Mintco Precious Metals Traders Fined and Banned by CFTC Court Order Federal Court sides with CFTC Enforcement Actions filed on September 2015 against Florida-based Mintco LLC and their owners Stuart Rubin and Richard Q. Zimmerman. Consent Orders by Federal Judge Beth F. Bloom fines Mintco $250,000 and Zimmerman $45,000, as well as a 3-year trading […]
This month the National Futures Association announced to its members additional reporting requirements for Bitcoin or cryptocurrency soliciting, orders, trading, and offering such products. The notice to members was address to Introducing Brokers (IBs), Commodity Pool Operators (CPOs), Commodity Trading Advisors (CTA), and Futures Commission Merchant (FCMs) for which the NFA is the DSRO. Any of these […]
The CFTC defines its authority over retail commodity transactions involving virtual currency and Bitcoin after it brought enforcement actions against Bitfinex for not meeting “actual delivery” exemption. On Friday 15th 2017 the CFTC released a Proposed Interpretation of its view of the term “actual delivery” exception that may apply to virtual currency transactions under the Commodity […]
RED List Identifies Entities Operating Illegally for Binary Options and Forex Washington, DC — As part of the Commodity Futures Trading Commission’s (CFTC) ongoing efforts to help protect Americans from fraud, today the CFTC added 21 new names to the Registration Deficient List (RED List). These 21 new additions bring the total number of foreign entities […]
Washington Federal Bank for Savings, Chicago, Illinois, was closed today by the Office of the Comptroller of the Currency, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Royal Savings Bank, Chicago, Illinois, to assume the insured deposits of […]
Understand the Risks of Virtual Currency Trading The U.S. Commodity Futures Trading Commission (CFTC) is issuing this customer advisory to inform the public of possible risks associated with investing or speculating in virtual currencies or recently launched Bitcoin futures and options. Virtual currency is a digital representation of value that functions as a medium of […]
Today the CFTC made an announcement of its brand new Virtual Currency Resource Webpage. It focuses primarily on Bitcoin, as denoted by the webpage address, cftc.gov/bitcoin, but it serves as an annex of all cryptocurrency activity by the Commission. After an introductory paragraph on Bitcoin and cryptocurrency, the page has links to CFTC documents such as LabCFTC’s […]
Securities and Exchange Commission (SEC) Chairman Jay Clayton released a public announcement regarding Initial Coin Offerings ( ICO ) which gave advise to investors looking into ICOs on Monday, December 11, 2017. CFTC’s own Chairman, J. Christopher Giancarlo, commended Chairman Clayton’s statement: Washington, DC — Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo issued the following […]
The CFTC’s Division of Swap Dealer and Intermediary Oversight responded to a letter from the Futures Industry Association (FIA) requesting guidance for Commodity Trading Advisor (CTAs) registration requirements. The Division stated in a staff letter that commodity trading advice conducted “solely incidental” to a profession, or “solely in connection with” business is not subject to […]
Last week the European Commission (EC) and the CFTC announced mutual recognition of each other’s derivatives trading venues, fulfilling the Common Approach announced this October the 13th, 2017 by the two regulatory agencies. On Tuesday, December 5, 2017 the EC announced it adopted an equivalence decision to recognize certain trading venues authorized by the CFTC […]
The bank is co-operating with Teradata to build a new AI-based marketing engine.
The post New AI solution aims to help Resona Bank enhance customer-facing services appeared first on FinanceFeeds. […]
Simon Bird, who was COO at City Index for over five years and has a long interbank career at Bear Stearns behind him, has joined the board at British spread betting and CFD company ETX Capital alongside his non-executive chairmanship at Ikon Finance.
The post Former City Index COO and long term FX expert Simon Bird joins ETX Capital as non-executive director appeared first on FinanceFeeds. […]
The parties in the case disagree on whether foreign currency retail transactions should mean transactions involving foreign currency physically received at banks' branches within the United States for U.S. Dollars.
The post Parties in FX benchmark rate fixing case clash over “foreign currency retail transaction” meaning appeared first on FinanceFeeds. […]
Yes, a trade size of $400 million was executed by an interbank FX trader using a mobile app. Yes, $100 million notional value is not uncommon. Is mobile technology ever going to be prominent in the professional trading and interbank sector? No.
The post JPMorgan’s $100 million FX trades on mobile apps: Institutional world still a world away from mobile first appeared first on FinanceFeeds. […]
Trading on platforms including FXNeo and Click365 was disrupted for about 3 hours today.
The post GMO Click reports of issues affecting FX, options trading appeared first on FinanceFeeds. […]
Although the regulator remains cautious about Bitcoin and its likes, it considers blockchain a promising technology.
