regulation
London FX Traders Face Dwindling Bonuses in Wake of Scandal
- Bonuses awarded to FX traders in London, a long held perk of the position, are slated for a massive decline of -43% this year, in wake of lingering scandals and regulatory crackdowns that have engulfed the industry.
Thursday, 18/09/2014 | 07:06 GMT by
Jeff Patterson
Global FX Market Regulation – a Big Dream That Requires Even Bigger Ambition | Part 2
- In the second part of our article looking at FX regulation, we analyze the current status of global FX market regulation and what the implications are for various market participants.
Thursday, 18/09/2014 | 00:23 GMT by
George Tchetvertakov
ASIC Signs Memorandum of Understanding as OTC Market Reforms Loom
- Australia's financial market regulator has announced the signing of a Memorandum of Understanding with Singapore's Monetary Authority as Asia's regulatory agencies circle the wagons in preparation for potential G20 reforms
Wednesday, 17/09/2014 | 05:00 GMT by
George Tchetvertakov
Hedge Fund SAC Capital Guilty of Insider Trading - Loses Fund Management License
- Leading hedge fund found guilty of insider trading in 2013 has license revoked by the CFTC. SAC Capital has paid $1.2 billion in fines and will no longer be offering fund management services.
Tuesday, 16/09/2014 | 23:30 GMT by
Adil Siddiqui
SafeCharge Expands into Electronic Money, Gets Authorized by the Central Bank of Cyprus
- The company’s wholly owned subsidiary SafeCharge Limited has received the authorization under the European Parliament’s 2009 directive applying to payment service providers which issue electronic money in the EU.
Tuesday, 16/09/2014 | 09:00 GMT by
Victor Golovtchenko
FCA Warns against yet Another Clone Company Using the Details of a Natixis Subsidiary
- UK's regulatory body has issued a warning on its website against a fraudster using the details of EEA Authorized company Dupont Denant Contrepartie S.A, a subsidiary of French investment bank Natixis Securities.
Tuesday, 16/09/2014 | 07:13 GMT by
Victor Golovtchenko
Morgan Stanley Settles to Pay $280,000 to CFTC, Relating to Faults in KYC Procedures
- The regulator also established failures relating to enforcement of imposed trading limits, lack of timely and accurate response to a CFTC document request, and failure to maintain adequate customer records.
Monday, 15/09/2014 | 23:03 GMT by
Victor Golovtchenko
Shanghai Free Trade Zone in Flux, Senior Official, Dai Haibo Departs
- The Shanghai Free Trade Zone’s (FTZ) most senior official, Dai Haibo has relinquished his duties as Executive Deputy Director and Communist Party Chief, following alleged disciplinary violations.
Monday, 15/09/2014 | 10:25 GMT by
Jeff Patterson
ASIC Warns Against FirstForex, Fifx and FIFX Global: “Not Regulated in Australia”
- Another cloned broker gets a warning from a global regulator. This time ASIC is warning investors about FirstForex that it is in fact an unregulated broker and not registered in Australia.
Monday, 15/09/2014 | 07:09 GMT by
George Tchetvertakov
Easy Forex Might Face 500 MLN Shekel Class Action Lawsuit, Israeli Paper Estimates
- The Tel Aviv District Court has recently decided that there is a "probable chance" that one of the biggest Israeli brokers will qualify as offering unlicensed investment advice, marketing and investment management.
Sunday, 14/09/2014 | 13:56 GMT by
Avi Mizrahi
Last Minute Misconduct Complaint Filed against Chinese Financial Giant Citic
- Citic, a leading Chinese state-owned consortium of firms will face a legal battle against Hong Kong’s financial watchdog. The regulator claims Citic misled investors which resulted in major financial losses.
Saturday, 13/09/2014 | 11:46 GMT by
Adil Siddiqui
Global FX Market Regulation | Part 1 – A Big Dream That Requires Even Bigger Ambition
- With the majority of financial services under regulatory oversight across the globe, could now be the time when the FX market finally comes in from the cold? In a special two part series Forex Magnates reports.
Friday, 12/09/2014 | 03:00 GMT by
George Tchetvertakov
Special: Sneak Peek at Forex Magnates' Interview with CySEC Chairwoman Kalogerou
- Demetra Kalogerou, the leader of the retail FX industry’s most influential regulator, speaks exclusively with Forex Magnates about restoring Cyprus' credibility, regulating Binary options and Social Trading.
Thursday, 11/09/2014 | 22:45 GMT by
Avi Mizrahi
July CFTC FCM Data Reveals Retail Forex Funds Growing at GAIN Capital, OANDA and FXCM
- Total Retail Forex Funds rose by $41,413,312 in July when compared to the previous month, with the top three retail forex brokerages in the US GAIN Capital, FXCM and OANDA registering substantial rises.
Thursday, 11/09/2014 | 19:43 GMT by
Victor Golovtchenko
ZuluTrade Fined $350,000 for Opening Accounts for Individuals from US Sanctioned Countries
- The CFTC found that for at least three years from October 2010 to October 2013, Zulutrade opened approximately 400 accounts for account holders from OFAC targeted countries (primarily Iran, Sudan, and Syria).
Tuesday, 09/09/2014 | 20:02 GMT by
Avi Mizrahi
CySEC Launches New Regulatory Directive against Market Abuse
- The Cypriot regulator has launched a series of mandates and edicts policing against unregulated entities, including a recent push to curb market abuse (MAR). The new amendments will take effect in 2016.
Tuesday, 09/09/2014 | 11:23 GMT by
Jeff Patterson
ASIC Takes Action against 'Global Derivative Services' for Multiple License Breaches
- The Australian watchdog pulls the plug on the retail forex broker for failing to meet its AFS obligations, and takes a tough line on firms looking to offer derivatives products to retail investors.
Tuesday, 09/09/2014 | 02:39 GMT by
George Tchetvertakov
Swiss and British Financial Watchdogs Warn of More Unregulated Brokers and Scam Clones
- More scammers exposed by international regulators for the identity theft of legal corporations or targeting clients in markets where they are not authorized or licensed to.
Monday, 08/09/2014 | 09:42 GMT by
Avi Mizrahi
Exclusive: NFA Issues a Complaint against FXDD, Raising Allegations on Five Counts
- According to information exclusively obtained by Forex Magnates the company is facing up to $1,250,000 in fines from the NFA, as charges are raised against FXDD and its CEO, Joseph Botkie.
Thursday, 04/09/2014 | 21:17 GMT by
Victor Golovtchenko
Financial Commission Brings Bitcoin Regulation for Brokers with Launch of Crypto Division
- Filling a gap in the world of cryptocurrency trading, the Financial Commission has announced a new crypto division. The unit will provide customer dispute resolutions with brokers and accounting transparency.
Thursday, 04/09/2014 | 14:28 GMT by
Ron Finberg
IronFX Grilled on Chinese TV by Affiliates, Criminal Fraud Investigation Filed on Air - Updated
- In a 20 minute report, a journalist went undercover to experience the deposit process and track the money. A Chinese official called for a “severe punishment” in the event that IronFX is found to be operating illegally.
Thursday, 04/09/2014 | 08:00 GMT by
Avi Mizrahi
NFA Proposes New Layer of Monitoring of Client Funds for FX Firms
- Authorities in the US that regulate financial derivatives trading firms have made proposals for participating brokers that hold clients funds with third parties, the NFA amends the daily monitoring of client money.
Wednesday, 03/09/2014 | 20:16 GMT by
Adil Siddiqui
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}