Regulation

Exclusive: Myfxbook Becomes Regulated Platform with new CySEC License

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Copy trading provider Myfxbook obtained a license from the Cyprus Securities and Exchange Commission financial regulator, underpinning its stance as one of the leading social trading networks for forex traders.
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US Court Settles with Bankrupt Broker MF Global for Palladium and Platinum Price Discrepancy

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One of the largest financial derivatives trading firms, MF Global, has settled with US courts on matters relating to the price manipulation of certain precious metals contracts. Complainants to receive $21.1 million.
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FINRA & SEC Issue Investor Warning on Penny Stock Fraudsters

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The Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission’s (SEC) Office of Investor Education and Advocacy has released a warning to investors over volatile penny stocks.
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They Just Keep Coming! British Financial Watchdog Warns of Three More Forex Clone Scams

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Like with many clones before, the sites seem to primarily target Chinese speakers. Today’s batch are of higher quality as far as graphics are concerned showing an improvement in the skills fraudsters imploy.
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Exclusive: Poland Financial Regulator’s Forex Profitability Survey Results Unmasked

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Forex Magnates reporters reached out to a player in the local market to delve deeper into the reasons for the high client loss ratio with 81% of local traders have experienced losses on their trading accounts.
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Arthur Levitt Is Advising BitPay and Vaurum as Bitcoin Smart Contracts and Crypto Equities Emerge

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The Former SEC Chairman will help the two companies to adapt their services into regulatory and financial standards. “Bitcoin related property is in the future of blockchain technology,” says Bitpay’s Tony Gallippi.
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Cyprus and Mauritius Watchdogs Spell Out ill-Devised Broker Scam

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The CySEC and FSC Mauritius has informed the public that LiveFX Trader is not and has not at any time been licensed by neither regulator, citing ill-devised fraudulent documentation with some basic errors.
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NFA Bars Bullion Trading Advisor Years after He Stopped Operations and Left the US

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The association said that it started its investigation of Success Bullion in 2014 but the firm did not operate for at least two years before. The owner migrated back to Taiwan in June 2011 and shut down the company.
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FXCM to Pay $180,000 Penalty for Unregistered Trades to Canadian Provincial Regulators

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The NYSE listed brokerage has agreed to pay a penalty of $180,000, of which $22,000 will be paid to the New Brunswick’s Financial and Consumer Services Commission – recently established by the provincial government.
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Financial Robotics Ordered by CFTC to Pay $3 Mln for ‘Risk Free’ Forex Fraud

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Mark E. Rice and his company Financial Robotics get another fine, however chances are slim that these hefty fines will be ever paid back since Mr Rice has already to pay $1.5 million from a January 2014 order.
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