LeapRate Exclusive... LeapRate has learned that Matthew Wright has left his CEO position at FCA regulated Retail FX broker Destek Markets, to become CEO of rival broker Capital Index. The move comes less than a year after Mr. Wright was brought in to build a team and run the UK arm of Turkey-based Destek by…
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The U.S. Securities and Exchange Commission (SEC) has charged a Wall Street stockbroker with illegally accepting more than $1 million in undisclosed kickbacks for giving certain customers preferential access to lucrative IPOs, enabling them to reap major trading profits in the secondary markets. The SEC alleges that Brian Hirsch subverted allocation policies and procedures at…
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Right after CBOE launched bitcoin futures on 10th December, 2017, CME launched their bitcoin-related derivative on the 17th December, just a week after CBOE did. With that, Bitcoin eclipsed the $20,000 mark, trading shortly for around $20,089. Now, the price has slipped a little, but the positive outlook on the crypto market continues and the…
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Global commodities broker Marex Spectron has announced that it has received approval on its application from the UK's Financial Conduct Authority (FCA) to operate an Organised Trading Facility (OTF) under MIFID II from January 3, 2018. MiFID II introduces a new category of trading venue called OTFs. An OTF is a multilateral system that is not…
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US financial regulator the Securities and Exchange Commission (SEC) has issued a notice that it is suspending trading in shares of The Crypto Company - Crypto Co (OTCMKTS:CRCW) - until early next year. Crypto Company shares have surged more than 2,700% this month, to a market cap of more than $11 billion. Crypto Company provides consulting services,…
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New Zealand Stock Exchange (NZX) announced that it will extend the trading hours of its dairy derivatives market in July 2018, subject to regulatory approval. This extension supports the New Zealand exchange’s strategy to improve global access to its dairy derivatives market in response to customer demand. The trading session will move the existing market…
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The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Incorporated $1.4 million for failing to establish a reasonable supervisory system and procedures to identify and evaluate extended settlement transactions, and for related rule violations. Extended settlement transactions have a longer time between trade and settlement than…
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The Monetary Authority of Singapore (MAS) announced today that it has issued a lifetime Prohibition Order (PO) against Mr Yeo Jiawei and a 3-year PO against Mr Kevin Scully. Both POs take effect from 18 December 2017. MAS had earlier served notices of intention to issue POs against Mr Yeo and Mr Scully in October…
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The National Securities Market Commission (CNMV) announced that it has approved a new Circular on the disclosure obligations of investment firms (IFs) regarding corporate governance and remuneration policy through their websites. The new Circular defines the obligations of IFs in terms of disclosure through their websites in relation to corporate governance and remuneration established in…
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The French regulator AMF (Autorité des marchés financiers) warned against the activities of the company International Markets Live LTD (IMarketsLive), which offers investors, more specifically targeting very young people, including high school students, subscriptions to various training courses and software solutions designed to help investors to trade on the foreign exchange (Forex) market. The company…
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