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Settlement
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
Education Center
7 Things We Wish Someone Had Told Us Before We Started Trading
Education Center
Nexo Enhances Data Security Credentials With SOC 3 Assessment
Thought Leadership
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
Education Center
7 Things We Wish Someone Had Told Us Before We Started Trading
Education Center
Nexo Enhances Data Security Credentials With SOC 3 Assessment
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CryptoCurrency
FTX and CFTC Settle 19-Month Lawsuit for $12.7 Billion, Pending Court Approval
2024-07-17T10:52:47.701+02:00
The settlement includes $8.7 billion in restitution and $4 billion in disgorgement.
The CFTC did not seek a civil penalty because FTX already faces significant liability.
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Payments
What the Rejection of the Visa and Mastercard Settlement Signals for the Payments Industry
2024-07-03T17:16:24.833+02:00
5 key takeaways from Judge's denial of $30B Visa and Mastercard deal.
Swipe fee settlement rejected: A new era of scrutiny in the payments industry.
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Institutional FX
Project Meridian: FX Institutions Join Forces to Tackle Settlement Challenges
2024-06-17T11:09:13.774+02:00
The joint initiative explores interoperability between RTGS systems and DLT platforms.
Meridian FX aims to enhance efficiency and innovation in wholesale payments.
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Retail FX
TradeZero America to Pay $250,000 in FINRA Settlement over Influencer Marketing Missteps
2024-06-11T09:20:43.222+02:00
The regulator identified wrongdoings related to social media influencer promotions.
The firm has agreed to the sanctions and has revised its supervisory procedures.
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Damian Chmiel
Retail FX
Robinhood Moves to Put Meme Stock Controversy to Rest
2024-05-30T08:46:40.961+02:00
The company is close to settling a lawsuit regarding the retail trading mania from 2021.
Brokerage was accused of market manipulation by restricting trading in stocks like GameStop.
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Retail FX
Sigma Broking Settles NFA Complaint, Agrees to $150K Fine
2024-05-29T09:08:50.054+02:00
The introducing broker violated NFA rules related to anti-money laundering audits and supervision.
Sigma neither admitted nor denied the allegations.
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CryptoCurrency
Genesis Hits the Wall with $2 Billion Settlement, Shown the Door in New York
2024-05-20T21:28:28.000+02:00
New York AG Letitia James secures settlement to aid 29,000 defrauded investors.
The AG pursues crypto oversight, having obtained $2.5 billion from various platforms so far.
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Institutional FX
Wall Street Will Transform Next Week: T+1 Settlement Begins
2024-05-20T11:38:15.444+02:00
The transition will take place next Tuesday, May 28.
Financial institutions and stock exchanges are preparing for the change, which may bring new risks.
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Payments
Why Retailer Fury Over Swipe Fee Settlement Could Spark a Credit Card Revolution
2024-04-30T18:00:00.000+02:00
A look into the fight for the future of credit cards.
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Retail FX
CySEC Reaches €50,000 Settlement with Local Company for Potential Violations
2024-04-02T11:49:20.402+02:00
Noteris Services Ltd settles with the regulator after a 6-month-long inspection.
The issue concerns the lack of necessary authorizations to operate.
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Damian Chmiel
Payments
A Truce in the Swipe War: How Visa and Mastercard Settlements Could Reshape Payments
2024-03-27T18:00:00.000+02:00
Will these fee reductions translate into lower prices for consumers?
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CryptoCurrency
Crypto Exchange OKX Pays €304,000 Fine in Malta for Compliance Failures
2024-03-27T12:34:20.842+02:00
Okcoin Europe, the crypto exchange's local branch, settled with the MFSA.
The regulator considered the exchange's "goodwill" when imposing the fine.
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Retail FX
Ex-Director at LCF Hit with FCA Ban for Misleading Investors
2024-02-13T12:03:26.606+02:00
The British market watchdog fined Floris Huisamen £31,800.
His company was accused of presenting misleading financial promotions, causing investor losses.
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Retail FX
MetaTrader Plugins Developer Reaches €60,000 Settlement with CySEC
2023-08-29T10:01:15.255+02:00
CySEC has announced a settlement with ISPASS Technologies.
The company offers MetaTrader's integration and trading plugins development.
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CryptoCurrency
FTX Updates Settlement Terms for 'Small Estate Claims' after US Trustee's Disapproval
2023-08-21T15:35:15.303+02:00
The exchange criticized the US Trustee for objecting to the settlement.
Meanwhile, FTX and Genesis recently agreed to a payment of $175 million to resolve their dispute.
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Retail FX
Freedom Finance Pays €50K to CySEC over ‘Potential’ AML Non-Compliance
2023-07-13T15:36:21.029+02:00
The firm operates the brands Freedom Finance, Freedom Broker and Freedom 24.
CySEC announced €100K settlement with BCS Cyprus on Wednesday.
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Institutional FX
CySEC Reaches €100k Settlement with Institutional Broker BCS Cyprus
2023-07-12T20:07:21.170+02:00
The regulator probed BCS's compliance with market abuse rules between 2019 and 2021.
CySEC has withdrawn at least five CIF licenses since the start of 2023.
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Retail FX
iS Prime and ThinkMarkets Settle Exclusivity Dispute on Court Trial Day
2023-05-10T21:32:13.928+02:00
The dispute dates back to iS Prime's acquisition of ThinkMarkets' arm in 2017.
iS Prime said it demanded a retraction from ThinkMarkets.
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Institutional FX
90% of Market Participants See Elevated Risk in Moving to T+1 Settlements
2023-03-23T11:06:00.655+02:00
The US decided to move from T+2 to T+1 settlements in May 2023.
According to the UK's market players, it may increase the risk of trade failures and penalties.
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Institutional FX
US Regulator Adopts Rules to Enforce Single-Day Securities Settlement
2023-02-15T22:50:40.135+02:00
The SEC sets May 28, 2024, as the compliance date.
The securities regulator started enforcing the current T+2 cycle in 2017.
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Retail FX
After 6 Years Global Brokerage Settles for $6.5m in Class Action
2023-02-06T14:06:15.252+02:00
Global Brokerage's case against its former investors began in 2017.
After six years, the brokerage decided to settle for 37% of the potential damage suffered by traders.
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Institutional FX
FINRA Slams $165k Fine on Instinet for Data Inaccuracy and Poor Supervision
2022-12-12T22:09:12.094+02:00
Instinet published 54 inaccurate monthly reports between 2015 and 2019.
The broker also under-reported about 5% of the total covered orders during the period.
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Institutional FX
Credit Suisse Agrees to Pay $234m Settlement in France
2022-10-24T12:30:01.026+02:00
Swiss banking giant settles court case with the French prosecutors.
In October, the institution approved settlements worth more than $700 million.
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Institutional FX
Credit Suisse to Pay $495m Settlement Related to 2008 Financial Crisis
2022-10-17T11:34:46.829+02:00
Settlement is related to the 'Residential Mortgage Backed Securities' part of the business.
Credit Suisse, in the past, paid a settlement that was ten times higher for the same misconduct.
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Brokers
CySEC Settles with Royal Forex for €270K over ‘Possible Violations’
2020-10-06T14:49:31.000+02:00
The regulator did an on-site investigation of the brokerage in March 2019.
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See more
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