• Cypriot regulator reaches €300,000 settlement with Banc de Binary

    A settlement has been reached with the Banc De Binary Ltd for possible violations of The Investment Services and Activities and Regulated Markets Law of 2007. More specifically, the settlement reached relates to the assessment of the Company’s compliance, at the time it was authorised, with its CIF authorisation, compliance with the conditions under which...

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  • Federal Court Orders Defendant to Pay More Than $2.9 Million for a Social Media-Based Forex Fraud Scheme

    The Commodity Futures Trading Commission (CFTC) has announced that the U.S. District Court for the Southern District of Texas entered judgment against defendant Kelvin Ramirez of Houston, Texas in a CFTC enforcement action that found that he had fraudulently solicited and misappropriated funds from clients in a forex trading scheme. The Court’s order requires Ramirez...

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  • ESMA warns CFDs providers on application of product intervention measures

    The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has published a statement addressed to providers marketing, distributing or selling contracts for difference (CFDs) to retail clients. The statement is in response to various practices and situations observed in the market, which raise concerns of non-compliance with the legal requirements applicable when...

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  • BaFin maintains prohibition of binary options for retail clients in Germany

    The marketing, distribution, and sale of binary options to retail clients will remain prohibited in Germany. This is set out in a general administrative act issued by BaFin in response to the expiry of the product intervention measure imposed by the European Securities and Markets Authority (ESMA). In particular, BaFin sees risks and thus considerable investor...

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  • Ireland to ban binary options and restrict CFD trades permanently

    The Central Bank has announced that it will ban the sale of binary options to retail investors and restrict the sale of contracts for difference (CFDs) to retail investors. This will be the first time that the Central Bank uses its product intervention powers introduced in 2018, which allow it to prohibit or restrict the...

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  • MultiBank Group Acquires AETOS China

    MultiBank Group, a leading online trading brokerage, has announced its acquisition of AETOS Capital Group Pty Ltd which is based in mainland China operations. The purchase is to include the transfer of AETOS’s tens of thousands of traders to trade with the MultiBank Group brand. Previous AETOS traders will trade under a new division of...

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  • FCA confirms recognition of the FX Global and UK Money Markets Codes

    The Financial Conduct Authority (FCA) has confirmed that it is recognising the following voluntary market codes of best practice under its codes recognition scheme. FX Global Code – maintained and updated by the Global Foreign Exchange Committee, this Code sets global principles of good practice standards in the foreign exchange (FX) market, promoting the integrity...

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  • Sheffield United has signed a major sponsorship deal with USG

    Sheffield United unveiled the largest-ever commercial transaction in the club’s history.  The Australian headquartered global multi-asset broker, USG, has agreed on a three-year term Premier League principal partnership with the Blades to become front of shirt and sleeve sponsor. It is a significant financial boost recognizing United’s place at the highest level of the English game...

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  • CONSOB adopts prohibition of Binary Options and Contracts for Difference

    Consob introduced in Italy on a permanent basis – pursuant to Article 42 of the EU Regulation on financial instruments markets (MiFIR) and of art. 7-bis of the Consolidated Law on Finance – intervention measures to protect retail investors similar to those already adopted by the ESMA, the European Authority for Financial Instruments and Markets,...

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  • FCA on Delivering financial services digitally in its perimeter report

    The FCA (Financial Conduct Authority) recently published its first annual Perimeter Report, in which it comments on the limits of its responsibilities towards the UK citizens. The perimeter is basically the legal boundary determining what the FCA regulates (and therefore also what it does not regulate). In the report, the FCA says it might push...

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