Australia financial regulator ASIC has issued what amounts to a warning to FX, CFD and Binary Options brokers in the country to clean up their act, in a release entitled ASIC calls on retail OTC derivatives sector to improve practices. ASIC formally stated that it has called on participants in the retail over-the-counter (OTC) derivatives sector…
Read moreAustralia financial regulator ASIC has announced that it has accepted a court enforceable undertaking from Vantage Global Prime, to address systems and controls inadequacies within its CFD business. Vantage is an Australian Financial Services licensee that is authorised to deal in financial products including CFDs to retail and wholesale clients. CFDs are derivative financial products…
Read moreCyprus financial regulator CySEC issued a statement on its supervisory priorities and activities for the second half of 2018, led by overseeing the adoption of MiFID II requirements. CySEC stated that its mission is to exercise effective supervision of Cyprus Investment Firms (‘CIFs’) to ensure maximum investor protection and the healthy development of the securities…
Read moreThe Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de résolution (ACPR) have published a list of new websites and entities offering investments on the unregulated foreign exchange (Forex) market in France, without authorisation to do so. Here are the new websites recently identified: www.binarycent.com / Cent Projects Ltd / Finance…
Read moreContinuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian regulator OSC has issued a warning against an entity called Bristol Consulting FX. Bristol Consulting FX , also doing business as www.bristolconsultingfx.com is not registered in Ontario to engage in the business of trading in securities. The company…
Read morePan-European financial regulator European Securities and Markets Authority (ESMA) has issued today the latest iteration of its Risk Dashboard, covering risks in the EU’s securities markets for Q1-2018. Overall, ESMA stated that its overall risk assessment remains unchanged from Q4-2017, at high levels. ESMA said that it remains concerned about risks posed to investors, which have…
Read moreCyprus financial regulator CySEC has issued a clarification circular (see full text below) following numerous inquiries it received in the wake of ESMA's plans to move forward with new, restrictive rules governing online brokers. ESMA's new rules - finalized in late March and set (just as of last week) to come into effect in two…
Read moreIt looks like CySEC is looking for help. The Cypriot financial regulator has issued today a tender for the purchase of services from outside parties, for the examination of CIF license applications, as well as other licenses and designations issued by CySEC including CIPs, UCITS, AIFs, UCITS, AIFM, and OEEPAP. CySEC is also planning to…
Read moreCyprus financial regulator CySEC has issued a new circular, warning CIF licensed entities in the country (mainly Retail FX and CFD brokers) that they should not be taking clients from Russia, unless properly licensed in that country. The Bank of Russia introduced licensing for Retail FX brokers in 2016, and has handed out just a…
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Pan European financial regulator ESMA has announced the dates from which it will enforce new rules governing online trading and brokerage. We would note, however, that the new rules - banning Binary Options in the EU and restricting leverage on CFDs as outlined in more detail below - are temporary and will only be in…
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