Regulation
On December 1st, Korea Financial Services Commission (FSC) and Financial Supervisory Service (FSS) announced drastic measures on the FX margin product for the purpose of leading a sound investment environment in the retail sector. The main point is to discourage individual trading …
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A US federal court has found Robert Watson a Texas based FX fund manager guilty of soliciting investors who were given false information about investment assets and performance. The U.S. Commodity Futures Trading Commission said a federal court ordered a …
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Online Forex trading has gained momentum amongst Malaysian retail investors as traders saw strong potential gains during the last 5 years, however the central bank has been creating a fuss and today announced major turnaround for traders and brokers in …
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On 28th of September last year, in the annual State of the Union address, José Manuel Barroso, President of the European Commission, announced the proposal for a European financial transaction tax. The concept of this tax is supported by France …
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Apparently CFTC is not as homogeneous as one might think. Two of its Commissioners, Commissioner Jill E. Sommers and Commissioner Scott D. O’Malia, are publishing a dissent from CFTC’s 2011 annual performance report saying that it focused on Dodd-Frank much more than it should …
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Similar to FXOpen which settled similar case in January 2012 and unlike InstaTrade and ZTrade who didn’t settle but were penalized, InterForex settled the case with CFTC for accepting US forex traders. InterForex through its lawyer Felix Shipkevich entered into …
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The Indian rupee fell victim to inflation and economic concerns, and there was serious worry for the BRIC economy facing major financial crisis, the rupee slumped to record a low of 54.29 against the dollar (Dec 2011). Thus the central bank …
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One World Capital was apparently a forex ponzi – owners John Walsh and Charles Martin get 12-17 years in prison
3
2012
This one was pretty much below the radar although One World Capital was probably the biggest US forex brokerage that turned out to be a scam. NFA’s capital requirements which gradually rose from almost nothing to $20+ million since 2008 …
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CFTC – MF Global’s collapse didn’t happen because of a lack of regulation, NFA ponders segregation rules
31
2012
In an interesting speech given by Commissioner Scott D. O’Malia at the Center on Financial Services Law, of New York Law School quite a few interesting things were said and although O’Malia didn’t think the CFTC is to blame for MF Global’s …
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