Regulation

Regulatory Authorities Nearing FX Manipulation Charges, Fines Approaching $41B?

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Following a yearlong investigation by a number of global regulators alleging FX manipulation by many of the world’s leading banks, the potential costs associated with fines are starting to be weighed.
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FX Fixing Scandal Continues its Misery – Rabobank Puts 2 More Traders on Leave

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Two FX traders have been placed on leave at Rabobank, Gary Andrews and Chris Twort have been named in an investigation. Mr Andrews is believed to have left the bank, according to his Linkedin profile.
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Two English Channel Islands Join Forces to Attract Brokers With Dual Gambling/Financial Licence

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The gambling regulator of Alderney and the financial regulator of the neighboring Guernsey will cooperate to establish the islands as a joint Binary Options, CFDs and Spread Betting jurisdiction.
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MFSA Tightens Financial Licensing Rules and Raises Capital Requirement

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Effective October 20th, all new foreign exchange brokers must adhere to a €730,000 initial minimum capital requirement in Malta alongside a range of other conditions designed to toughen financial regulation.
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Two Former Rabobank Employees Charged for Libor Rates Manipulation

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US Department of Justice has charged two former traders at Dutch bank, Rabobank. The two were found guilty of their role in the manipulation of Libor rates, a total of six former workers at the bank have been charged.
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South Korea’s Financial Regulator Intensifies Monitoring of Forex Trading

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In yet another example of the FX market coming under more scrutiny from regulators globally, Forex Magnates reports on South Korea’s plans to make Forex brokers more transparent and traders more accountable.
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Cyprus Regulator Releases Practical Guide to MiFID II for the Financial Trading Industry

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Among the highlighted changes: EU member states may require that third country firms will have to establish a branch in each member state where they operate and risk control requirements for high frequency traders.
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ActTrader Becomes 1st Multi-Asset Trading Platform Certified by Financial Commission

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Leading dispute resolution organization, Financial Commission, reports that it has certified a new trading platform. ActTrader, a trading portal becomes the second platform to gain recognition by the commission.
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AMF Publishes Four-Year FX Study, 89% of Investors Experiencing Losses

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Autorité des marchés financiers (AMF) has issued an announcement warning investors of the potential dangers of trading FX, following a mounting number of complaints from investors.
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FCA Issues Warning Against ‘B2S Forex’ and Encourages Investors to Avoid Unregulated Entities

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The FCA issues a new warning against another start-up FX broker operating without a license. This time, the perpetrator is not camouflaged in the City of London, but rather a leafy village in Leicestershire.
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