regulation
ASIC Continues Ongoing Fight with Malpractice in the Financial Markets
- Market regulation operates on a self-regulatory model, leaving ASIC no choice but to play cat-and-mouse with market participants. With workload remaining elevated ASIC is pushing for dialogue rather than court dates
Thursday, 21/08/2014 | 05:29 GMT by
George Tchetvertakov
AxiomSL's Regulatory Reporting Solution Prepares for EBA Rules
- Financial services firms preparing for the new reporting requirements under EBA will be able to process data in several formats with AxiomSL's reporting tools, the new guidelines will go live in September.
Wednesday, 20/08/2014 | 18:39 GMT by
Adil Siddiqui
US Authorities Issue $300 Million Penalty against Standard Chartered Bank
- The New York State Department of Financial Services has reported that it has issued an Order against one of the world’s largest banking institutes for breaching a number of significant compliance principles.
Wednesday, 20/08/2014 | 03:45 GMT by
Adil Siddiqui
Citing London FX Broker Demand for Its EMIR Solution, Confisio Opens UK Office
Monday, 18/08/2014 | 14:28 GMT by
Ron Finberg
Indian Banking Sector to Get Injection of New Accounts - Prime Minister Proposes
- In a historic independence-day speech, India’s prime minister, Narendar Modi plans to strengthen the country’s banking sector as he rolls out a mechanism to remove the country’s cash economy, bank accounts for all.
Saturday, 16/08/2014 | 14:24 GMT by
Adil Siddiqui
Binary Options from Royal De Bank and Futur Markets Blacklisted by FINMA
- After Luxembourg's local financial authority Commission de Surveillance du Secteur Financier has exposed the companies last month, the Swiss Financial Market Supervisory Authority joins the scrutiny.
Friday, 15/08/2014 | 07:25 GMT by
Victor Golovtchenko
Linkbrokers Found Guilty of Manipulating Fees to Overcharge Clients $18 Million
- The US financial watchdog for equities trading, the SEC, has charged a regulated firm for manipulating client commissions. Linkbrokers had overcharged its clients $18 millions by misrepresenting fees.
Thursday, 14/08/2014 | 23:07 GMT by
Adil Siddiqui
FCA Gives Green Light on Sabet’s GLIO Financing of London Capital Group
Thursday, 14/08/2014 | 16:02 GMT by
Ron Finberg
One-Size-Fits-All in India as New Regulatory Measures Take Shape - Sharing KYC Data
- Indian retail investors are to benefit from a new shared data solution among participants in the finance and banking sector. Regulators have approved new measures that allow firms to access a centralised KYC database
Tuesday, 12/08/2014 | 18:56 GMT by
Adil Siddiqui
Quebec's AMF Issues Warning against Unauthorized Activity of 24 Companies in Canada
- Canada’s Autorité des marchés financiers (AMF) has issued a warning to Quebec investors about the use of forex and binary options platforms, specifically citing 24 companies that are presently unauthorized in Canada.
Tuesday, 12/08/2014 | 17:17 GMT by
Jeff Patterson
Got a Tip from a Friend on a CFD? In Australia It Can Cost You a Huge Fine and Jail Time
- The Australian Securities & Investment Commission took a CFD investor to court for insider trading charges. He may face years of Jail time and a massive fine in hundreds of thousands of for only $25,000 in profits.
Tuesday, 12/08/2014 | 10:35 GMT by
Avi Mizrahi
PCI SSC releases guidance on 3rd party relations for card data security
Monday, 11/08/2014 | 11:42 GMT by
FMAdmin Someone
Bulgarian Watchdog Warns against Introducing Brokers of Islandbay Services Belize
- The Bulgarian Financial Supervision Commission (BFSC) warns the public against the activities of the company ISLANDBAY SERVICES LTD with a brand name BROKER CAPITAL, and its IBs Investors LTD and 24 Trade.
Monday, 11/08/2014 | 09:40 GMT by
Avi Mizrahi
Regulators Enhance Global Cooperation as Fx Rates’ Criminal Investigations Drag On
- The FCA received thousands of assistance requests from law enforcement agencies worldwide in 2013, a 14% increase. A Serious Fraud Office probe targeting institutional dealers’ chat rooms will continue into 2015.
Monday, 11/08/2014 | 08:49 GMT by
Avi Mizrahi
UK's Regulator FCA Warns against Dealing with Leveltrade Ltd
- The company fraudulently claims on its website that it is registered in the UK, while on the bottom part of its website a short piece of text reveals that the operator is registered in the St Vincent and Grenadines.
Friday, 08/08/2014 | 11:24 GMT by
Victor Golovtchenko
UK Regulator Financially ‘Abuses’ Market Abusers - Annual Fines Cross $580 Million in 2013
- The Financial Conduct Authority has been pressing down on fines against firms & individuals guilty of market abuse, according to a report. The total amount of fines handed out to offenders topped $572 million in 2013.
Thursday, 07/08/2014 | 18:52 GMT by
Adil Siddiqui
The FCA Outlines Do's & Don'ts in Social Media Financial Promos
- The UK regulator has taken the initiative of clarifying compliance issues arising from using the new ways of interaction with customers of the financial industry by issuing a guidance consultation paper.
Thursday, 07/08/2014 | 09:47 GMT by
Victor Golovtchenko
Financial Commission Issues H1 Report Detailing Its Client Dispute Resolution Mechanism
- During the first half of 2014, the Financial Commission has resolved 20 claims from clients of forex and binary options brokers and has successfully launched its initiative for certifying binary options platforms.
Wednesday, 06/08/2014 | 16:17 GMT by
Victor Golovtchenko
LQD Markets Officially No Longer Authorised by Cyprus Watchdog
- FX broker LQD Markets Ltd has officially renounced its CySEC authorization to provide investment services and now operates and an FCA regulated entity alone as Forex Magnates reported before it had planned.
Tuesday, 05/08/2014 | 09:48 GMT by
Avi Mizrahi
Should Regulators Pay Whistleblowers? The FCA Thinks Differently
- Conflicting views in either side of the Atlantic have opened-up debate on the benefits of running an incentivized whistleblower program, when the British watchdog utterly rejects the Americans' supportive approach.
Monday, 04/08/2014 | 22:09 GMT by
Adil Siddiqui
European Commission Delays Unilateral Spot FX Definition to 2017
- A missing EU wide universal FX Spot transactions definition makes the EMIR implementation process a great example of the scale of European Bureaucracy and the lack of consensus (not only) about financial regulation.
Monday, 04/08/2014 | 17:37 GMT by
Victor Golovtchenko
"Israel’s New FX Tight Control Regime May Lead to Industry Mergers and Exits”
- After passing the new regulation limiting leverage and requiring brokers to acquire a licence, speaking with Forex Magnates the lawmaker behind it vows traders' protection and expects an industry shake up.
Sunday, 03/08/2014 | 14:35 GMT by
Avi Mizrahi
FCA Finds That Brokerage Firms Fail to Deliver Best Execution to Customers
- Findings detailed in the latest FCA Thematic Review of Best execution and payment for order flow amongst 36 brokerages, are detailing how companies in the industry largely fail in delivering best execution.
Thursday, 31/07/2014 | 09:42 GMT by
Victor Golovtchenko
NFA Slams the Door on ILQ on Its Way out from the US with Massive Fine
- After ILQ already dropped its Retail Foreign Exchange Dealer License in April, the NFA now placed a permanent ban from membership on the firm and orders it to pay a fine and restitution of about $350,00.
Wednesday, 30/07/2014 | 08:47 GMT by
Avi Mizrahi
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