regulation
ITG Licenses TwoFour FX For High-Volume Trade Processing Capabilities
- ITG has today announced that it has licensed TwoFour FX's front-to-back operations in order to improve high-volume trade processing capability.
Thursday, 17/10/2013 | 14:21 GMT by
Andrew Saks McLeod
On Second Thought – Newly Minted CySec Licensed Firms Renounce Regulation
- Back in July, Forex Magnates reported that a record 17 firms had been granted financial licenses by Cypriot securities regulator, CySec. We are now seeing that some of these firms are beginning to rethink these plans.
Thursday, 17/10/2013 | 08:28 GMT by
Ron Finberg
Aussie Rob Receives Five-Year Ban As ASIC Clamps Down On FX Training Software
- Australian regulatory authority ASIC has today issued a five year ban to Robert Wilson for the misleading marketing and sale of software which indicates when to enter and exit trades with red and green lines.
Thursday, 17/10/2013 | 07:21 GMT by
Andrew Saks McLeod
UK Financial Watchdog FCA Confirms FX Market Manipulation Investigation
- The alleged market manipulation carried out by participants in the FX markets has seen regulators take the case on-bard. The UK’s regulatory authority, the FCA, has officially confirmed it is investigating the matter in a statement today.
Wednesday, 16/10/2013 | 18:40 GMT by
Adil Siddiqui
Cyprus FX Firms Receive Cold Reception On Applying For Non-Cyprus Bank Accounts
- Cyprus' large retail FX industry is beginning to experience increasing difficulties when applying for bank accounts in which to hold client money.
Wednesday, 16/10/2013 | 15:58 GMT by
Andrew Saks McLeod
Knight Capital To Pay $12 Million Penalty To SEC For Catastrophic 2012 Trading Incident
- The Securities and Exchange Commission has today announced that Knight Capital Group has agreed to pay $12 million for violating the market access rule subsequent to an investigation relating August 2012's trading incident
Wednesday, 16/10/2013 | 15:53 GMT by
Andrew Saks McLeod
NFA Issues IBFX With $600,000 Penalty For FX Execution Reporting Inadequacies
- Signaling a return to work for the NFA, IBFX has been censured for failing to report trade execution data between 2010 and 2011, a period in which it had applied to withdraw from NFA membership pre-Monex acquisition.
Wednesday, 16/10/2013 | 06:02 GMT by
Andrew Saks McLeod
Bank of Japan To Consider Local Private FX Sector To Manage Forex Reserves
- The BoJ has nearly $1.25 Trillion USD worth of reserves which it may be considering to allocate a portion of to the local FX Industry in an effort to outsource some of its monetary policy efforts.
Tuesday, 15/10/2013 | 15:11 GMT by
Steven Hatzakis
Market Manipulation Probe Continues: JP Morgan FX Trader Placed Under Spotlight
- JP Morgan spot FX trader Richard Usher has today been named as one of the subjects of the FCA's investigation into manipulation of benchmarks, which is being conducted in conjunction with the FBI.
Tuesday, 15/10/2013 | 14:57 GMT by
Andrew Saks McLeod
Danal takes on payment processing for first Chinese online lottery site
Tuesday, 15/10/2013 | 00:00 GMT by
FMAdmin Someone
NFA Ousts AlphaMetrix 360 Due to Financial Woes, Monitoring System in Question
- In a letter to FCMs, the NFA announced that it will no longer be using AlphaMetrix360 to collect segregated funds data. This occurs as AlphaMetrix is in the midst of a credit crunch, with its clients funds in question.
Monday, 14/10/2013 | 08:21 GMT by
Ron Finberg
FBI Steps In: United States Launches Criminal Investigation On FX Manipulation
- Following recent investigations by the FCA and FINMA relating to FX LIBOR benchmark manipulation by financial institutions, the US has opened a criminal investigation on the matter involving the FBI.
Monday, 14/10/2013 | 08:17 GMT by
Andrew Saks McLeod
Dwolla puts the breaks on its Bitcoin-related services
Monday, 14/10/2013 | 00:00 GMT by
FMAdmin Someone
Spot The Difference: CySec Issues Warning Stating That Depaho FX Is Unregulated
- CySec has today issued a warning to potential investors explaining that Depaho FX is not licensed to operate in its jurisdiction, and that it is a different company to similarly-named Depaho Ltd, which is regulated.
Thursday, 10/10/2013 | 15:38 GMT by
Andrew Saks McLeod
Russia's Central Bank Widens Free-Float Range to 3 Rubles, Lessening FX Intervention Need
- Russia's plan to float its currency by 2015 is becoming a reality and will lessen the degree of intervention in its managed foreign exchange regime and follows its new role of financial markets watchdog.
Thursday, 10/10/2013 | 08:20 GMT by
Steven Hatzakis
Effects of US Government Shutdown on FX Industry: CFTC Asks NFA to Update Members
- The CFTC is currently operating with limited scope following the governmental shutdown, and has informed NFA to send a message on its behalf to members. Antideficiency Act provides relief for CFTC & SEC Continuity.
Tuesday, 08/10/2013 | 14:10 GMT by
Steven Hatzakis
FINMA Ready to Bark and Bite: Investigates FX Market Manipulation by Swiss Institutions
- The Swiss Financial Market Supervisory Authority investigates Swiss firms for Foreign Exchange rate manipulation. Regulators in other countries join as multiple banks outside the region may be implicated too.
Friday, 04/10/2013 | 21:01 GMT by
Steven Hatzakis
After 4XP Receives CySec Warning - Other EU Regulators to Follow?
- Cypriot financial regulator, CySec, has issued a warning to investors about Forex Place (4XP), stating that it isn’t permitted to offer financial services in the country and has never been authorized by CySec.
Thursday, 03/10/2013 | 08:39 GMT by
Ron Finberg
Buying Opportunity? Bitcoin Plunges on Silk Road Seizure
- Prices of bitcoin are plunging today on word that anonymous black market website Silk Road has been seized by US authorities. Has it created a buying opportunity, or is this just the start of website crackdowns?
Wednesday, 02/10/2013 | 18:41 GMT by
Ron Finberg
Former Director Of Sonray Capital Markets Faces Jail For Part In $46M Demise
- ASIC announces end to the high-profile case involving failed Australian introducing broker, Sonray Capital Markets, at one time one of the nation's largest white labels and referrer of business to Saxo Bank.
Wednesday, 02/10/2013 | 11:00 GMT by
Andrew Saks McLeod
CFTC Loses Chief of Enforcement Responsible For Bringing Hundreds of Cases in Recent Years
- The CFTC says goodbye to Chief of Enforcement David Meister, who during his three year tenure was responsible for a plethora of enforcement actions. Ms. Gretchen L. Lowe is to succeed his position.
Tuesday, 01/10/2013 | 09:29 GMT by
Steven Hatzakis
CFTC Issues FXDD With $275,000 Penalty For Violating Capital Adequacy Rules
- Regulatory authorities in the United States are becoming notorious for insistance that FX firms maintain sufficient net capital. Today, the CFTC issued FXDD a $275,000 penalty for contravening such rules.
Monday, 30/09/2013 | 20:20 GMT by
Andrew Saks McLeod
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