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…
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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…
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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…
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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…
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BNP Paribas Asset Management (BNPP AM) has just announced the appointment of Jane Ambachtsheer as Global Head of Sustainability. She will report to Frédéric Janbon, CEO and Head of Investments at BNPP AM. She will join on 27 August and will be based in Paris. In her new role, Jane Ambachtsheer will be responsible for…
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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…
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The following article was written by Dr. Omar Zerafa and Dr. Emerson Bonello of Valletta, Malta based law firm Zerafa Advocates. Malta has been referred to as “the blockchain island” since it announced its intention to regulate the crypto industry to become the natural choice for business ventures in the sector. On the 26th June, Maltese…
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Moscow Exchange (MOEX:MOEX) announced that it it has signed a statement of commitment to the FX Global Code, pledging to support robust, fair, liquid, open and transparent foreign exchange markets. Moscow Exchange first announced its intention to join the Global Code in January 2018. The FX Global Code (Global Code) is a set of global…
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The Hong Kong Securities and Futures Commission (SFC) has released the findings of its annual Asset and Wealth Management Activities Survey, previously known as the Fund Management Activities Survey, which shows that the asset and wealth management business in Hong Kong amounted to $24,270 billion (US$ 3,108 billion) as at 31 December 2017. To provide…
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International multi-asset broker HotForex has announced that it has now added the new and innovative MetaTrader 5 trading platform, available for a variety of devices operating on Windows, Android and iOS systems. A HotForex spokesperson commented, HotForex is aware that every trader is different, and is always looking to ensure its clients have the tools they…
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