sec fraud
March 05, 2018 BY LeapRate Staff

Craigslist ad scammer Lon Friedrichsen (aka Kummer aka Richardson) charged with solicitation fraud

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action in the U.S. District Court for the Southern District of New York, charging Lon Olen Friedrichsen of Alton, Iowa, with fraud and failing to register with the CFTC as a Commodity Trading Advisor, as required. Friedrichsen, as alleged, also solicited…

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DGCX and DIEDC team up to strengthen Dubai’s Islamic finance economy
March 05, 2018 BY LeapRate Staff

INTL FCStone named market maker for DGCX Sharia-compliant Spot Gold Contract

Commodities and Forex broker INTL FCStone Inc (NASDAQ:INTL) has announced that its Dubai-based subsidiary, INTL FCStone Commodities DMCC will serve as the market maker for the Dubai Gold & Commodities Exchange (DGCX) Sharia-compliant Spot Gold contract, which will be available for trading beginning on March 29, 2018. The release of this contract is a first for DGCX, and will…

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SFC fines
March 05, 2018 BY LeapRate Staff

Deutsche Bank FX trader Guillaume Adolph fined and banned by the FCA

UK financial regulator the Financial Conduct Authority (FCA) has announced that it has fined Guillaume Adolph £180,000, and banned him from performing any function in relation to any regulated financial activity. Mr. Adolph formerly worked at Deutsche Bank AG (FRA:DBK) as a short-term interest rate derivatives trader, trading products referenced to CHF (Swiss Franc) and JPY…

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MT5 bombay stock exchange bse
March 05, 2018 BY LeapRate Staff

MT5 to support demo access to Asia's oldest stock exchange Bombay BSE

Trading platform developer MetaQuotes has announced that its popular multi-asset platform MetaTrader 5 (MT5) now supports demo access to Asia's oldest stock exchange, the Bombay Stock Exchange, or BSE. MT5 traders can open an account on the MetaQuotes-BSE-Demo server and start receiving quotes of BSE featured securities. Also, traders can apply technical analysis tools and perform back-testing…

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LCG trading floor
March 05, 2018 BY LeapRate Staff

Exclusive: LCG goes private in £5 million Loan Notes deal, to Charles-Henri Sabet

LeapRate Exclusive... LeapRate has learned that FCA regulated Retail FX, CFDs and spreadbetting broker London Capital Group is going to be taken private by CEO Charles-Henri Sabet. Mr. Sabet and his investor group GLIO Holdings already control the publicly traded parent company London Capital Group Holdings PLC (which we'll call 'Holdings'), with a 78.1% holding. However…

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exness fx volumes
March 05, 2018 BY LeapRate Staff

Exness February FX trading volumes $290.5 billion, down 13% MoM

After reporting record trading volumes of $334 billion to open 2018 in January, FCA and CySEC licensed Retail FX broker Exness saw something of a slowdown during February, with volumes retreating by 13% in February to $290.5 billion. We would note, however, that there were two less trading days in 28-day February than January (20 trading…

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ICO fraud
March 05, 2018 BY LeapRate Staff

$50 million securities fraud charges lead to insolvency for UK broker Beaufort Securities

UK FCA financial regulator the FCA has announced that following an urgent application by it, the High Court has appointed Russell Downs, Douglas Nigel Rackham and Dan Yoram Schwarzmann of PricewaterhouseCoopers (PwC) as joint administrators of Beaufort Securities Limited, and joint special administrators of Beaufort Asset Clearing Services Limited. The FCA took this action following an assessment…

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forex customer complaint
March 05, 2018 BY LeapRate Staff

ASIC consulting on creation of new Australian Financial Complaints Authority (AFCA)

After the bill to create a new Complaints authority passed Australia's parliament on February 14 - mandating that the new authority to be named Australian Financial Complaints Authority (AFCA) be in action by November 2018 - Australia's financial regulator ASIC today released a draft updated Regulatory Guide 139, Oversight of AFCA for public consultation. The Bill to establish…

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nfa office
March 05, 2018 BY LeapRate Staff

Introducing broker Fortune Trading Group and owner Jonathan Schuler banned for pumping commissions

National Futures Association (NFA), the self-regulatory organization for the U.S. derivatives industry, has announced that it has permanently barred Chicago, Illinois guaranteed introducing broker (GIB) Fortune Trading Group, Inc. (FTG) from membership and from acting as a principal of an NFA Member. The NFA also barred FTG's sole principal and an associated person Jonathan Schuler from membership and from…

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