The post Dutch regulator says national ban on cryptocurrencies would be difficult to enforce appeared first on FinanceFeeds. […]
The City of London and many interbank FX leaders are busily engaged in diplomacy with Europe. Why? We look at why London will hold its own as an independent force that will be even more of a pinnacle and focal point post-Brexit than it already is for our industry
The post Who really cares about post-Brexit EU business? The FX industry should not. Op Ed appeared first on FinanceFeeds. […]
The new tool provides trading history and professional grade metrics to help visualize, track and manage one's trading habits.
The post OANDA fxTrade mobile app for Android devices adds new Trading Performance tool appeared first on FinanceFeeds. […]
“The business is developing new products and services, and is establishing operations in new geographies, in order to broaden its client base, extend its competitive advantage, and to allow it to continue to market OTC leveraged derivatives to potential new clients for whom it is appropriate”, says IG's CEO Peter Hetherington.
The post IG expects to launch US subsidiary in mid-2018, marks progress on MTF for European market appeared first on FinanceFeeds. […]
The Australian securities regulator has agreed that the AGM is adjourned until the earlier of May 30, 2018, or two months after the company exits administration.
The post ASIC adjourns AGM of Bitcoin ATM aspirer Stargroup, as Receivers need time to complete sale process appeared first on FinanceFeeds. […]
In January 2018, FIA launched three new Brexit Working Groups via which FIA members can provide their direct input into FIA’s Brexit work. FIA aims to hold the first working group call for each...On Jan. 16, FIA submitted a letter to the Commodity Futures Trading Commission commenting on an application submitted by Intercontinental Exchange seeking permission for its clearinghouses in the...On Jan. 16, FIA submitted a letter to the Securities and Exchange Commission commenting on a proposal by the Options Clearing Corporation to amend certain provisions of its default management...The UK’s Financial Conduct Authority, Bank of England and Gemany's BaFIN have issued statements providing transitional periods for ICE Futures Europe, London Metal Exchange, LME Clear and Eurex... London — Today, FIA published a white paper entitled 'The Impact of a No-Deal Brexit on the Cleared Derivatives Industry'. The purpose of the white paper is to promote a better...FIA has published an implementation summary to help futures brokers and other market participants outside the European Union comply with the direct electronic access requirements under MiFID II... Washington, D.C. and London —FIA and SIFMA today released a white paper setting out recommendations for improving U.S. access to international swap markets. Currently, U.S. firms have not...
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In today’s “hot” cryptocurrency environment, it’s easy for companies or their promoters to make glorified claims about new products, services and other cryptocurrency-related connections. And, even when legitimate companies flock to a hot, new sector, fraudsters almost always follow suit, exploiting the news to launch their latest frauds du jour. Follow these tips to avoid costly mistakes. […]
Drawing on the findings of the FINRA Investor Education Foundation's National Financial Capability Study of more than 25,000 American adults, the FINRA Foundation has developed five tips to help consumers both manage their day-to-day financial challenges and build a brighter financial future. […]
FINRA has issued a new alert to inform investors about the potential risks of participating in Initial Coin Offerings, or ICOs. Investors should be aware that ICOs differ significantly from initial public offerings (IPOs). Unlike stocks, ICOs typically confer no ownership rights in the company; and unlike bonds, ICOs do not involve investors lending money to the issuer. Instead, ICOs involve new technologies and products that are highly technical and complex, and investors can lose some or all of the money they invest in an ICO. […]
Financial fraud routinely follows on the heels of disaster. Hurricane Harvey and the historic flooding it left it its wake is no exception. We are issuing this Alert to warn investors that investment scams may come your way touting stocks and other investments with the promise of huge gains in the wake of Harvey. This Investor Alert explains how to spot and protect yourself from potential investment scams. […]
Some companies and recruiters use online video call technologies such as Skype as a convenient and cost-effective way to interview job applicants. Unfortunately, fraudsters are using them too, and they aren't looking to offer you a job. FINRA is issuing this Alert to warn the public that individuals claiming to be involved in the hiring process for legitimate organizations have turned to online video call platforms as a way to phish for your personal information and money. […]
"Crowdfunding" generally refers to the use of the Internet by small businesses to raise capital through limited investments from a large number of investors. Under SEC rules, the general public can invest in capital raising by start-up companies. This advisory is designed to help the public understand the crowdfunding rules and processes so they can make informed decisions about the risks and rewards of investing in these early-stage businesses. […]
FINRA is issuing this alert to warn anyone involved in binary options trading—specifically through unregistered non-U.S. companies offering binary options trading platforms or services—to be on guard for potential follow-up frauds. […]
If you own bonds or have money in a bond fund, there is a number you should know. It is called duration. Although stated in years, duration is not simply a measure of time. Instead, duration signals how much the price of your bond investment is likely to fluctuate when there is an up or down movement in interest rates. The higher the duration number, the more sensitive your bond investment will be to changes in interest rates. […]
This Investor Alert focuses on a type of call center called a customer advisory center. It is a center that is staffed by securities professionals who may provide financial planning services, sell securities products, and receive commissions or other financial incentives for doing so. These centers have become common and, in some instances, can be sales-orientated. […]