CySEC announces lapse of CIF license of Reserve Invest Ltd LeapRate

August 09, 2017 BY Valentina Kirilova

CySEC announces lapse of CIF license of Reserve Invest Ltd

The Cyprus Securities and Exchange Commission (CySEC) announced that, on 1st August 2017, the CIF Reserve Invest (Cyprus) Ltd (‘the Company’), which provided investment services via the domain www.reserve invest.com, renounced its authorisation, pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the ‘Law’). Therefore,…

August 09, 2017 BY Valentina Kirilova

FCA warns against Britain Loans 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 firm The Britain Loan / Britain Loans / Britt Loans. The Britain Loan / Britain Loans / Britt Loans is not authorised by the FCA but has…

August 09, 2017 BY Valentina Kirilova

SIX Swiss Exchange and Nasdaq to develop distributed ledger technology

SIX Swiss Exchange and Nasdaq, Inc. (Nasdaq:NDAQ) today have announced that Nasdaq, in collaboration with its technology partner Chain, will provide distributed ledger technology (DLT) for a Minimum Viable Product (MVP) for SIX’s OTC structured products business. The solution will integrate with several systems currently managed by SIX and utilize the DLT capabilities at the…

August 09, 2017 BY Valentina Kirilova

FCA’s decision to fine and ban Charles Palmer former CEO of Adviser Network upheld

On 8 August 2017, the Upper Tribunal upheld the Financial Conduct Authority’s (FCA) decision to ban Charles Palmer, former CEO of Financial Limited and Investments Limited (“the Firms”), from performing FCA significant influence functions. The Tribunal also upheld the FCA’s decision to impose a financial penalty of £86,691 on Mr Palmer. Mr Palmer was the…

August 09, 2017 BY LeapRate Staff

Exclusive: Formax UK posts £700,000 loss ahead of FCA brokerage launch

LeapRate Exclusive... LeapRate has learned that the FCA regulated arm of China based online brokerage group Formax Group is getting set to make a large marketing push in the UK and Europe. To that end, the company's UK subsidiary Formax Prime Capital (UK) Limited has incurred a 2017 fiscal year (ended March 31) loss of £707,834, on…

August 09, 2017 BY Valentina Kirilova

EEX to reintroduce auctions for EU Aviation Allowances (EUAA)

The European Energy Exchange (EEX) has published the 2017 auction calendar for EU Aviation Allowances (EUAA) in consultation with the EU Commission and the Member States taking part as well as the competent German and Polish authorities. EEX will carry out the auctions comprising a total volume of 4,005,000 EUAA from 27th September to 6th…

August 09, 2017 BY Valentina Kirilova

The Hive Project reaches initial $5m investment target

New working marketplace and Hive Project Invoice Financing Fund (HVNX) combine to facilitate SME access to working capital The Hive Project, the first cryptocurrency-based invoicing platform focused on providing liquidity pools for SMEs, today announced it has exceeded its initial milestone of raising over BTC 1,500 — equivalent to more than USD $5M, from over…

August 09, 2017 BY Valentina Kirilova

HKEX releases first half 2017 results, revenue up 10% YoY

Hong Kong Exchanges and Clearing Limited (HKEX) just submitted the unaudited consolidated results of the Group for the six months ended 30 June 2017. Revenue and other income for the six months ended 30 June 2017 (1H 2017) was 10 per cent higher than the same period in 2016 (1H 2016). Key highlights for the period…

New BIS report cites “internalization” by large banks for 7% volume drop

August 09, 2017 BY Valentina Kirilova

SEC publishes report on access to capital and market liquidity

The SEC Division of Economic and Risk Analysis (DERA) today published a report describing trends in primary securities issuance and secondary market liquidity, and assessing how those trends relate to post-crisis regulatory reforms. The report was requested by Congress as part of the FY2016 appropriations process. The report includes a survey and analysis of recent…

August 09, 2017 BY Valentina Kirilova

INTL FCStone reports 3Q financial results, revenues up 13% YoY

Commodities and Forex broker INTL FCStone Inc. (NASDAQ:INTL) today announced its financial results for the fiscal year 2017 third quarter ended June 30, 2017. The highlights include: Operating Revenues up 13%, to $197.6 million Net Income of $12.7 million EPS of $0.66 Sean M. O'Connor, CEO of INTL FCStone Inc., stated: Despite continued depressed volatility…