This will be a week which many in the FX industry won't soon forget, in part because of what didn't happen. After several months of debate and a few more months of waiting, the FCA decided to delay its implementation of new rules governing the leveraged Forex and CFDs sector until at least early 2018. We…
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UK regulator the Financial Conduct Authority (FCA) has dropped another bombshell. After shocking the Forex and CFD brokerage sectors in December with surprise proposals to rein in leverage and bonus payments to retail clients, the FCA today announced that it will be delaying the finalization of its proposals now that pan-European regulator ESMA announced that…
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Copenhagen based multi asset broker Saxo Bank has announced that its FCA regulated arm, Saxo Capital Markets UK Limited, is pulling out of the UK CFD and FX Association, a margin trading industry group. While not giving a specific reason, LeapRate has learned that Saxo is leaving the association in a dispute with the other members…
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UK financial regulator The FCA issued today its 2017 Mission Statement and Business Plan, plus its Sector Views which highlight the issues and developments the FCA sees in the sectors it regulates. While there seems to be a lot new now at the FCA - including a quietly unveiled new-look website and logo (see at…
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Platforms shut down, offices opened and closed, executive hirings, regulator bans, joint ventures, new licenses, results good and bad... this week's Forex Industry News had it all. And once again, you read about the key stories exclusively or first at LeapRate. With that in mind, we wanted to take this opportunity to thank you, our readers.…
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Given the large response, the FCA will take more time than expected in finalizing the new rules.
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Forex Industry News at LeapRate was clearly dominated this past week by the drama surrounding FXCM Inc (NASDAQ:FXCM) after it and its CEO were banned from the company's home US FX market. More of our coverage from the past week follows below. But there was much more. We reported exclusively on the secret talks being…
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LeapRate Exclusive... LeapRate has learned that a secret, invitation-only meeting was held yesterday in London between the FCA and senior representatives from several of the leading regulated Forex and CFD brokers in the UK. The meeting was meant to help clear the air between the regulator and the brokers regarding the way the FCA 'surprised'…
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LeapRate Exclusive... LeapRate has received a formal statement from multi-asset broker Saxo Bank on the FCA's recently announced rule change to CFD brokerage and trading. The statement is courtesy of Matteo Cassina, CEO of Saxo Capital Markets UK, the FCA regulated arm of the Copenhagen based broker. Mr. Cassina also acts as Global Head of Sales…
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It looks like Fidelity Investments isn't waiting for the big bounceback in shares of UK online brokers, following the $2 billion+ market cap hit taken by publicly traded brokers in the wake of the FCA's recent tightening of rules around CFD brokerage and trading. It was indicated in a recent regulatory filing that the US investment…
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