New Broadridge portal automates and transforms the MBS Trade Assignment Process
December 18, 2018 BY Valentina Kirilova

The future of FinTech – 8 trends that will disrupt the financial landscape

The financial services industry has never been as exciting as other technology-driven genres. Things, however, changed a few years back, when blockchain technology and cryptocurrencies seized the imagination of the public, and more importantly, the imagination of entrepreneurs, investors, and the venture funding establishment. The new buzzword around town became “FinTech”, a bit sexier than…

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Woodbridge Group of Companies LLC and former owner Robert H. Shapiro fined $1 billion
December 18, 2018 BY Valentina Kirilova

Blue Star Trading and owner charged with ongoing forex and commodity fraud

The Commodity Futures Trading Commission (CFTC) has just announced that it has filed a complaint against Dro Kholamian and his company, Blue Star Trading, LLC. Blue Star Trading has fraudulently solicited potential clients to trade through accounts they would manage leveraged off-exchange FX currency and commodity futures contracts, but instead the company has misappropriated those funds. According to CFTC, Kholamian…

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FXCM Group to launch new products on the DGCX Exchange
December 18, 2018 BY Valentina Kirilova

FXCM Group to launch new products on the DGCX Exchange

Retail forex broker FXCM Group, LLC has just announced that it has signed a Memorandum of Understanding (MoU) with The Dubai Gold and Commodities Exchange (DGCX). Both sides confirmed that they intend to launch new products on the DGCX Exchange. Les Male, Chief Executive Officer of DGCX, stated: It is our aim to ensure that we continue…

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FCA to reform the way banks charge for overdrafts
December 18, 2018 BY Valentina Kirilova

FCA to reform the way banks charge for overdrafts

The Financial Conduct Authority (FCA) has just announced that it intends to change how banks charge for overdrafts. Alongside this, the FCA will extend protections for other high-cost credit products. Andrew Bailey, Chief Executive of the FCA commented: Today we are proposing to make the biggest intervention in the overdraft market for a generation. These…

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Bitcoin Suisse and Worldline partner to expand crypto acceptance at PoS
December 18, 2018 BY Valentina Kirilova

Experts comment on Switzerland’s status as a blockchain and DLT friendly country

Following the Swiss government’s release of an official report on Friday, advocating for decentralised financial transactions to have a place in the Swiss legal code, could this new strategy strengthen Switzerland’s status as a blockchain friendly country? LeapRate reminds that, a few days ago, the Federal Council adopted a report on the legal framework for…

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fca warning clone firm
December 17, 2018 BY Valentina Kirilova

FCA warns against Creditstar UK Limited clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Creditstar UK Limited. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics…

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cysec cif license
December 17, 2018 BY Valentina Kirilova

CySEC warns against Ace Trade Options and Binary Trade Plus websites

Cyprus financial regulator CySEC has become aware that the websites acetradeoptions.com and binarytradeplus.com, do not belong to an entity which has been granted an authorization for the provision of investment services. acetradeoptions.com and binarytradeplus.com are performing investment activities without the authorization to do so. Both websites illegally use the name and license number of the…

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December 17, 2018 BY Valentina Kirilova

SEC says international support critical to bring sham ICOs to justice

The SEC is determined to eradicate the rampant fraud that persists within the Initial Coin Offering (ICO) space. Steven Peikin, co-director of the Securities and Exchange Commission’s enforcement division, recently delivered a speech to the Harvard Law School’s Program on International Financial Systems in which he made known his agency’s desire to clean up the…

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G20 group adopts tough FATF KYC/AML rules: Debate is how to implement
December 17, 2018 BY Valentina Kirilova

FCA publishes new rules and fees for CMCs

The Financial Conduct Authority (FCA) has just published its new rules and fees that will apply to all claims management companies (CMCs) from April 2019. Jonathan Davidson, Executive Director of Supervision – Retail and Authorisations at the FCA, said: We’re ready to take over regulation on 1 April 2019. The new regime aims to drive…

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