The CFTC complaint alleges that Mikkelsen engaged in fraudulent scheme to obtain at least $1.5 million from over 100 individuals and entities by getting them to invest with a supposed company called GNTFX to trade retail leveraged or margined forex. The scheme has been running at least since 2015. The complains claims that Mikkelsen misappropriated…
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WFE published a paper reviewing the academic literature on short-selling and short-selling bans, comparing the arguments against banning short-selling with the arguments in favour. “What does academic research say about short-selling bans?” almost unanimously indicates that short-selling bans are disruptive for the orderly functioning of markets. They are found to reduce liquidity, increase price inefficiency…
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New Zealand watchdog received a report that Pioneer Income representatives have made unsolicited calls to a New Zealand resident to sign up to their online trading system via their website. Pioneer Income is not registered as a financial service provider in New Zealand and is therefore not permitted to provide financial services/products to New Zealand residents.…
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Marco Menotti, Head Business Unit Banking Services, SIX said: With b.Link, SIX is creating the foundation for innovative products for participants and strengthening the Swiss financial center. We are guided by the needs of the market and our customers, and will continue to add new use cases. b.Link will initially support two applications: The “Account…
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André Lavold, CEO of Skilling Group, commented: The acquisition of the prestigious Seychelles licence is a very important milestone for our global expansion. Since our launch in Europe last year, we proudly witnessed a high demand for our product. We have worked continuously in the past 12 months to make our trading platform even faster…
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Hugh Hughes, Chairman and CEO at Koine, commented: The Koine model has always been one built upon the fundamental importance of good governance. This is the only way to attract institutional capital into the digital asset market, unlocking the huge, industry wide benefits that come with it. Delivering best practice and regulatory compliance for our…
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Dmitry Rannev, CEO of AMTS Solutions commented: We have been developing software for brokers for more than 15 years and we have accumulated a large number of integrations with liquidity providers. Placing these gateways in the MetaTrader 5 store of integrations is one of the largest company events for all these years. The MetaTrader 5…
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Spokesperson and the Head of Huobi Global Business, Ciara Sun, said: The last few quarters have been particularly exciting for the crypto derivatives market, but I'm more excited that the increased activity we're seeing today may be a catalyst for widespread crypto adoption. Rising demand for crypto derivatives from both institutional and retail user bases…
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AMF wanted to avoid any pro-cyclical influence that the considerable uncertainties and decline in the market may have caused and implemented the unprecedented measure of prohibiting net short positions. Since the ban, markets have partly reduced their losses, trading volumes and volatility levels, although still high, have resumed to more normal positions. The French market’s…
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Responsible entities holding an AFS licence are obligated to have the minimum level of net tangible assets of $150,000. Ausfunds failed to maintain this level of financial resources over two consecutive financial reporting periods, despite reminders from its auditor about the financial requirements of its AFS licence. ASIC has the power to suspend or cancel…
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