regulation
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
CFTC Revokes Registrations of Forex CTA Veruus Wealth Management after Theft
- The Denver-based Forex CTA and CPO just lost its titles as the CFTC yanked back its registrations after civil theft was found to have been committed, involving a Forex Managed account with some $339,517 of investors funds.
Thursday, 20/02/2014 | 22:31 GMT by
Steven Hatzakis
The Truth Behind the Libor Scandal and the Altering of the Financial Landscape
- Recently, the news outlets have been focused on the word ‘Libor’, which up until lately was neither widely spoken of, though it now threatens to forever change the financial landscape of fx and rates.
Thursday, 20/02/2014 | 18:42 GMT by
Jeff Patterson
American Regulatory Overreach? ILQ Stands Up to the NFA
- Two former employees of the NFA now at ILQ, accuse the agency of trying to use them as scapegoats as NFA Associate General Counsel said: "you should receive $50,000 bonuses for taking the bullet on this."
Thursday, 20/02/2014 | 17:00 GMT by
Avi Mizrahi
US Regulator Charges Two Fraudsters for Running an FX Ponzi Scheme
- US financial markets regulator, the CFTC, has charged Ron McCullough and David Mayhew with fraudulent solicitation, false statements, and misappropriation of more than$1.6 Million of customer funds.
Wednesday, 19/02/2014 | 23:11 GMT by
Adil Siddiqui
Horizon Software Fortifies Asset Suite with Advanced Algorithmic Pre-Trade Platform
- Horizon Software, a software and front-end solutions provider announced the release of its new multi asset-class pre-trade algorithmic platform, specializing in risk management, via a company statement.
Tuesday, 18/02/2014 | 22:13 GMT by
Jeff Patterson
CySEC Addresses FX Inconsistencies with EMIR Reporting, Temporary Lapses
- CySec has released a statement to Cyprus Investment Firms and UCITS Management Companies regarding the inconsistencies of EMIR regulatory matters with regards to fx, coupled with trade repository lapses.
Tuesday, 18/02/2014 | 18:39 GMT by
Jeff Patterson
Safer Trading Environment as Nigerian Central Bank Upgrades Biometric Security Proceedings
- Nigeria’s banking and financial trading environment goes from strength to strength as it competes on a global level. New biometric security measures could mean the opening up of Nigeria to global markets.
Tuesday, 18/02/2014 | 16:50 GMT by
Adil Siddiqui
HELEX Taps LSEG’s UnaVista Post-Trade Platform for Regulatory Reporting
- Hellenic Exchanges (HELEX) has chosen the London Stock Exchange Group’s UnaVista platform – a versatile post-trade processing engine for all assets – to handle its trade repository and regulatory needs.
Tuesday, 18/02/2014 | 00:25 GMT by
Jeff Patterson
ESMA to the Rescue - What’s a Derivative in Relation to EMIR?
- With Valentine's day drawing to a close in Europe, Cupid strikes in the form of a new ESMA request. The EU Commission has received a letter from ESMA seeking clarity on the exact definition of a derivatives in relation to new reporting measures under EMIR.
Friday, 14/02/2014 | 21:55 GMT by
Adil Siddiqui
Benjamin Wilson Gets 7 Years Imprisonment For Fraud, Forgery and Deception
- The UK’s FCA has reported that it has issued one of the most lengthiest sentences to a fraudster whose practise cost investors more than £20 million. Benjamin Wilson pleaded guilty as he receives a 7 year prison sentence.
Friday, 14/02/2014 | 20:55 GMT by
Adil Siddiqui
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