Deutsche Bank
July 20, 2018 BY LeapRate Staff

Deutsche Bank hit with $75 million fine for improper handling of ADRs

The U.S. Securities and Exchange Commission (SEC) has announced that two U.S.-based subsidiaries of German financial services giant Deutsche Bank AG (FRA:DBK) will pay nearly $75 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). The case stems from a continuing SEC investigation into abuses involving pre-released ADRs. In proceedings against Deutsche…

Read more
fca warning clone firm
July 20, 2018 BY Valentina Kirilova

FCA warns against General Asset Management clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm General Asset Management. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics…

Read more
fma warning
July 20, 2018 BY Valentina Kirilova

New Zealand FMA warns against Prosperous International Limited

The Financial Markets Authority (FMA) has just issued a warning against a company called Prosperous International Limited, operating at website www.forexnz.co.nz. Prosperous International Limited is not registered on the Financial Service Providers Register to provide financial services in New Zealand. Their customers will not have access to a Dispute Resolution Scheme. Therefore the regulator has…

Read more
cysec cif license
July 20, 2018 BY Valentina Kirilova

CySEC suspends CIF license of Retail FX broker IGM Forex Ltd

Cyprus financial regulator CySEC has suspended the CIF license of Limassol-based FX broker IGM Forex. CySEC stated that its decision to suspend IGM Forex was based on suspected violations of rules regarding the company's own funds, and the company's capital adequacy ratio. The full text of the CySEC notice follows: 20 July 2018 CYSEC Decision…

Read more
Canadian Securities Administrators CSA
July 20, 2018 BY Valentina Kirilova

CSA highlights common deficiencies in issuers’ continuous disclosure

The Canadian Securities Administrators (CSA) has published Staff Notice 51-355 Continuous Disclosure Review Program Activities for the fiscal years ended March 31, 2018 and March 31, 2017, a biennial report that summarizes CSA staff’s ongoing review of reporting issuers’ (issuers) continuous disclosure and highlights common deficiencies and best practices. Among other issues, we continue to…

Read more
china yuan
July 20, 2018 BY LeapRate Staff

Chinese yuan sliding as Government adds stimulus

The following article was written by Jasper Lawler, Senior Market Analyst at FCA regulated broker LCG. The US dollar has been on a tear against the Chinese yuan/renminbi since mid-April, and in just the past two weeks has skyrocketed to a one-year high. The main impetus of yuan weakness has been the US-China trade war. Further…

Read more
July 20, 2018 BY Valentina Kirilova

“Prediction Market” companies fined $3 million for illegally trading binary options

The Commodity Futures Trading Commission (CFTC) today announced that on July 5, 2018, Senior Judge Royce C. Lamberth of the U.S. District Court for the District of Columbia issued an Opinion and Order (Order) against Defendants Intrade The Prediction Market Limited (Intrade) and Trade Exchange Network Limited (TEN), Irish companies based in Dublin, Ireland, requiring them to pay, jointly…

Read more
CFTC offices
July 20, 2018 BY Valentina Kirilova

CFTC reduces risk for customer funds held by derivatives clearing organizations

The Commodity Futures Trading Commission (CFTC) has unanimously approved an order that allows registered derivatives clearing organizations (DCOs) to invest customer euro cash in French and German sovereign debt. Allowing DCOs to invest customer euro cash in high-quality European sovereign debt poses less risk than the current practice of holding customer euro cash at commercial…

Read more