regulation
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
US Watchdog Pays $300,000 Whistleblower Award to Compliance Agent Who Reported on His Firm
- The SEC proves that it is willing to pay big for employees to rat on their firms in its battle against fraud and corruption with the first award for a whistleblower with an audit or compliance function at a company.
Tuesday, 02/09/2014 | 19:05 GMT by
Avi Mizrahi
US Investment Firm Collects $440,000 in Rebate Payments - Forgets to Inform Clients
- US financial watchdog charges a Houston-based investment management firm for not disclosing earnings it received from promoting funds. The firm bagged $440,00 in compensation from brokers offering the funds.
Tuesday, 02/09/2014 | 17:58 GMT by
Adil Siddiqui
Belize Brokerage MTrading Officially Joins the Financial Commission
- MTrading (ServiceCom Ltd), regulated in Belize, joins the growing list of brokers who have obtained membership with the Financial Commission to help resolve client complaints in an unbiased procedure.
Monday, 01/09/2014 | 06:58 GMT by
Avi Mizrahi
Israeli Financial TV Show Warns Against "Cash Extractor" Binary Options Trading
- The former Commissioner of the Israeli Income Tax Authority, who is the founder and Chairwoman of Binary Options trading brand, etrader, has defended the trade: "there are quite a few people that make profits."
Sunday, 31/08/2014 | 13:08 GMT by
Avi Mizrahi
Chinese Forex Broker "Clone Wars" Rampant, Now Targeting Major Investment Banks
- Major investment banks are the latest victims of the "attack of the clones" which is expanding its scope to major financial institutions, seeking to take advantage of inexperienced traders from the Far East.
Saturday, 30/08/2014 | 18:04 GMT by
Victor Golovtchenko
ASIC Seeks to Augment Business Practises Relating to Personal Advice
- With regulatory repercussions cascading down on several banks and financial services firms around the globe, the Australian Securities and Investments Commission (ASIC) offers its own views and recommendations.
Thursday, 28/08/2014 | 08:29 GMT by
George Tchetvertakov
UK Watchdog Warns against a Boiler Room Scam Clone Targeting Asian Traders as LCG
- The British Financial Conduct Authority issues warnings against a Singapore-based clone website pretending to be London Capital Group Asia and about an unauthorised or "independent" firm targeting UK investors.
Thursday, 28/08/2014 | 08:06 GMT by
Avi Mizrahi
FCA Sharpens Teeth, Defends Increasing Use of Attestations
- As the wounds of recent scandals across the financial industry remain fresh, some have questioned the UK’s Financial Conduct Authority (FCA) quick and decisive use of changes mandated by the British regulator.
Tuesday, 26/08/2014 | 18:03 GMT by
Jeff Patterson
FINRA Fines Citigroup Global Markets $1.85M Following Supervisory Violations
- The Financial Industry Regulatory Authority (FINRA) has levied a $1.85 million fine against Citigroup Global Markets Inc., which now is also responsible for paying $638,000 in restitution, plus interest.
Tuesday, 26/08/2014 | 14:32 GMT by
Jeff Patterson
FXCM's Tal Zohar Portends FX Broker Exodus after Israel’s New Edict
- Tal Zohar, Chairman of Israel’s Trading Arena Association, a lobby group representing the financial trading industry, spoke with Forex Magnates about the new Israeli regulations and their ramifications on the industry.
Monday, 25/08/2014 | 00:06 GMT by
Avi Mizrahi
FSMA Warns of Unauthorized Activities of Nine Forex, Binary Options Providers
- The Financial Services and Markets Authority (FSMA) has issued a public warning against the unauthorized activity of nine forex and binary options providers, each failing to comply with Belgian regulation.
Friday, 22/08/2014 | 14:47 GMT by
Jeff Patterson
Bank of America Settles Record $16.7 Billion Mortgage Settlement
- US banking institute, Bank of America, has settled a fine issued by US regulators. The bank will pay a record $16.7 billion for misleading investors during the 2008 crisis for mortgage related investments.
Thursday, 21/08/2014 | 22:59 GMT by
Adil Siddiqui
Colorado Company R2 Capital Charged with Fraud and Misappropriation by the CFTC
- After the NFA provided a lead in December last year, the CFTC has charged R2 Capital Group LLC. and its owners its owners, Ryan Tomazin, Ryan Madigan, Randell A.Vest with fraud and misappropriation.
Thursday, 21/08/2014 | 22:18 GMT by
Victor Golovtchenko
Another FCA Warning: AMT Markets is a Cloned Chinese Broker
- the watchdog has warned against the cloned firm, who claims to be U.K based to allure potential Chinese traders with a british brand but its website domain is registered under Jiaxin Liu from Guangzhou, China.
Thursday, 21/08/2014 | 09:09 GMT by
Avi Mizrahi
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
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