regulation
NFA Arbitrators Side with FXCM in Twin Cases, Award them $100
- FXCM comes out on top yesterday after the NFA ruled in two arbitration claims against the broker. Allegations by claimants of fraud and breach of contract were dismissed, while FXCM was compensated on its counterclaim.
Thursday, 21/11/2013 | 13:51 GMT by
Ron Finberg
Regulator vs Machine! MAS Issues Penalty Against Trader For Improper Use Of Devices
- The Monetary Authority of Singapore issues a $50,000 civil enforcement penalty against forex trader for contravening the Securities and Futures Act with relation to using deceptive and manipulative devices.
Wednesday, 20/11/2013 | 07:06 GMT by
Andrew Saks McLeod
FCA Halts Boiler Room 'First Capital Wealth' From Duping Investors
- The UK's financial watchdog, the Financial Conduct Authority has intervened to prevent a suspected boiler room from operating. The regulator enforced a worldwide freeze of assets for First Capital Wealth.
Tuesday, 19/11/2013 | 22:14 GMT by
Adil Siddiqui
NADEX Undergoes Rule Enforcement Review By CFTC - Clean Bill Of Health Confirmed
- The US Commodity Futures Trading Commission has today released the results of an enforcement review which it conducted within binary options exchange NADEX, concluding that the company maintains adequate practices.
Tuesday, 19/11/2013 | 18:40 GMT by
Andrew Saks McLeod
The Chinese Central Bank Commits to Yuan Convertibility, Hastening FX Reforms
- The Central Bank of China's Governor also vowed to "pull out all stops to deepen financial sector reforms" in a new 300 words guidebook to the financial reforms released publicly in China this Saturday.
Tuesday, 19/11/2013 | 15:18 GMT by
Avi Mizrahi
CFTC Orders MF Global to Pay $1 Billion in Restitution in Connection with Customer Losses
- In one of the largest recent failures of a Futures Commission Merchant that has been the subject of controversy following its demise, victims have been awarded a degree of justice as the defendant is forced by law to make good.
Monday, 18/11/2013 | 17:22 GMT by
Steven Hatzakis
Japan Binary Options Industry October Profitability Report: Profits Above Forex
- Among the new regulations being applied to the Japanese binary options industry is the requirement for firms to publish account performance. Ratios include overall payouts as well as the monthly account performance.
Monday, 18/11/2013 | 10:35 GMT by
Ron Finberg
North Of The Border: Ontario Securities Commission Sets Out Trade Reporting Rules
- The Ontario Securities Commission has announced a scope rule relating to the means by which OTC derivatives firms must provide transparent data to trade repositories, in order to achieve greater transparency
Friday, 15/11/2013 | 10:41 GMT by
Andrew Saks McLeod
Orchestrator Of New Zealand's Largest Ever Ponzi Scheme Sent To Jail For 10 Years
- David Ross, CEO of Ross Asset Management, has today been sentenced to 10 years and 10 months in jail for orchestrating the largest and highest value Ponzi scheme in the history of New Zealand, with $115 million lost.
Friday, 15/11/2013 | 08:58 GMT by
Andrew Saks McLeod
CFTC Publishes Final Rules Pertaining to How FCMs and DCOs Hold Customer Funds
- The Financial watchdog of the the U.S Commodity Futures and Derivatives markets has published a set of finalized rules - some of which go into effect on January 14, 2014 and referencing others that are already in effect.
Friday, 15/11/2013 | 00:35 GMT by
Steven Hatzakis
New Jersey Division of Gaming Enforcement rules on payment processing
Thursday, 14/11/2013 | 00:00 GMT by
FMAdmin Someone
Obama Quick to Appoint Timothy Massad to Chair CFTC, as Agency Looses Key Executives
- Following departures at the CFTC, U.S. President Barack Obama announced yesterday the appointment of a new Chairman of the Commodities Futures Trading Commission, as his intention to maintain strict regulations remains.
Wednesday, 13/11/2013 | 14:16 GMT by
Steven Hatzakis
Californian FX Fraudster Ordered To Pay $17 Million In Penalties, Plus Jail Term
- The US Commodity Futures Trading Commission has today announced that it has obtained a federal court order against FX fraudster Lyndon Parilla, who must pay $17 million, plus sit out a 97 month jail term.
Tuesday, 12/11/2013 | 20:27 GMT by
Andrew Saks McLeod
NFA Files Complaint Against Euro Pacific Holdings For Fraud & Deception
- The NFA has charged Euro Pacific Holdings and its CEO Alexander Blum with fraudulent business activities, providing false information, conducting FX business with non-Members of NFA, and using a deficient disclosure document.
Saturday, 09/11/2013 | 16:52 GMT by
Andrew Saks McLeod
AlphaMetrix Saga Continues, CFTC Obtains Restraining Order Over Fraud
- After falling under the NFA's wrath for failing to pay rebates to fund partners, the CFTC has received a court order against AlphaMetrix Group for its involvement of misappropriation and financial fraud.
Thursday, 07/11/2013 | 09:35 GMT by
Ron Finberg
Fraudster Who Led MMA Forex In Dubai Sentenced To Two Years In Jail
- Malik Noureed Awan has been sentenced to two years in jail following a guilty verdict at a court in Dubai on allegations of fraud. Mr Awan's company, MMA Forex had taken deposits from customers that it could not return.
Thursday, 07/11/2013 | 08:40 GMT by
Andrew Saks McLeod
FINRA Hands out $1.8 Million Fine to TD Ameritrade Clearing and SG Americas
- US regulator, FINRA, fines two brokers a total of $1.8 million for breaking rules relating to reporting of options trades. The securities regulator found the two firms guilty of breaches and supervisory failings.
Thursday, 07/11/2013 | 03:04 GMT by
Adil Siddiqui
Commodity Futures Trading Commission Waves Goodbye To Commissioner Bart Chilton
- Outspoken critic of the commodities and futures trading industry over which he presides, Bart Chilton announced surprisingly that he has submitted his resignation as CFTC Commissioner to the White House.
Wednesday, 06/11/2013 | 16:09 GMT by
Avi Mizrahi
More Scrutiny for US FX and Futures Industry - CFTC to Force IBs, CPOs and CTAs to Register with NFA
- US federal agency that governs financial derivatives, the CFTC, has put forward new proposals for regulated financial services firms. Under new proposed rules, IBs, CPOs and CTAs will be required to become and maintain membership with the NFA.
Wednesday, 06/11/2013 | 00:24 GMT by
Adil Siddiqui
Volante Technologies devises tool to assist with SEPA card regulations
Wednesday, 06/11/2013 | 00:00 GMT by
FMAdmin Someone
7 Banks Sued Over FX Rates Manipulation; HSBC Latest to Announce Cooperation with Authorities
- A retirement fund from Massachusetts alleges that the international FX manipulation investigation exposes a conspiracy that violates US antitrust laws, hurting the returns on trades and pension plans.
Tuesday, 05/11/2013 | 11:48 GMT by
Avi Mizrahi
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