Financial Regulator Intensifies Monitoring of Forex Trading
- In yet another example of the FX market coming under more scrutiny from regulators globally, Forex Magnates reports on South Korea's plans to make Forex brokers more transparent and traders more accountable.
Thursday, 16/10/2014 | 07:41 GMT by
George Tchetvertakov
Cyprus Regulator Releases Practical Guide to MiFID II for the Financial Trading Industry
- Among the highlighted changes: EU member states may require that third country firms will have to establish a branch in each member state where they operate and risk control requirements for high frequency traders.
Wednesday, 15/10/2014 | 10:41 GMT by
Avi Mizrahi
ActTrader Becomes 1st Multi-Asset Trading Platform Certified by Financial Commission
- Leading dispute resolution organization, Financial Commission, reports that it has certified a new trading platform. ActTrader, a trading portal becomes the second platform to gain recognition by the commission.
Tuesday, 14/10/2014 | 16:40 GMT by
Adil Siddiqui
Plus500 Granted CySEC License to Provide Financial Services in Cyprus
- Following an exclusive report on the broker opening office on Cyprus in August, Plus500 has been officially approved by the CySEC watchdog as an investment firm, following the assistance of consultant Map S.Platis.
Tuesday, 14/10/2014 | 09:22 GMT by
Adil Siddiqui
AMF Publishes Four-Year FX Study, 89% of Investors Experiencing Losses
- Autorité des marchés financiers (AMF) has issued an announcement warning investors of the potential dangers of trading FX, following a mounting number of complaints from investors.
Monday, 13/10/2014 | 11:56 GMT by
Jeff Patterson
Worldwide Investment Fund Reliance Prompts Regulatory Focus
- With wounds of the previous global financial crisis still lingering, asset managers and regulators are focusing on the mounting reliance of investment funds worldwide, which are estimated at 90% of the global economy.
Monday, 13/10/2014 | 06:39 GMT by
Jeff Patterson
FCA Issues Warning Against 'B2S Forex' and Encourages Investors to Avoid Unregulated Entities
- The FCA issues a new warning against another start-up FX broker operating without a license. This time, the perpetrator is not camouflaged in the City of London, but rather a leafy village in Leicestershire.
Monday, 13/10/2014 | 06:06 GMT by
George Tchetvertakov
Monarch FX and Quinten Hunter Banned From FX Crucible as ASIC Calls Foul and a Miss
- 'Wizard of Oz' Quinten Hunter temporarily banned by ASIC as the regulator starts court proceedings against Monarch FX for offering inappropriate advisory services and operating without a suitable license.
Monday, 13/10/2014 | 03:18 GMT by
George Tchetvertakov
Ending "Too Big to Fail:" Derivatives Industry Asks to Remove Cross-Border Close-Out Risk
- Mark Carney, Governor of the Bank of England and Chairman of the FSB, stated that the announcement “marks another important step towards completion of our comprehensive global reform agenda to end too-big-to-fail.
Sunday, 12/10/2014 | 13:25 GMT by
Avi Mizrahi
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