LCG trading floor
March 05, 2018 BY LeapRate Staff

Exclusive: LCG goes private in £5 million Loan Notes deal, to Charles-Henri Sabet

LeapRate Exclusive... LeapRate has learned that FCA regulated Retail FX, CFDs and spreadbetting broker London Capital Group is going to be taken private by CEO Charles-Henri Sabet. Mr. Sabet and his investor group GLIO Holdings already control the publicly traded parent company London Capital Group Holdings PLC (which we'll call 'Holdings'), with a 78.1% holding. However…

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exness fx volumes
March 05, 2018 BY LeapRate Staff

Exness February FX trading volumes $290.5 billion, down 13% MoM

After reporting record trading volumes of $334 billion to open 2018 in January, FCA and CySEC licensed Retail FX broker Exness saw something of a slowdown during February, with volumes retreating by 13% in February to $290.5 billion. We would note, however, that there were two less trading days in 28-day February than January (20 trading…

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ICO fraud
March 05, 2018 BY LeapRate Staff

$50 million securities fraud charges lead to insolvency for UK broker Beaufort Securities

UK FCA financial regulator the FCA has announced that following an urgent application by it, the High Court has appointed Russell Downs, Douglas Nigel Rackham and Dan Yoram Schwarzmann of PricewaterhouseCoopers (PwC) as joint administrators of Beaufort Securities Limited, and joint special administrators of Beaufort Asset Clearing Services Limited. The FCA took this action following an assessment…

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forex customer complaint
March 05, 2018 BY LeapRate Staff

ASIC consulting on creation of new Australian Financial Complaints Authority (AFCA)

After the bill to create a new Complaints authority passed Australia's parliament on February 14 - mandating that the new authority to be named Australian Financial Complaints Authority (AFCA) be in action by November 2018 - Australia's financial regulator ASIC today released a draft updated Regulatory Guide 139, Oversight of AFCA for public consultation. The Bill to establish…

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nfa office
March 05, 2018 BY LeapRate Staff

Introducing broker Fortune Trading Group and owner Jonathan Schuler banned for pumping commissions

National Futures Association (NFA), the self-regulatory organization for the U.S. derivatives industry, has announced that it has permanently barred Chicago, Illinois guaranteed introducing broker (GIB) Fortune Trading Group, Inc. (FTG) from membership and from acting as a principal of an NFA Member. The NFA also barred FTG's sole principal and an associated person Jonathan Schuler from membership and from…

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bitcoinbank warning
March 04, 2018 BY LeapRate Staff

Crypto bank BitcoinBank gets warning from Canadian regulator BCSC

Canadian financial regulator British Columbia Securities Commission (BCSC) has issued a warning regarding BitcoinBank (BTCB), operating from website bitcoin-bank.io. BitcoinBank was added to the BCSC's Investor Caution List. The BCSC stated that BitcoinBank claims to be a “cryptobank” which provides financial and investment services. The BCSC recently became aware of BitcoinBank, and found its advertisement targeting Canadian residents…

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Totalizator Sportowy poalnd lottery
March 02, 2018 BY LeapRate Staff

Playtech lands online casino contract with Polish national lottery provider Totalizator Sportowy

Online gaming and financial trading systems giant Playtech PLC (LON:PTEC) has announced that it has been selected by Totalizator Sportowy, the Polish national lottery provider, to supply its industry-leading online casino platform, games portfolio and services. Playtech was awarded the exclusive contract with the 60-year-old state owned operator following a successful public tender process. Totalizator Sportowy’s…

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