ASIC releases its third licensing activity report: 30 applications for retail FX license LeapRate

May 31, 2016 BY Mike Fox

ASIC releases its third licensing activity report: 30 applications for retail FX license

Australian Securities and Investments Commission (ASIC) today published its third report on its approach to licence applications. The six month report from July to December 2015 sets out recent regulatory outcomes achieved by ASIC in relation to Australian financial services (AFS) applications, Australian credit licence applications, liquidator registration applications, company auditor and approved SMSF auditor…

May 30, 2016 BY LeapRate Staff

France regulator AMF creates a FinTech, Innovation and Competitiveness division headed by Franck Guiader

France financial regulator Autorité des Marchés Financiers (AMF) has announced that it is creating a new FinTech, Innovation and Competitiveness (FIC) division to respond to changes in consumption patterns which have been amplified by technological innovation and the globalization of financial services. The AMF's FIC division will be charged with analyzing innovations taking place in the investment…

May 30, 2016 BY LeapRate Staff

London's new Mayor Sadiq Khan warns against becoming the world capital for money laundering

According to newly installed London Mayor Sadiq Khan, London is in danger of becoming the world's money laundering capital (if it isn't already) - and it isn't the banks and brokers to blame. In a clear dig at his predecessor and pro-Brexit campaigner Boris Johnson, Mayor Khan stated in an interview on ITV’s Peston on Sunday show…

May 30, 2016 BY LeapRate Staff

London's new Mayor Sadiq Khan warns against becoming the world capital for money laundering

May 30, 2016 BY LeapRate Staff

Saudi Arabia banks investigated for currency peg speculation products

Numerous news sources including FT.com and Gulf News are reporting that Saudi Arabia's government is investigating several of the country's banks, for creating structured products which allow traders to speculate on the possible end of the currency's US Dollar peg. Several leading international hedge funds, including Bill Ackman's Pershing Square Capital and PointState Capital are reported to…

May 29, 2016 BY LeapRate Staff

Forex Industry Week Review - SEC bans retail forex, MT4 brokers blackmailed with DDoS attacks, ADS Securities big loss, and lots more

Forex industry news at LeapRate this past week was dominated by regulatory moves, broker results, and news involving China (some good, some bad). Our most popular guest posts covered the pros and cons of fully integrated forex broker platform solutions, How easy is it to become a Prime of Prime, and Google bans Payday Loan ads –…

May 29, 2016 BY LeapRate Staff

China forex trading retreats 9% in April

Data from Chinese financial regulator State Administration of Foreign Exchange (SAFE) indicates that China's currency exchange market posted turnover of 9.79 trillion yuan (USD $1.5 trillion) in April 2016, down about 9% from 10.71 trillion (USD $1.6 trillion) yuan in March., as reported by Reuters. The amount breaks down between 1.66 trillion yuan in forex transactions between…

May 27, 2016 BY Mike Fox

CySEC suspends license of Forex brokerage UBFS Invest for capital deficiencies

The Cyprus Securities and Exchange Commission announces that, following a decision in the meeting dated 23 May 2016, the authorisation of the Cyprus Investment Firm ‘UBFS Invest powered by Moneychoice Brokers Ltd’, with number 239/14, is suspended, pursuant to section 26(2) of the Investment Services and Activities and Regulated Markets Law of 2007, as in…

May 27, 2016 BY Mike Fox

CySEC withdrawals CIF licence of Trademarker Ltd DBA SkyFX and CapitalOption

The Cyprus Securities and Exchange Commission (CySEC) announced today that on its meeting of 25th April 2016, has decided, pursuant to sections 25(1)(b),(c) and 26(4)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the Law), to wholly withdraw the Cyprus Investment Firm authorization with number 151/11 of Trademarker…