FCA delays FX and CFD leverage rules after ESMA decides to review the industry LeapRate

June 29, 2017 BY LeapRate Staff

FCA delays FX and CFD leverage rules after ESMA decides to review the industry

UK regulator the Financial Conduct Authority (FCA) has dropped another bombshell. After shocking the Forex and CFD brokerage sectors in December with surprise proposals to rein in leverage and bonus payments to retail clients, the FCA today announced that it will be delaying the finalization of its proposals now that pan-European regulator ESMA announced that…

June 29, 2017 BY Valentina Kirilova

HKEX invites views on proposed after-hours trading enhancements

Hong Kong Exchanges and Clearing Limited (HKEX) has published a consultation paper to seek views on its proposed after-hours trading (T+1 Session) enhancements. The proposed changes include: Extending the T+1 Session for equity index futures from the current 5:15 pm to 11:45 pm to 5:15 pm to 3:00 am the following day in two phases;…

June 29, 2017 BY LeapRate Staff

LCG turnaround continues, Revenues up 50% in 2016

Retail Forex, CFDs and Spread Betting broker London Capital Group Holdings plc (LON:LCG) has released its 2016 full year results, indicating that the company is indeed well along in its restructuring and turnaround, but still has a long way to go. On the top line, LCG was able to generate healthy revenue growth following its rebranding…

G20 group adopts tough FATF KYC/AML rules: Debate is how to implement

June 29, 2017 BY Valentina Kirilova

ESMA planning its own pan-European rules for Forex and CFD trading

The European Securities and Markets Authority (ESMA) has issued a statement updating on its work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors. ESMA is likely to look at enacting rules limiting leverage for Forex and CFD trading, banning of client bonuses, as well…

June 29, 2017 BY Valentina Kirilova

SafeCharge returns Tsach Einav to CFO role, replacing Tim Mickley

Payments technology provider SafeCharge (LON:SCH) just announced that Tsach Einav has been appointed as Group Chief Financial Officer effective from 1 September 2017, replacing Tim Mickley, and Board member effective immediately. Einav, aged 43, joined SafeCharge in 2006 as Chief Financial Officer and has played a key role in SafeCharge's corporate development as well as…

June 29, 2017 BY Valentina Kirilova

Malaysia and Australia seal agreement on fintech cooperation

On 27 June 2017 the Malaysia Securities Commission (SC) and ASIC signed a Co-operation Agreement which provides a framework for cooperation to support and understand financial innovation in each economy. Malaysia is a vibrant fintech destination. In 2015, Malaysia became the first Asia Pacific nation to regulate for equity crowdfunding. High levels of digital adoption…

June 29, 2017 BY Valentina Kirilova

Hong Kong SFC consults on new OFC Rules and OFC Code

The Securities and Futures Commission (SFC) announced that has launched a two-month consultation on the detailed legal and regulatory requirements applicable to the new open-ended fund company (OFC) structure. The OFC structure will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form. The consultation…

June 28, 2017 BY LeapRate Staff

Marbury Advisors Inc and Tracy Lee Thomas hit with $4.4 million fine for fraudulently soliciting customers

The U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge Loretta C. Biggs of the U.S. District Court for the Middle District of North Carolina entered an Order of Final Judgment by Default against Defendants Tracy Lee Thomas (a/k/a Treyton L. Thomas, a/k/a Trayton L. Thomas, a/k/a Trey Thomas, a/k/a Tray Thomas, a/k/a T.L. Thomas), formerly…

June 28, 2017 BY LeapRate Staff

NEX Optimisation’s triReduce compression service hits quadrillion dollar milestone in notional principal eliminated

London based NEX Group PLC (LON:NXG), formerly ICAP plc, has announced that participants in its NEX Optimisation unit, which helps clients reduce complexity and optimise resources across the transaction lifecycle, have eliminated over $1 quadrillion ($1,000 trillion) in OTC derivative notional principal using its triReduce compression service, since first introduced in 2003. triReduce is a…

June 28, 2017 BY admin

FCM Advantage Futures appoints Carlos Rodriguez as CFO

High-volume futures broker Advantage Futures announced today the appointment of financial exchange industry veteran Carlos Rodriguez as Chief Financial Officer. Mr. Rodriguez brings over two decades of industry experience to Advantage. Mr. Rodriguez will oversee all accounting and treasury functions at the firm, reporting directly to CEO Joe Guinan. Prior to Advantage, Mr. Rodriguez worked for…