regulation
Governor of Bank of Cyprus to Step Down, as Resignation Letter Confirmed
- One month shy of his two year anniversary, in April 2014, Panicos Demetriades the Governor of the Central Bank of Cyprus will resign his post amid challenges that had been previously voiced against the government.
Monday, 10/03/2014 | 16:27 GMT by
Steven Hatzakis
Thomson Reuters Creates Subsidiary to Govern Benchmarks Ahead of Regulatory Deadline
- Thomson Reuters has unveiled the Thomson Reuters Benchmark Services Limited (TRBSL), a subsidiary aimed at managing and overseeing financial benchmarks that were previously the target of LIBOR manipulation.
Monday, 10/03/2014 | 10:44 GMT by
Jeff Patterson
CySEC Fines DC Digital Processing 2 Ltd €5,000 for Its Optionbit.com Website
- The petty administrative fine was delved out by the Cyprus Securities and Exchange Commission (CySEC) after it determined the company had offered its services online before being officially CySEC-regulated.
Friday, 07/03/2014 | 18:46 GMT by
Steven Hatzakis
Maltese Financial Markets Regulator Warns Global Capital Markets FX Ltd Not Licensed
- The latest warning of an unregulated broker falsely claiming to be regulated comes from the Malta Financial Services Authority who advised today of the company FxGcmi and its related corporate names not licensed in Malta.
Friday, 07/03/2014 | 14:53 GMT by
Steven Hatzakis
Exclusive: Colombian Regulator Temporarily Suspends IronFX Operations in the Country
- IronFX, a provider of fx services, has been accused of operating and promoting its products without proper authorization in Columbia, raising allegations from the Financial Supervisory Authority of Columbia.
Friday, 07/03/2014 | 09:27 GMT by
Jeff Patterson
CySEC Issues Warning about the Risks of CFD Trading
- CFDs are considered by the financial supervisory authority as being suitable only for professional clients or highly experienced retail investors who can understand how they work and the risks they entail.
Thursday, 06/03/2014 | 15:02 GMT by
Avi Mizrahi
Japan to possibly regulate and tax Bitcoin because of MtGox
Thursday, 06/03/2014 | 11:04 GMT by
FMAdmin Someone
Italian Regulator Explains Issuing Warning Against Binary Options Brokers
- The Commissione Nazionale per le Società e la Borsa views Binary Options trading as "bets" and therefore warned the Italian public against a number of brokers that operated Italian support websites.
Wednesday, 05/03/2014 | 17:40 GMT by
Avi Mizrahi
Russian telecom operator to enter crowded local payment arena
Wednesday, 05/03/2014 | 15:34 GMT by
FMAdmin Someone
A New UK Body to Regulate Payment Services? FCA Hopes to Improve Industry Competition
- UK's Financial Conduct Authority (FCA) plans to form a new regulatory body to oversee payment services companies in a bid to increase competition and ease entry for smaller companies.
Wednesday, 05/03/2014 | 12:26 GMT by
Payment Magnates
Russian Central Bank Eyes FX Regulations Highlights Leverage & Advertising
- Russia’s central bank looks to regulate Forex trading, Russian media reports. The regulator is proposing new measures that sanction the way brokers advertise their products and the level of margin on open positions.
Tuesday, 04/03/2014 | 17:37 GMT by
Adil Siddiqui
Who is Watching the Watchmen? Bitcoin Regulation Continues to be a Waiting Game
Sunday, 02/03/2014 | 15:17 GMT by
Ron Finberg
CFTC Lobbies Orders for Trading Bans, Sanctions Via Forex Fraud Worth $2.9M
- The CFTC has obtained a series of orders effectively sanctioning the trifecta of Susan G. Davis, David E. Howard II, and Joseph Burgos for their role in the illegal solicitation of forex trading accounts.
