Forex Industry News this week once again included a number of exclusive posts seen only at LeapRate on regulator actions (a coming deposit bonus ban by CySEC), and key changes at leading FCA regulated brokers – auditor resignation at ADS Securities, LCG repricing management shares and options…
Our most popular guest post this week was on the very hot topic of sports sponsorships in the Forex sector – The Brand Ambassador.
Some of our most popular, shared and commented-on posts this week at LeapRate included:
CySEC close to issuing ban on deposit bonuses. LeapRate Exclusive… LeapRate has learned from people close to the situation that Cyprus financial regulator CySEC is getting set to issue directives which would ban entirely the issuing of bonuses to retail traders. CySEC may, at the same time, announce a cut in maximum leverage which can be offered to retail traders by CIF licensed brokers. What has led to CySEC’s decision? Get all the details, now at LeapRate.
ADS Securities UK sees Ernst & Young resign as auditor. LeapRate Exclusive… LeapRate has learned via regulatory filings that FCA regulated broker ADS Securities London Limited, the UK arm of Abu Dhabi based broker ADS Securities LLC, has had its auditor Ernst & Young resign. No word has been received about a replacement for Ernst & Young at ADS. More details, including the full text of E&Y’s resignation letter, now at LeapRate.
LCG reprices employee incentive shares and warrants reflecting lower share price. LeapRate Exclusive… FCA regulated online brokerage firm London Capital Group Holdings plc (LON:LCG) has announced changes it is making to its management and employee compensation programs. The repricing still requires a significant increase in LCG’s share price in order for management and employees to benefit, thereby aligning their interests with those of LCG shareholders, who also would like to see a move up in the stock price. Get all the details, now at LeapRate.
CMC Markets sees Revenues down 17% and Profits off 30% in slow First Half 2017. London-based online trading firm CMC Markets Plc (LON:CMCX) has reported its results for the first six months of fiscal 2017 (CMC Markets has a March 31 year end, so the first half covers April 1 through September 30, 2016). And, they showed a significant slowdown in business, despite including the very active trading period around June’s Brexit vote.
FCA online broker market gets more crowded as XM.com starts UK operations. The FCA regulated Retail Forex brokerage market is getting increasingly crowded, with the latest entrant being XM.com. XM.com, which has been operating as a CySEC regulated company out of Limassol, Cyprus, announced the opening of a London office under a new license granted to the company’s new UK subsidiary Trading Point of Financial Instruments UK Limited. So who will be running XM.com UK?