Pan European financial regulator ESMA has announced the dates from which it will enforce new rules governing online trading and brokerage. We would note, however, that the new rules - banning Binary Options in the EU and restricting leverage on CFDs as outlined in more detail below - are temporary and will only be in…
Read moreSouth Africa is on its way to become a cryptocurrency trading "heaven" and acts as a center of digital assets on the oldest continent. The Merkle just reported that one of the well known asset management companies, Sygnia, is looking to launch a cryptocurrency exchange in the third quarter of 2018. Africa has long been…
Read moreThe U.S. Securities and Exchange Commission (SEC) has announced charges against an employee of prominent investment bank Goldman Sachs (NYSE:GS) with repeatedly using his access to highly confidential information in order to place illicit and profitable trades in advance of deals on which the bank was providing investment banking advisory services. According to the SEC’s complaint,…
Read moreFCA regulated Retail Forex, CFDs and Spread Betting broker London Capital Group Holdings plc (NEX:LCG) has announced its results for the full year 2017, indicating steady if unspectacular improvement in the second half of the year. However, the company continues to lose money, albeit at a slower rate. And, most interestingly, the company separately announced that…
Read moreThe UK Financial Conduct Authority (FCA) has put out details of the cloned firm VBM Capital Partners. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Be aware that the scammers may give out other false details or mix them…
Read moreASX Limited (ASX) has announced that it has partnered with Australian Technology Innovators Pty Limited (ATI), the parent company of InfoTrack, an Australian provider of eConveyancing technology and services, to enter the national electronic property settlement market. Sympli Australia Pty Ltd (Sympli), owned 50:50 by ASX and ATI, has applied to become an Electronic Lodgment…
Read moreThe Commercial Affairs Department (CAD) of the Singapore Police Force and Monetary Authority of Singapore (MAS) have advised the public to exercise extreme caution when dealing with unregulated online trading platforms. CAD and MAS have received an increasing number of complaints from members of the public involving losses from unregulated online trading platforms over the…
Read moreFCA regulated social trading focused broker Ayondo has announced that Mita Natarajan, former Senior Vice President at SGX, will join the company on 1st June 2018 as the Chief Business Development Officer and will be based in Singapore. With Ms. Natarajan’s extensive industry experience and knowledge, the Board of Directors of ayondo believes that this…
Read moreThe Hong Kong Securities and Futures Commission (SFC) has informed that it has reprimanded and fined Hang Seng Investment Management Limited (HSIM) $3 million for its failure to comply with regulatory requirements on cash management involving SFC-authorized funds. The SFC’s disciplinary action followed an independent review jointly agreed by the SFC and HSIM. The review…
Read moreAfter the high profile head of its Prime Brokerage unit was fired amid allegations of sexual misconduct, Bank of America has apparently seen a slew of other senior and junior personnel jump ship. Omeed Malik, who had joined BofA from MF Global in 2012 and had risen up the ranks to head the bank's successful Prime…
Read more