Friday, 28/02/2014 | 18:58 GMT by
Jeff Patterson
CFTC Charges Melody Nganthuy Phan with Elaborate Forex Scheme Valued at $3.7 Million
- The CFTC has filed civil enforcement charges, among others, against Melody Nganthuy Phan and her congregation of three companies for a fraudulent foreign exchange scheme valued at over $3.7 million.
Thursday, 27/02/2014 | 23:00 GMT by
Jeff Patterson
Lloyds Bank Suspends Trader Amidst Libor Manipulation, Others Return to Work
- The fx and benchmark fixing scandal has taken another turn as of late, this time via an announcement out of Lloyds Banking Group that a trader has been suspended following allegations of Libor manipulation.
Thursday, 27/02/2014 | 00:20 GMT by
Jeff Patterson
Ben Lawsky Speaks with CNBC on Bitcoin Outlook Following MtGox Collapse
Wednesday, 26/02/2014 | 12:40 GMT by
Leon Pick
FXCM UK Announces $16.9 Million Settlement with FCA for Asymmetric Slippage
- Following the reporting of a loss reserve of $15 million in relation to FCA investigation during its Q3 2013 financials report, FXCM has announced that they have reached a $16.9 million settlement with the regulator.
Wednesday, 26/02/2014 | 11:09 GMT by
Ron Finberg
ESMA Launches 'One-Stop Shop' for EU Regulatory Information
- Following directives published the EU Parliament in November 2010, the European Securities and Markets Authority announced the launch of what it calls a “One-stop shop for EU regulated investment information”.
Tuesday, 25/02/2014 | 16:12 GMT by
Ron Finberg
ASIC Bans Forex FS from Offering Retail Managed Accounts for Ten Years
- The Australian Securities and Investments Commission has accepted an "enforceable undertaking" from the online FX broker after it violated its Managed Discretionary Account rules and promised 30% returns.
Tuesday, 25/02/2014 | 08:38 GMT by
Avi Mizrahi
UBS Makes Bid for Immunity from US and EU Regulators over FX Manipulation
- UBS AG, the embattled banking giant under investigation for interest-rate rigging and forex manipulation has launched a bid to seek immunity in both the United States and the European Union (EU).
Monday, 24/02/2014 | 18:48 GMT by
Jeff Patterson
US Regulators Launch Investigation against Bitcoin Amidst Mt. Gox Executive Resignation
- In a move that has been feared by proponents of bitcoin and other cryptocurrencies for months, a panel of US Regulators and the CSBS has just announced the launch of an investigation of digital currencies.
Monday, 24/02/2014 | 18:19 GMT by
Jeff Patterson
CySEC Suspends Infina Investments' CIF License, under Suspicions of Lack of Compliance
- Forex Magnates investigates the recent suspensions of two Cypriot Investment Firms, announced by the Cyprus Securities and Exchange Commission, the newest belonging to InfinaInvestments.com a now-defunct website.
Monday, 24/02/2014 | 12:46 GMT by
Steven Hatzakis
Canada’s FINTRAC Imposes Fine on Questrade for Serious AML Breaches
- Canada’s regulatory authority that governs money laundering has reported details of a fine it imposed on Toronto based broker, Questrade, in 2011. The broker was found guilty of breaching nine serious rulings.
Saturday, 22/02/2014 | 19:33 GMT by
Adil Siddiqui
SEC Fines Credit Suisse $196 Million for Unregistered Cross-Border Brokerage Services
- The SEC has announced formal charges against Credit Suisse for the violation of US Federal Securities laws through the illegal providing of cross-border brokerage and services to unregistered US clients.
Friday, 21/02/2014 | 18:50 GMT by
Jeff Patterson
The Lies FX Sales People Tell and How Brokers Can Avoid Getting into Trouble
- Forex Magnates interviewed the co founders of a consulting firm specializing in the training of Forex and Binary Options sales personal, Karinza, and they exposed the problems specific to the industries.
Friday, 21/02/2014 | 08:04 GMT by
Avi Mizrahi
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