The UK Financial Conduct Authority (FCA) has put out details of two clone firms today. The names of the clone companies are ICAP Investment and Cabinet Klienmann Sarl. 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…
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Fintech company Integral just released its volumes report for the month of August 2019. Average daily volumes (ADV) across Integral platforms totaled $34.5 billion last month - an increase of 1.2% compared to July 2019 and 3.0% YoY. LeapRate reminds that in 2018 Integral invested in Mint Exchange, a cryptocurrency clearinghouse designed for institutions. Mint Exchange…
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Australian regulator announced earlier this week that it has suspended the Australian financial services (AFS) licence of Queensland-based financial services provider Financial Options Pty Ltd. The licence is suspended until 26 February 2020. According to the regulator, Financial Options was not meeting its obligations as an AFS licensee. The company has failed to have a dispute…
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We are into the ninth month of the year, and we are still waiting patiently for the SEC to approve a Bitcoin Exchange-Traded Fund (ETF). Yes, the VanEck consortium decided to forego the retail market for now and launch a Bitcoin Trust for institutional investors only, but the SEC is still pondering what to do…
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Online FX and CFD broker ATFX has today announced the launch of its new institutional desk offering ATFX Connect. The latest offering is specifically aimed at professional clients and is part of AT Global Markets (UK) Ltd, which is an established broker based in the City of London. The company recently created an additional layer in…
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Australian regulator ASIC informed earlier today that following an investigation, the Former director of Hudson Resources Limited and Raffles Capital Limited, Benjamin Amzalak, has pleaded guilty to an offence of market manipulation. Amzalak, of Bondi, NSW, has been sentenced to 2 years of imprisonment. He took part in transactions that had the effect of creating…
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While the UK FSA has had some ideas about how to approach the ever growing cryptocurrency, blockchain and overall the entire fintech industry, another financial regulatory body is taking serious steps to do the same thing. The Indonesian FSA, also known as OJK, has created an online registration platform so as to more efficiently oversee…
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Financial news media channels were abuzz a few days back when VanEck Securities and SolidX Management surprised the world by announcing the immediate offering of a “Bitcoin-like ETF”, but only available to institutional investors that qualified as being “Sophisticated” and “Accredited” under SEC guidelines. It seems that Rule 144A of the 1933 Securities Act provided…
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The Financial Markets Authority (FMA) has recently added another name to its list of unregulated firms. The latest addition is the company Coinbrokerz. According to the regulator, Coinbrokerz has the hallmarks of a scam, including withholding clients' funds, requesting clients to transfer additional funds before being able to withdraw investments and bank accounts that do…
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Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech firm and part of the S&P 500® Index, announced yesterday that it has completed the acquisition of Financial Database Services. Financial Database Services provides compensation management, compliance and advisor onboarding solutions for the wealth management industry. The acquisition of Financial Database Services is the latest example of…
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