Forex Industry News this past week at LeapRate was a combination of key executive moves, M&A, and fundraising. Which FCA regulated brokers raised money, ahead of new ESMA regulations which become effective in a few weeks' time? Which was the latest business sold by Saxo Bank, which is clearly realigning its operations ahead of a…
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UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company IvoryOption. IvoryOption is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which require authorisation:…
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The Hong Kong Securities and Futures Commission (SFC) has announced that it has welcomed the appointment by the Financial Secretary of Mr James C Lin and the re-appointment of Dr William Wong Ming-fung, SC as Non-Executive Directors for a term of two years with effect from 1 August 2018. Dr Wong was first appointed as…
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Two former senior bankers have been convicted for manipulating the Euro Interbank Offered Rate (EURIBOR) at the height of the financial crisis following an investigation and prosecution brought by the Serious Fraud Office. Phillipe Moryoussef, formerly of Barclays Bank, was found guilty on 29th June 2018 by a jury. The conviction follows a guilty plea…
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The Financial Industry Regulatory Authority (FINRA) has informed the public that it has processed an unprecedented amount of market activity through the first six months of 2018, averaging a record 57.9 billion electronic records per day during the period — a 62% increase over the average daily volume in 2017. FINRA’s pioneering cloud strategy has…
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Retail FX brokerage group eToro has announced the appointment of Lord Stanley Fink as Special Adviser to the business globally. The company said that Lord Fink will advise eToro as it sees increasing interest in cryptoassets from institutional investors around the world. He will take on a part-time role working closely with eToro’s management including co-founder…
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UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company LS Traders. LS Traders is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
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LeapRate Exclusive… LeapRate has learned via regulatory filings that FCA regulated Retail and Institutional FX and CFD brokerage Valutrades Limited has raised £1.4 million (USD $1.9 million) in additional capital from its controlling shareholders Anil Bahirwani and Mohandas Lakhiani. Valutrades was originally set up about six years ago as the FCA-regulated UK business of Anil…
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The Hong Kong Securities and Futures Commission (SFC) announced that amendments to the Securities and Futures (Professional Investor) Rules (PI Rules) have come into operation today. The categories of professional investors have been expanded to include holding companies which wholly own another corporation which is itself a qualified professional investor. Directors of holding companies should…
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Testing, Inspection and Certification (TIC) provider, Bureau Veritas informed that it has verified the very first Certified Green Bond for solar energy in Brazil. The bond has been issued by distributed solar energy company, Faro Energy in response to the rapid growth of the solar market in Brazil and will be used to finance distributed…
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