regulation
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
ICAP & Thomson Reuters Announce CFTC Approval of Swap Execution Facilities
- The CFTC continues to demonstrate its efficiency in approving SEFs, with the applications of two major instititutional firms, ICAP and Thomson Reuters being granted temporary SEF status on the same day.
Monday, 30/09/2013 | 13:50 GMT by
Steven Hatzakis
CFTC Orders R.J. O'Brien To Pay $125,000 For Misuse Of Omnibus Account
- The US Commodity Futures Trading Commission has issued R.J. O'Brien with a $125,000 fiscal penalty for violation of customer protection regulations, in this case due to funds transferred between omnibus accounts.
Sunday, 29/09/2013 | 14:35 GMT by
Andrew Saks McLeod
CFTC Censures Daniel K. Steele For $1.7 Million FX Fraud
- The US Commodity Futures Trading Commission has today issued proceedings against mid-western FX firm Champion Management International and its owner Daniel K. Steele for carrying out a $1.7 million FX fraud.
Thursday, 26/09/2013 | 20:12 GMT by
Andrew Saks McLeod
GTL Tradeup, an Australian FX Broker Goes Belly Up Down Under
- Australian FX broker, GTL Tradeup has filed for bankruptcy. The regulated FX broker contacted the regulator on the 25th of September, informing them that its Board of Directors had resolved to place the business into Liquidation.
Thursday, 26/09/2013 | 00:47 GMT by
Adil Siddiqui
CFTC Orders ICAP To Pay $65 Million Penalty For Manipulating Yen LIBOR
- Interdealer broker ICAP has been issued with a $65 million civil monetary penalty by the CFTC today for manipulation, false reporting and attempting to manipulate the Yen LIBOR rate.
Wednesday, 25/09/2013 | 13:18 GMT by
Andrew Saks McLeod
Diversification On The Agenda - OANDA Purchases Social Trading Network Currensee
- OANDA, one the handful of retail FX firms still operating in America, has today announced that it is to purchase Currensee, alluding to a potential need for diversification of service offering to stay in the market.
Tuesday, 24/09/2013 | 22:00 GMT by
Andrew Saks McLeod
SDP FX Platform Development Simplified - Caplin Systems Launches Core FX Motif
- London-based institutional FX technology provider Caplin Systems has today announced the release of Core FX Motif, a set of tools designed to establish ready-made starting points for building single-dealer platforms.
Monday, 23/09/2013 | 11:05 GMT by
Andrew Saks McLeod
CFTC Fines IB Foremost Trading $400,000 For Supervision Shortcomings
- American introducing broker Foremost Trading has been issued with a $400,000 civil monetary penalty by the CFTC as a result of deficiencies in its supervision of the handling of trading accounts.
Monday, 23/09/2013 | 10:21 GMT by
Andrew Saks McLeod
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