Australia financial regulator ASIC has issued what amounts to a warning to FX, CFD and Binary Options brokers in the country to clean up their act, in a release entitled ASIC calls on retail OTC derivatives sector to improve practices. ASIC formally stated that it has called on participants in the retail over-the-counter (OTC) derivatives sector…
Read moreLiquid Markets, the UK Forex broker that was forced to halt operations in the aftermath of the events on “Black Thursday”, has just announced the appointment of special administrators from Baker Tilly Restructuring and Recovery LLP. Matthew Haw, Graham Bushby and Matthew Wild will act as Joint Special Administrators of the Forex broker under an order…
Read moreFXCM Inc (NYSE:FXCM) announced today that due to unprecedented volatility in the EUR/CHF pair after the Swiss National Bank announcement Thursday morning, clients experienced significant losses, generating negative equity balances owed to FXCM of approximately $225 million. As a result of these debit balances, the company may be in breach of some regulatory capital requirements. FXCM states…
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