UK FCA issues several warnings against unauthorised companies and clone firms LeapRate

January 23, 2020 BY Valentina Kirilova

UK FCA issues several warnings against unauthorised companies and clone firms

The UK watchdog FCA has issued some more warnings against unauthorised companies this week. The names of the latest additions to the regulator’s warning list are the companies Concept Loans, Kodimax, Traders Watch, Omega Crypto, as well as the clone firms Tradition-Finance, Avibonds, and Cashute Ltd. According to the regulator, the fraudsters are using or…

January 22, 2020 BY Steffy Bogdanova

Propex Derivatives Pty Ltd caught spoofing, agrees to pay $1 million

Commodity Futures Trading Commission (CFTC) issued an order for $1 million against Propex Derivatives Pty Ltd (Propex), Australia-based proprietary trading firm, implicated in a spoofing scheme. The company was involved in unlawful trading activities on the U.S. commodities market through former trader in the period of July 2012 to March 2017. Propex agreed to pay…

January 22, 2020 BY Mariela Naydenova

Vodafone moves from Facebook's Libra to M-Pesa

Although Facebook is going forward with their cryptocurrency project Libra (although it was delayed several times), some of the project's key members have continued to leave. After Mastercard and PayPal withdrew as members of the Libra Association, Vodafone is the latest member to leave Facebook's cryptocurrency project. The news comes directly from The Libra Association…

January 22, 2020 BY Mariela Naydenova

Huobi Group expands into the crypto brokerage services for institutional investors

Huobi Group announced that it's expanding into brokerage services that target institutional investors in the cryptocurrency sector. The platform called Huobi Brokerage was unveiled during WEF 2020 in Davos. The new business line will become part of the Group's Global Institutional Business (GIB) that Huobi launched last November to monitor its institution-related businesses. The institution…

January 22, 2020 BY Valentina Kirilova

CoinShares Group reports significant growth in 2019

CoinShares Group, digital asset manager and a digital asset investing company, today announced its continued momentum and significant growth in 2019 for its exchange traded product (ETP) line of business. Highlights include: A 97% increase in assets under management $1.58 billion in trade volume across 8 of CoinShares' ETPs Trade volume for ETPs per day…

January 22, 2020 BY Valentina Kirilova

CySEC withdraws Stocks Forex Ltd’s CIF licence

The Cyprus regulator CySEC announced today that it has decided to withdraw the CIF licence of a company named Stocks Forex Ltd. The authorisation number 283/15 is suspended in whole, due to the following reasons: the company's own funds and initial capital were below the minimum allowed, the company did not submit its capital adequacy…

January 22, 2020 BY Valentina Kirilova

Daily Market News: Markets bounce back

Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for January 22, 2020. Markets have bounced back this morning following yesterday’s coronavirus influenced sell off. China has taken measures to contain the virus including minimising public gatherings in the worst affected areas. This is in contrast to…

January 22, 2020 BY Steffy Bogdanova

LiquidityBook’s revenue and client growth results for 2019

LiquidityBook reported yesterday record growth for sales and clients in 2019. LiquidityBook is a New York based fintech firm that provides Software-as-a-Service (SaaS) for buy- and sell-side trading solutions. The company attributes its record gains and accomplishments to the increasing interest of investment managers in its portfolio, order and execution management systems (POEMS) platform. The…

January 22, 2020 BY Valentina Kirilova

FCA fines Hall and Hanley Limited £91,000

The UK regulator FCA announced earlier today that it has imposed a financial penalty in the sum of £91,000 to the company Hall and Hanley Limited (HHL). HHL is a claims management company (CMC) whose registered address was formerly 1st Floor, Building 4, Universal Square, Devonshire Street North, Manchester M12 6JH. With effect from 1…

January 22, 2020 BY Valentina Kirilova

Cboe Global Markets suggests U.S. equity market structure reform

Exchange holding company Cboe Global Markets, Inc. (Cboe: CBOE) has released several recommendations in its latest report “Cboe’s Vision: Equity Market Structure Reform”. The company suggests a few updates to the U.S. equity market structure that it believes would further strengthen markets and enhance the overall trading environment for long-term investors without harming the markets.…