Category: Financial Services

eurex
December 21, 2018 BY Valentina Kirilova

Eurex Clearing expands distribution offering to clients of U.S. clearing members

Eurex Clearing starts offering clearing services for swap transactions to clients of futures commission merchants (FCMs) domiciled in the U.S., Deutsche Boerse announced earlier today. CFTC has already given Eurex Clearing authorization to provide clearing services for swaps for U.S. clearing members as well as their customers The U.S. is an important market for us,…

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fca fine
December 21, 2018 BY Valentina Kirilova

Merrill Lynch fined $6m for selling Facebook, General Motors, LinkedIn IPOs to industry insiders

FINRA has informed the public that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. for improperly selling shares in initial public offerings (IPOs) to industry insiders. Merrill Lynch will pay a $5.5 million fine, and disgorge $490,530 it earned as revenue from the sales. IPOs included Facebook, Inc. (NASDAQ:FB), General Motors Co. (NYSE:GM),…

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fca warning clone firm
December 21, 2018 BY Valentina Kirilova

FCA warns against Marcus Korsten clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Marcus Korsten. 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 to…

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fma warning
December 21, 2018 BY Valentina Kirilova

New Zealand FMA warns against ZonggangCaifu

The Financial Markets Authority (FMA) has just issued a public warning against a scam company called ZonggangCaifu. ZonggangCaifu Website: www.zgtra.com ; www.zgangfx.com ; www.zongforex.com Reason for warning: ZonggangCaifu is not registered, licensed, or regulated in New Zealand as claimed on its websites. The financial service provider registration numbers of FSP1782, FSP1762, FSP488226 and FSP536586 displayed…

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moex moscow exchange
December 20, 2018 BY Valentina Kirilova

MOEX launches trading in sunflower seed futures

Moscow Exchange (MOEX) has announced that it has started trading sunflower seeds on its Urozhai trading and clearing platform. MOEX offers deliverable forward contracts with expiry dates ranging from 3 to 180 days, as well as deliverable swap contracts. The exchange also uses the Urozhai platform for grain and sugar trading. Igor Marich, Managing Director of the…

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December 20, 2018 BY Valentina Kirilova

13 unregistered brokers charged for selling Woodbridge securities to retail investors

The Securities and Exchange Commission (SEC) has announced that it has charged 13 individuals and 10 companies for unlawfully selling securities of Woodbridge Group of Companies LLC to retail investors. The SEC has now charged 18 of Woodbridge’s highest-earning unregistered sales agents who sold more than $400 million of its securities to retail investors,” said Eric…

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warning
December 20, 2018 BY Valentina Kirilova

New Zealand FMA warns against Golden Financial Service Limited

The Financial Markets Authority (FMA) has just issued a public warning against a scam company called Golden Financial Service Limited. Golden Financial Service Limited Address: 8 Tango Place, Henderson, Auckland 0610 Website: www.gdfxuk.com ; www.golden-financial.com Phone: +852 6948 8536 Reason for warning: GFS is not licensed to issue derivative products (CFDs) to New Zealand retail…

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CFTC offices
December 20, 2018 BY Valentina Kirilova

Commodity pool operators fined $23m for fraud

The Commodity Futures Trading Commission (CFTC) has just announced that Phaetra Capital GP LLC, Phaetra Capital Management LP, and Argenta Group LLC have been find more than $23 million for defrauding investors. The complete announcement reads as follows: The Commodity Futures Trading Commission (CFTC) announced today that on December 3, a federal court in New York…

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fca warning
December 20, 2018 BY Valentina Kirilova

FCA warns against Maplewalk trading as Prime Crypto

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Maplewalk t/a Prime Crypto. Maplewalk t/a Prime Crypto is not authorised by the FCA but has been targeting people in the UK and is also carrying…

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ESMA - Did they go too far?
December 20, 2018 BY Valentina Kirilova

ESMA renews restriction on CFDs for a further three months

Pan European regulator ESMA has decided to extend its CFD and Forex leverage cap (and related rules) for a further three months. The three month trial has already ended on November 1. The effects of ESMA’s rules have already begun to be felt by the online brokerage industry, with reduced Revenues reported by the likes of IG Group and CMC Markets.…

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