ASIC suspends Australian Golden Securities Ltd’s AFS licence LeapRate

December 10, 2019 BY Valentina Kirilova

ASIC suspends Australian Golden Securities Ltd's AFS licence

Australian regulator ASIC has announced earlier today that it has suspended the Australian financial services (AFS) licence of Melbourne-based financial services provider Australian Golden Securities Ltd (formerly known as AFS Capital Securities Ltd). ASIC found that Australian Golden Securities failed to: lodge its accounts and audit report as a licensee for the year ending 30…

December 10, 2019 BY Valentina Kirilova

More unregulated firms warnings from UK's watchdog this week

The UK Financial Conduct Authority (FCA) has put out details of more unregulated firms this week. The names of the latest additions to the regulator’s warning list are the companies Arrows Financial Corporation, Blue Moon Loans, Pool Forex Investments, as well as clone firm Crypt Mill Broker Limited. According to the regulator, this firms are…

ATFX teams up with major payment providers for LATAM and the Middle East

December 10, 2019 BY Valentina Kirilova

Visa and MoneyGram team up for cross-border debit card push payments

MoneyGram International, Inc. (NASDAQ:MGI) will team up with Visa Inc. (NYSE:V) to enhance its person-to-person (P2P) debit card deposit service internationally. The pilot program will initially focus on payments to Spain and to the Philippines. Plans are to expand to other jurisdictions soon thereafter. MoneyGram, like its direct competitor Western Union, has always tried to…

December 10, 2019 BY Valentina Kirilova

OANDA hires Greg Niebank as Head of Product

Online multi-asset trading services and currency data and analytics, OANDA Global Corporation, has just announced that it has appointed Greg Niebank as Head of Product. Niebank will be based in London and will be responsible for introducing additional trading instruments, client-focused partnerships and platform enhancements. A 21-year veteran in the electronic trading industry, Niebank has…

December 10, 2019 BY Valentina Kirilova

New BIS report cites “internalization” by large banks for 7% volume drop

The Bank for International Settlements (BIS) has noticed a growing trend of large bank platforms over the past three years to send less foreign exchange volume into the network for processing. A new report cites low volatility as reason that large banks in the Interbank system are “internalizing” more of their customer client capital flows…

December 10, 2019 BY Mariela Naydenova

Deutsche Bank ordered to reveal Donald Trump's financial records

President Trump has faced yet another legal backlash, as Deutsche Bank received an order to disclose his financial records. The decision that took place last week is just the latest one that is going to be decided on by the Supreme Court. Trump had 7 days to appeal the ruling that rejected his bid to…

December 09, 2019 BY Valentina Kirilova

AccessFintech teams up with Citi, Credit Suisse, Goldman Sachs and J.P. Morgan

AccessFintech has just announced that it has teamed up with with four leading investment banks and it has completed its production launch and is live with a new industry use case, to meaningfully enhance and improve the market’s settlement exception resolution process. Citi, Credit Suisse, Goldman Sachs and J.P. Morgan have jointly launched an industry-wide…

December 09, 2019 BY Valentina Kirilova

China to carry out the initial real-world trial of its central bank digital currency

China is aiming to carry out the initial real-world trial of its central bank digital currency (CBDC), according to local news outlet Caijing. The initial test for the CBDC is scheduled for Shenzhen before the end of the year, possibly including the city of Suzhou as well. With the support of the People’s Bank of…

December 09, 2019 BY Valentina Kirilova

Daily Market News: China hopes for a swift resolution to trade talks

Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for December 9, 2019. The text below is an excerpt and does not contain the full analysis. Highlights include: November Job Report Shatters Expectations: Last month, employers added 266,000 jobs during the month, around 80,000 more than consensus…

December 09, 2019 BY Valentina Kirilova

Interview: RegTech 100 list and modernising the compliance function – muinmos Founder speaks

Automated regulatory compliance specialist muinmos has earlier this year been selected to participate in the fifth cohort of the FCA’s Regulatory Sandbox. The Danish RegTech organisation uses Artificial Intelligence (AI) techniques to help financial institutions to categorise and validate regulatory compatibility for a range of financial products and services on a national and cross border basis. Back in…