Quarterly filings for the end of Q3-2018 from investment company Jefferies Financial Group Inc (NYSE:JEF) – formerly known as Leucadia – indicate that the outstanding amount owed to Jefferies by Retail FX broker FXCM Group as at September 30, 2018 stood basically unchanged from at the end of Q2, at $70.6 million. Which, basically means that during…
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Quarterly filings from investment company Jefferies Financial Group Inc (NYSE:JEF) - formerly known as Leucadia - indicate that the outstanding amount owed to Jefferies by Retail FX broker FXCM Group as at June 30 stood basically unchanged from at the end of Q1, at $70.4 million. Which, basically means that during Q2 FXCM made $3.5 million…
Read moreInvestment company Leucadia National Corp (NYSE:LUK) - which is in the process of rebranding itself to Jefferies Financial Group - has issued its 10Q quarterly report for Q1-2018, providing an update among other things on its outstanding loan to Retail FX broker FXCM Group. In the big picture, Leucadia reported that to date (as of March…
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Some interesting disclosures in the just-filed annual report "10-K" form from investment company Leucadia National Corp (NYSE:LUK) have shed some more light on Leucadia's loan to Retail FX broker FXCM. Leucadia made a $300 million emergency rescue loan to FXCM in January 2015, after FXCM took heavy losses in the hundreds of millions of dollars from…
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Leucadia National Corp. (NYSE:LUK) released its fourth quarter and full year 2017 results yesterday, along with management's annual Letter to Shareholders, which gave more insight into how different parts of the business and certain investments have fared. One of the more interesting disclosures of the Letter was news that the company was already well "in…
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Investment firm Leucadia National Corp (NYSE:LUK) has issued its Q1 results report, which included some interesting updates on its $300 million loan to retail forex broker FXCM. Leucadia lent the money to FXCM back in January 2015, enabling FXCM to overcome a $276 million loss it took in the form of unrecoverable negative client balances following…
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Retail Forex broker FXCM Inc (NASDAQ:FXCM) has released details of its 2017 executive compensation plan, and it seems that it is placing a large premium on repaying in full its loan from Leucadia National Corp (NYSE:LUK). On November 7, FXCM's Board of Directors approved the company’s 2017 Incentive Bonus Plan for Founder-Directors and Specified Executive Officers for the…
Read moreRetail forex broker FXCM Inc (NYSE:FXCM) and investment company Leucadia National Corp (NYSE:LUK) have announced a renegotiation of their loan and 'letter' agreements, which will see Leucadia take a direct 49.9% interest in FXCM's operating companies. FXCM will retain the other 50.1%. The other major changes to the original deal (which was renegotiated once already, to…
Read moreAs we said they would, retail forex broker FXCM Inc (NYSE:FXCM) has issued a formal statement in reply to yesterday's news that the CFTC was now charging FXCM with undercapitalization related to the 2015 Swiss Franc spike - more than a year and a half after the event, and after the issue had been rectified. And, as…
Read moreIn a very bizarre filing, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action today against the Forex Capital Markets LLC unit of Retail Forex broker FXCM Inc (NYSE:FXCM), charging FXCM with undercapitalization, failure to timely report its undercapitalization violation, and guaranteeing against customer losses. What's bizarre about the CFTC filing? The filing…
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