May 03, 2018 BY Valentina Kirilova

ASIC permanently bans former authorised representative from providing financial services

ASIC announced that it has permanently banned Queensland financial adviser Mr Michael Gordon Taylor from providing financial services. Mr Taylor was an authorised representative of Morgans Financial Limited from 10 March 2004 until 21 September 2015. Between 2007 and 2015, Mr Taylor borrowed approximately $1.2 million from 16 clients. Borrowing from clients involved a conflict…

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May 03, 2018 BY Mariela Naydenova

Telegram calls off its long-awaited public ICO

Telegram was is probably one of the most successful ICOs in history. The messaging app that offers unique texting features such as encryption, called off its public ICO after it raised the staggering amount of $1.7 billion in the presale round. Reportedly, the money raised is from a small, very private group of investors. The…

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Oanda acquired CVC
May 02, 2018 BY LeapRate Staff

Forex broker OANDA acquired by private equity firm CVC

Private equity firm CVC Capital has made another acquisition in the online space. Several months after partnering with Blackstone in the $4 billion buyout of online payments specialist Paysafe, CVC has acquired retail FX broker OANDA. The price and other terms of this deal, however, were not announced. The press release follows: CVC Capital Partners…

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May 02, 2018 BY Valentina Kirilova

FCA warns against Finance Lenders firm

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 Finance Lenders. Finance Lenders 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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May 02, 2018 BY Valentina Kirilova

ASIC welcomes AFCA authorisation

Australian regulator ASIC announced that it welcomes the authorisation by the Minister for Revenue and Financial Services of the operator of the new single external dispute resolution (EDR) scheme for consumer and small business complaints: the Australian Financial Complaints Authority (AFCA). AFCA will be able to deal with complaints about financial firms including banks, credit…

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May 02, 2018 BY Valentina Kirilova

MAS requires OTC derivatives to be centrally cleared to mitigate systemic risk

The Monetary Authority of Singapore (MAS) announced that it will introduce regulations to require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs), with effect from 1 October 2018. Central clearing will make the trading of OTC derivatives in Singapore safer as it mitigates counterparty credit risks inherent in these trades. The mandatory clearing…

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May 02, 2018 BY Valentina Kirilova

NEX Group market volumes continue to drop in April

NEX Group plc (LON:NXG), a financial technology company at the centre of global markets, announced today its trading statement for the month of April 2018. Spot FX results were USD83.4 billion, 10% lower than previous month. US Treasury’s numbers were also down with 18% MoM. The complete results can be seen in the table below:…

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May 02, 2018 BY Valentina Kirilova

FXCM launches FX pair spread comparison tool

Retail forex broker FXCM Group, LLC announced that it has today  launched an Effective Spread Widget. The widget shows the FXCM quoted spread for its top FX pairs, overlaid with the spread at which trades were filled (the Effective Spread), the difference being clearly displayed in a table key. FXCM launches a brand new tool…

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