ASIC
June 01, 2021 BY Steffy Bogdanova

ASIC bans Union Standard director John Martin for 10 years

The Australian watchdog found that Martin was involved Union Standard’s failures to ensure that the financial services covered by its licence were provided efficiently, honestly and fairly. It was also found that Martin affected Union Standard’s failure to ensure TradeFred and EuropeFX complied with financial services laws. ASIC discovered that Martin did not implement or…

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May 31, 2021 BY Steffy Bogdanova

Saxo Markets appoints Richard Douglas as CEO of Hong Kong business

Richard Douglas commented: I am very honoured to take on this appointment. Saxo is on an exciting journey of transformation globally, and in Hong Kong we have a huge opportunity to become more relevant for more people, through our expanded offerings for investors and continued commitment to improving the client experience. As China’s economy and…

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eToro
May 31, 2021 BY Steffy Bogdanova

eToro partners with Racing League

Dylan Holman, global sponsorship senior manager at eToro commented: We are delighted to add eToro Racing to our global sponsorship programme. As a leading investment platform with over 20m registered users worldwide, we believe sponsorships are a powerful tool for delivering financial education and opening up the global markets to everyone. We are excited to…

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Bank of Japan Governor Kuroda casts doubt on Bitcoin
May 31, 2021 BY Steffy Bogdanova

Bank of Japan Governor Kuroda casts doubt on Bitcoin

Kuroda went on to differentiate Bitcoin from stable coins which are known to have their value backed up by assets. Stable coins are also obliged to meet regulatory governance codes and legal standards, meaning that the Governor is under the impression that they could well become a suitable trading alternative in the near future. Volatility…

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fine
May 28, 2021 BY Steffy Bogdanova

EU imposes €6.45 million fine on ICAP for yen cartel

The EU competition enforcer said in a statement: Today’s decision, correcting the procedural error and including a detailed reasoning on the fine calculation, imposes fines on the three entities of ICAP having participated in the five infringements at the time. The ruling from 2015 accused ICAP of Libor rigging the yen in several cartels with…

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CFTC
May 28, 2021 BY Steffy Bogdanova

LJM charged with commodity pool fraud by CFTC

The CFTC now claims that these worst-case scenarios were in fact not based on historical scenarios at all and that LJM’s legitimate internal historical scenarios displayed losses far greater than 40% for each strategy. The complaint goes on to allege that around the tail-end of 2017 through to February 2018, LJM dramatically deviated from its…

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Forex Weekly Look Back
May 28, 2021 BY Steffy Bogdanova

Forex Weekly Look Back: HSBC winds down US retail banking business, Playtech to sell Finalto for $210 million

The governor of the Bank of Korea suggested that cryptocurrency trades from South Korean citizens are a potential threat to the country’s financial system. Increased trading of virtual assets – known for their volatile pricing – is threatening to leave the nation’s financial system at risk of instability, according to the Governor of the Bank…

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Bank of Korea to curtail leveraged crypto trading
May 28, 2021 BY Steffy Bogdanova

Bank of Korea to curtail leveraged crypto trading

These statements from Lee may not come as a surprise from those who know the governor’s policies, the chief who takes the title of being the second-longest-serving in his position having previously taken a similar stance on cryptocurrency in recent years. Lee has suggested that the central bank needs to engage in “close cooperation to…

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May 28, 2021 BY Steffy Bogdanova

Iconic Funds to list Bitcoin ETP on SIX

The new Iconic Funds Physical Bitcoin ETP, available in two trading currencies, will offer investors a selection of 32 Bitcoin ETPs and structured products at SIX to choose from. The number of ETP issuers now rises to nine, following the recent addition of ETC Group as well as CoinShares and SEBA Bank in the first…

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