The U.S. Commodity Futures Trading Commission (CFTC) today announced an award of more than $10 million to a whistleblower who provided key original information that led to a successful CFTC enforcement action. The award is the largest made by the CFTC’s Whistleblower Program to date and the third award to a whistleblower who provided valuable…
Read moreAustralian financial services regulator ASIC is continuing its direction of clamping down on the activities of retail FX firms in its jurisdiction, this time revoking FX and CFD brokerage Rainbow Legend's AFS license for making false and misleading statements
Read morePhillip Boakes, who defrauded investors of more than £3.5 million, was today sentenced at Southwark Crown Court to 10 years in jail. Boakes, who ran CurrencyTrader Ltd, a company engaged in Forex spread betting, lured investments using false instruments and taking deposits without having the proper authorization. In running a typical Ponzi scheme, Boakes funded…
Read moreThe application of market surveillance systems in ASIC's method of financial regulation has enabled its regulatory enforcement team to effectively bring wrongdoers to book, and to work with firms in order to refine compliance procedures
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