The Bank for International Settlements (BIS) Market Committee has encouraged more participants in the foreign market exchange (FX) market to take up the FX Global Code of Conduct. The code was launched 2017 as a voluntary set of good market practices, today its turnover is more than &6.6 trillion a day. Its scope covers ethics,…
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The Australian Securities and Investment Commission (ASIC) has imposed new conditions on the Australian financial services (AFS) licence of BGC Securities Australia (BGC) to ensure that BGC’s disposition can accommodate compliance with obligations related to fixed income solutions business. The additional conditions instruct the appointment of an independent expert for review and assessment of BGC’s…
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President Trump has faced yet another legal backlash, as Deutsche Bank received an order to disclose his financial records. The decision that took place last week is just the latest one that is going to be decided on by the Supreme Court. Trump had 7 days to appeal the ruling that rejected his bid to…
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The financial company RoboForex has informed the public that it has just received a brand new license from the National Bank of the Republic of Belarus. Its affiliated company was listed in the forex companies registry in accordance with the country’s current and local legislation. Residents of the Republic of Belarus and several other countries…
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Australian regulator ASIC has announced yesterday that it has just suspended the Australian financial services (AFS) license of Sydney-based financial services provider Australasia Wealth Services Management Pty Ltd (AWSM) until 25 June 2019. According to the regulator, the company AWSM had breached its financial reporting and audit obligations and the requirement to obtain membership of…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Purse International. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…
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IBM (NYSE: IBM) and information giant Thomson Reuters (NYSE:TRI) have teamed up to help banks address ever-growing regulatory requirements through the powerful combination of artificial intelligence (AI) and real-time regulatory insights. IBM and Thomson Reuters Regulatory Intelligence will offer financial institutions access to IBM Cloud's RegTech solution. The two companies collaboration will enable risk and…
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European financial regulatory body ESMA has come out with more details on its decision to extend its CFD leverage cap for a second three month period. The new ESMA rules governing leveraged CFD and Forex trading came into effect on August 1, with ESMA announcing at the end of September that it would renew the…
Read moreUK financial regulator Financial Conduct Authority (FCA) has published two consultation papers, setting out its proposals in the event the UK leaves the European Union on March 29, 2019 without an implementation period - i.e., a so-called 'Hard Brexit'. It also set out its approach to the regulation of Credit Ratings Agencies, Trade Repositories and…
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LeapRate Exclusive... The People's Bank of China, effectively China's central banking authority, has posted a notice on its website providing further warnings that it is planning to take measures to shut down what it terms illegal FX brokerage activity targeting China-based Retail FX traders. The notice, which also officially comes from the Ministry of Public Security…
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