Online gaming and financial trading company Playtech PLC (LON:PTEC) has issued a Trading Update for Q3 (technically, for the period since June 30, 2018), indicating that overall not much has changed since 1H results were reported in August. The company stated that it remains on track to achieve adjusted EBITDA for 2018 in the range of…
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The Monetary Authority of Singapore (MAS) has announced that it has released a set of principles to promote fairness, ethics, accountability and transparency (FEAT) in the use of artificial intelligence (AI) and data analytics in finance. Known as the FEAT Principles, the document provides guidance to firms offering financial products and services on the responsible…
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Which FCA regulated Retail FX broker saw its CEO resign.... and move to a rival firm? Which global FX broker saw Revenues rise 54% in 2018 to a record $184 million? Who did Saxo Bank name as Deputy CEO - and successor to CEO Kim Fournais? How did recent results pan out at Hantec Markets,…
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For the second time since first introducing a three-month ban on offering binary options trading to retail clients in the EU in July 2018, European financial regulator ESMA has extended the ban for a further three months. The current ban is set to lapse on January 1, 2019. The three month extension takes the ban…
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Abacus Group, a provider of hosted IT solutions and application hosting for alternative investment firms, has just announced it has completed the acquisition of Hedgepoint Solutions, a boutique IT consulting firm based in New York City. Abacus Group has been doing some amazing things in the hosted IT space, growing not just throughout the US…
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The Federal Court of Australia today has ordered Westpac Banking Corporation (Westpac) to pay a pecuniary penalty of $3.3 million for contravening s12CC of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act) through its involvement in setting BBSW in 2010. In reasons for making the pecuniary penalty order, Justice Beach noted the legislative constraint…
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The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Commerzbank AG (Commerzbank) for numerous violations of the Commodity Exchange Act (CEA) and CFTC Regulations, including failing to supervise its Swap Dealer’s activities for more than 5 years and making misleading statements and material omissions to the CFTC concerning its…
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After freezing its assets earlier this year, Australia financial regulator ASIC has announced that it has cancelled the Australian financial services (AFS) licence of the retail OTC derivative issuer, AGM Markets Pty Ltd. AGM's brands include AlphaTrade Group and FirstIndex (firstindex.com). An ASIC investigation found AGM’s financial services business involved core elements of unconscionability and unmanaged…
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Zachary Coburn, the founder of EtherDelta, has been charged by the SEC for operating an unregistered exchange, states a press release from the financial regulator. As the SEC reports, EtherDelta is an online trading platform for ERC20 tokens. Mr. Coburn has operated EtherDelta as an unregistered national securities exchange. The smart contracts used by the…
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$125 million worth of Stellar lumens will be given away as the largest give-away ever done so far. Stellar is partnering with Blockchain, the world's top digital wallet for Bitcoin, to surprise each Blockchain wallet holders with $25 worth of Stellar Lumens. Blockchain actually does not support a lot of companies, yet Stellar is one…
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