regulation
Alex Ekdeshman Ordered To Pay $2.4 Million Plus Fine For FX Fraud
Tuesday, 10/09/2013 | 16:19 GMT by
Andrew Saks McLeod
Don't Mess With The U.S. - America Leads The Way in Strict Sentencing For FX Fraudsters
- As worldwide authorities concentrate on firming up the regulatory structure of FX firms, some regimes are stricter than others. The US has demonstrated this by sentencing a Ponzi scheme to 20 years.
Tuesday, 10/09/2013 | 15:26 GMT by
Andrew Saks McLeod
SEF Approvals Continue Whilst US Regulator Scrutinizes OTC Firm
- The CFTC yesterday announced that it has approved two applications for SEF registration from DW SEF LLC and TW SEF LLC, both subsidiaries of Tradeweb.
Tuesday, 10/09/2013 | 07:36 GMT by
Andrew Saks McLeod
CFTC Goes In Depth on Risk Control Measures For Automated Trading
- Financial markets regulators in the United States have published a concept release on risk controls and system safeguards for automated trading environments. The CFTC considers this necessary at a time of rapid technological change.
Monday, 09/09/2013 | 18:06 GMT by
Andrew Saks McLeod
Dead Man Walking? Forex in the USA
- The US Forex Market is currently at an inflection point. It has been 3 years since Dodd Frank was passed.
Monday, 09/09/2013 | 16:20 GMT by
Paul Towne
TriOptima Goes Live With Verification and Reconciliation of OTC Data To DTCC
- TriOptima, ICAP's post-trade risk management infrastructure division has today gone live with its data connectivity integration with DTCC's global trade repository services in time for CFTC deadline of August 23.
Monday, 09/09/2013 | 10:28 GMT by
Andrew Saks McLeod
The Implementation of COBS10 - What To Do Next
- The implementation of COBS10, the test that firms must carry out if they provide non-advised investment services to retail clients.
Sunday, 08/09/2013 | 16:22 GMT by
Trevor Clein
HKMA Issues Consultation Paper On OTC Derivatives - IBs & MAMs In Spotlight
- Subsequent to responses from major industry organizations and financial institutions, the Hong Kong Monetary Authority has issued a consultation paper relating to how OTC derivatives should be overseen.
Sunday, 08/09/2013 | 11:46 GMT by
Andrew Saks McLeod
Lid Lifted On OakFX Boiler Room Following FMA Regulatory Warning
- Further to last week's warning issued by the New Zealand FMA urging investors to exercise extreme care when approached by OakFX, the forceful sales tactics and high pressure environment has been revealed.
Sunday, 08/09/2013 | 09:34 GMT by
Andrew Saks McLeod
Firms Fall Foul of Rulings on Safeguarding Client Funds Resulting in £7.1 Million Fine
- Yesterday, two companies were issued penalties by regulatory authorities on both sides of the Atlantic for transgressing client fund security rulings. In the UK, Aberdeen Asset Management's penalty amounted to $7.1 million
Wednesday, 04/09/2013 | 11:34 GMT by
Andrew Saks McLeod
BIS Announces Final Report By Basel Committee On Non-Centrally Cleared FX
- The Bank of International Settlements has today released the final report on margin requirements for non-centrally cleared derivatives which was issued by the Basel Committee On Banking Supevision and IOSCO.
Monday, 02/09/2013 | 12:11 GMT by
Andrew Saks McLeod
Largest Ponzi Scheme In New Zealand's History Lands Perpetrator In Jail
- New Zealand fraudster David Ross was sentenced to jail on Thursday last week for orchestrating the largest Ponzi scheme ever to have occurred in New Zealand. The FMA cites a total of $380 million in fraudulent activity.
Monday, 02/09/2013 | 09:31 GMT by
Andrew Saks McLeod
HKMA Releases Full International FX Reserve Asset And Liquidity Data
- Hong Kong's financial markets regulator the HKMA yesterday announced full statistical data on FX assets and currency liquidity within its jurisdiction for the month of July 2013.
