Further to our earlier exclusive report that Cyprus-based retail forex broker Exness has made an application to the UK financial regulator FCA to increase the scope of its FCA-licensed arm, Exness Europe Limited (Exness UK), the company today announced that Exness UK has received approval from the FCA to upgrade its permissions to a full scope, "IFPRU…
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LeapRate Exclusive... Australian retail forex broker AxiTrader has taken an interesting step in becoming more of a global broker, while beefing up its FCA-regulated UK operation. LeapRate has learned that AxiTrader has hired industry veteran Paul Kiff to its London team as the new Global Head of Trading. That function will operate our of London, instead of…
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On 20 June 2017, Kazakhstan Stock Exchange and Moscow Exchange announced that have signed a memorandum of understanding (MoU) on working together to promote exchange markets in Russia and Kazakhstan. The MoU was signed by Alina Aldambergen, CEO of Kazakhstan Stock Exchange, and Alexander Afanasiev, CEO of Moscow Exchange, during a visit to Moscow by…
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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 British Lenders Limited. British Lenders Limited is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…
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The Hong Kong Securities and Futures Commission (SFC) has banned Mr Fok Chi Kin from re-entering the industry for eight months from 20 June 2017 to 19 February 2018. Fok was a vice president of JPMorgan Funds (Asia) Limited (JPFL) providing sales support before he tendered his resignation on 8 March 2016. He left JPFL…
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ASIC announced that has banned former financial adviser, Mr Robert Gunner, of Brisbane, Queensland from providing financial services for seven years. Mr Gunner was employed as a representative of GuardianFP from 15 February 2013 until 4 May 2016. ASIC found that between January 2014 and February 2016, Mr Gunner failed to comply with financial services…
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LeapRate Exclusive… Even for the largest global retail forex brokers, breaking into the coveted UK online trading market isn't easy. LeapRate has learned via regulatory filings that GMO-Z.com Trade UK Limited, the FCA regulated brokerage arm of Japanese retail forex giant GMO Click Holdings Inc (TYO:7177), posted a £1.8 million (USD $2.3 million) net loss for Fiscal 2017,…
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The U.S. Securities and Exchange Commission today announced additional charges in an enforcement investigation involving the improper handling of American Depositary Receipts (ADRs) by a Wall Street firm’s securities lending desk. The SEC’s order finds supervisory failures by Anthony Portelli, a former managing director and head of operations at broker-dealer ITG Inc., a unit of…
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The new service, TARGET instant payment settlement (TIPS), will enable citizens and firms to transfer money between each other in real time and will be available around the clock, 365 days a year. The Governing Council of the European Central Bank (ECB) has decided to develop a new service for the settlement of instant payments.…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Dash Loans. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…
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