Independent financial industry research consultancy Autonomous Research points to potentially astronomical fines leveled at banks for FX rate rigging
Read moreNew retail FX brokerage FxGrow establishes in Cyprus, taking A-book liquidity from CFH Clearing.
Read moreProminent industry figure Ian Hannam's appeal was overturned by the Upper Tribunal, resulting in a £450,000 fine.
Read moreDeutsche Bank sets aside funds for legal provision and payment of potential fines in FX rate manipulation case, indicating potential conclusion
Read moreCySec applies €14,000 fine to DFG Capital, further highlighting the difference between its punitive measures and those of other jurisdictions
Read moreDo regulators have to also pay fines themselves for making administrative errors? In a fairly quick and somewhat bizarre about-face to the story we broke earlier today (that CySEC and UFX Markets had "compromised on" an €100,000 fine for UFX Markets' regulated parent company Reliantco, for undisclosed actions), CySEC has now issued a new letter recalling…
Read moreAlthough the fine remains shrouded in mystery as to what UFX was actually charged with doing. Cyprus' financial regulator CySEC disclosed today it had fined UFX Markets (or more specifically, its regulated parent holding company Reliantco Investments Ltd) the sum of €100,000, The fine followed a CySEC investigation "for reasonable suspicion of committing possible violations" of Cyprus'…
Read morePlus500 failed to provide accurate transaction reports to the FSA. CFD broker Plus500 was fined £205,128 for failing to provide accurate and timely transaction reports to the FSA in respect of all the reportable transactions they carried out, in the 2010-11 time period. The fine was actually reduced by 30%, from nearly £300,000, as Plus500…
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