Monday, 02/09/2013 | 07:31 GMT by
Andrew Saks McLeod
All Together Now.... 11 Regulators Submit OTC Derivatives Cross-Border Report To G20
- In the worldwide quest to standardize the means by which OTC derivatives are regulated across all nations, eleven regulatory authorities submitted a report on regulatory matters to the G20 Committee on August 30.
Sunday, 01/09/2013 | 14:23 GMT by
Andrew Saks McLeod
Monetary Authority Of Singapore Issues Consultation On Basel III Liquidity Risk
- The Singaporean regulatory authorities have issued a detailed consultation paper relating to the implementation of the proposed Basel III rulings on liquidity. An emphasis has been placed on ensuring less reliance on FX Swaps.
Sunday, 01/09/2013 | 10:02 GMT by
Andrew Saks McLeod
Spreads to Widen on Index CFDs as Italy Embraces New Trading Tax
- Italy’s government will embrace the controversial Financial Transaction Tax for Equity Derivatives on September 1st thus affecting CFD spreads on the FTSE MIB. The Italian Parliament approved the FTT bill in December 2012.
Friday, 30/08/2013 | 18:11 GMT by
Adil Siddiqui
Caveat Emptor! New Zealand FMA Warns About Attempt To Dupe Clients
- New Zealand's FMA has today issued a warning concerning what it considers to be unrealistic and misrepresenting claims regarding the potential attainable returns from investing in Phoenix Forex's Oak FX system.
Thursday, 29/08/2013 | 09:04 GMT by
Andrew Saks McLeod
Exclusive: CySec Calling – 24option Gets Regulated
- CySec continues to prove itself as the ‘go to’ destination for binary options regulation. Following the trend, Forex Magnates has confirmed that 24option has finalized its application process and became regulated.
Thursday, 29/08/2013 | 08:06 GMT by
Ron Finberg
Interactive Brokers Retracts Margin Loan Facility Following Breach Of ASIC License Terms
- Interactive Brokers has ceased providing its Australian clients with margin lending after surveillance by ASIC unearthed concerns that the company's license does not permit the extension of credit.
Wednesday, 28/08/2013 | 10:21 GMT by
Andrew Saks McLeod
Tardiness Will Not Be Tolerated – NFA Proposes Significant Increase In Late Report Fees
- The National Futures Association yesterday released full details of its proposed increase in fees for filing late FDM and financial reports from $200 to $1000 per business day, representing a significant increase.
Wednesday, 28/08/2013 | 09:57 GMT by
Andrew Saks McLeod
International FX Rate Conspiracy: Are Dealers Fixing Prices?
Wednesday, 28/08/2013 | 07:45 GMT by
Andrew Saks McLeod
US Authorities Ban PFG Auditor Permanently One Year After Firm Failure
- The US Commodity Futures Trading Commission has today announced that it has issued a permanent ban against Jeannie Veraja-Snelling, an external auditor and accountant acting for PFG at the time of its demise in July 2012.
Monday, 26/08/2013 | 19:14 GMT by
Andrew Saks McLeod
BIS Report on OTC Derivatives: Just How Much Does Market Reform Cost?
- A group of 29 institutions and authorities published a report on the effects of regulatory steps on the centralized clearing market, and sent reassuring signals about the collaterals needed to fund them.
Monday, 26/08/2013 | 12:26 GMT by
Andrew Saks McLeod
Manage Your Risks, Mate! RocoForex Forced To Submit To Additional Conditions By ASIC
- Australia's regulatory authorities continue reap value from its surveillance systems in unearthing compliance irregularities. Today, ASIC imposed additional license conditions onto RocoForex for risk management inadequacy.
Monday, 26/08/2013 | 07:50 GMT by
Andrew Saks McLeod
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