regulation
Social Media Sellers Get Busted as SEC Charges for FX & Investment Fraud
- US regulator has charged two Indian-based fraudsters & their firm for their involvement in a high-yield investment scheme that offered guaranteed returns. The firm was caught-out for its mis-selling on social media.
Wednesday, 12/11/2014 | 20:39 GMT by
Adil Siddiqui
US CFTC Obtains Orders for a Record $3.27 Bln in Monetary Sanctions for Fiscal 2014
- However, the U.S. Commodity Futures Trading Commission is not providing data about the actual number in collected fines, an effort which is led by the U.S. Department of Justice and the U.S. Department of Treasury.
Tuesday, 11/11/2014 | 13:42 GMT by
Victor Golovtchenko
ASIC Announces Areas of Focus for Upcoming Financial Reports by Listed Companies
- The Aussie regulator encourages greater transparency and responsibility from Listed companies when submitting financial reports at the end of the year. ASIC urges Directors to "challenge the accounting estimates and treatments" if necessary.
Friday, 07/11/2014 | 01:50 GMT by
George Tchetvertakov
Cypriot Regulator Approves Lucro Capital aka HiWayFX as an Authorised Provider of FX
- Brokers operating in the FX & CFD arena continue to choose Cyprus as their preferred destination for company set-up and authorisation. HiWayFX, a Lucro Capital brand, becomes the latest firm to gain approval as a CIF
Thursday, 06/11/2014 | 18:58 GMT by
Adil Siddiqui
Exclusive: MAP S.Platis Launches Forensic Unit Headed by Rakis Christoforou
- Amidst a flurry of regulatory attention zeroing in on the financial services sector, Cypriot financial consultant MAP S.Platis has launched the MAP Financial Forensic Unit, headed by Rakis Christoforou.
Wednesday, 05/11/2014 | 07:00 GMT by
Jeff Patterson
One for All as ECB Takes Charge of Banking Regulations & Supervision for the Union
- Europe's main central banking institute, the ECB will take charge of central banks in the region. The Frankfurt-based organisation will assume full responsibility as the Single Supervisor in the Banking Union.
Tuesday, 04/11/2014 | 20:58 GMT by
Adil Siddiqui
An In-Depth Look into the Money-Making Behemoth of the Binary Options Industry
- As high profile sponsorships and IPO chatter mark an imminent breakthrough in the binary options space, Forex Magnates Research releases its new report offering unique data and analysis of the emerging industry.
Tuesday, 04/11/2014 | 14:24 GMT by
FMAdmin Someone
UK Treasury turns to public for advice on Bitcoin regulation, launches open consultation
Tuesday, 04/11/2014 | 10:55 GMT by
Leon Pick
FMA Pushing Forward with Plans to Raise Regulatory Standards and Shed Soft-Touch Reputation
- As the FMA prepares to initiate Phase Two of its sweeping financial markets reform later this year, the touchy subject of regulatory arbitrage comes into focus once more.
Tuesday, 04/11/2014 | 10:46 GMT by
George Tchetvertakov
US Brokers to Face New Reporting Practises under NFA’s Segregated Funds Reports
- US Financial services providers will be required to submit their semi-monthly segregated client funds data under new requirements. The watchdog requires firms to submit important client money data in percentages.
Monday, 03/11/2014 | 21:56 GMT by
Adil Siddiqui
RBS Preps for FX Settlement Charges with $639Mln Allocation, Company Stock Falls
- Several of the financial industry’s leading banks have been engulfed in an ongoing probe alleging FX manipulation – in anticipation of impending regulatory actions, RBS has allocated $639 million for potential settlements.
Monday, 03/11/2014 | 18:28 GMT by
Jeff Patterson
Israeli Securities Authority Issues Warning before Regulation of Forex Trading Begins
- The announcement comes amid "inaccurate publications concerning supervision," informing that the watchdog will not supervise all existing market players but only brokers whose license application would be approved.
Monday, 03/11/2014 | 13:45 GMT by
Avi Mizrahi
Exclusive: Myfxbook Becomes Regulated Platform with New CySEC License
- Copy trading provider Myfxbook obtained a license from the Cyprus Securities and Exchange Commission financial regulator, underpinning its stance as one of the leading social trading networks for forex traders.
Friday, 31/10/2014 | 14:00 GMT by
Ron Finberg
US Court Settles with Bankrupt Broker MF Global for Palladium and Platinum Price Discrepancy
- One of the largest financial derivatives trading firms, MF Global, has settled with US courts on matters relating to the price manipulation of certain precious metals contracts. Complainants to receive $21.1 million.
Thursday, 30/10/2014 | 23:44 GMT by
Adil Siddiqui
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
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