On November 21, 2016, the new Methodology of the Moscow Exchange Indices Calculation will come into force, the text of which was disclosed on the Moscow Exchange website on August 29, 2016. The methodology has been amended to include new provisions with regard to a liquidity factor. This factor has been added to the weighting…
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The Securities and Exchange Commission (SEC) has charged a former movie producer and self-proclaimed private equity executive with defrauding investors in hedge funds and using the money he stole to support his extravagant lifestyle. According to the SEC’s complaint, David R. Bergstein of Hidden Hills, California, stole millions from investors in 2011 and 2012 and…
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ASIC has accepted voluntary undertakings (VUs) from NSW based registered liquidators, Mr Riad Tayeh and Mr David Solomons, both of deVries Tayeh – DVT Group. ASIC’s ongoing industry wide project to test compliance with registered liquidators' obligations to lodge documents and publish notices required under the law continues to identify practitioners not complying with basic…
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Literally some several hours after Trump's shock victory, markets continue to react on the news. The pound dipped in and out of negative territory in volatile trade as the dollar recovered against a basket of currencies on Monday, but firmed in a remarkable snapback later on Thursday. Oil edged higher, Asian shares rallied on Thursday.…
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Following an ASIC investigation, Mr. Frederick Leslie Hansen, formerly of Clear Island Waters on the Gold Coast, has been sentenced in the Southport District Court to 4 years imprisonment. On 14 October 2016, Mr. Hansen pleaded guilty to two counts of dishonestly using his position as a director of Global Rule Pty Ltd and was…
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Retail Forex broker FXCM Inc (NASDAQ:FXCM) has released details of its 2017 executive compensation plan, and it seems that it is placing a large premium on repaying in full its loan from Leucadia National Corp (NYSE:LUK). On November 7, FXCM's Board of Directors approved the company’s 2017 Incentive Bonus Plan for Founder-Directors and Specified Executive Officers for the…
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Hong Kong Forex retail forex broker KVB Kunlun Financial Group Ltd (HKG:8077) reported its Q3 results, and they were not pretty. And the stock market responded in kind. After seeing its business shrink by 21% in Q2, KVB saw its revenues plummet another 20% in Q3 to HK$ 66.6 million (USD $8.6 million) - its…
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CME Group (NASDAQ: CME) the world's leading and most diverse derivatives marketplace announced today that on Sunday January 8, 2017 for trade date Monday, January 9, 2017 (and pending final regulatory approval), trading will commence in COMEX’s London Spot Gold and London Spot Silver Futures. These innovative contracts will provide market participants with exposure to…
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Europe based brokerage Admiral Markets announced that there have been some changes in the company's payment policy concerning the US dollar. As of 3 November 2016, the company's clients will no longer be able to deposit and withdraw in USD using Neteller payment system. Clients should refer to Admiral Markets' Deposits & Withdrawals section to…
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Oil reversed early losses of almost 4% and was traded above $46 a barrel on Wednesday, as the market recovered from the initial reaction to Donald Trump's surprise victory in the U.S. presidential election. The dollar however steadied and European stocks pared losses. Brent crude (LCOc1) was up seven cents at $46.11 a barrel by…
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