FNG Exclusive… The defections at UAE retail FX broker ADSS continue. FNG has learned that longtime Abu Dhabi based ADSS executive Tarek Nabil has left the company, and joined Capex.com as COO of its UAE operation, Key Way Markets Ltd. Tarek Nabil had been with ADSS for 11 years, in a variety of senior sales…
Read More “Exclusive: ADSS exec Tarek Nabil moves to Capex.com as UAE COO” »
FNG Exclusive… It looks like big things are planned at Trading 212. FNG has learned via regulatory filings that FCA regulated online brokerage firm Trading 212 UK Limited has raised an additional £13.75 million (USD $19 million) of capital from its controlling shareholders Borislav Nedialkov and Ivan Ashminov. The latest capital raise, made at the…
Read More “Exclusive: Trading 212 shareholders pump in another £13.75 million of capital” »
New online multi-asset trading brokerage brand Axiance has announced its partnership with Javier Sanz’s Elena Nova yacht in the 39th edition of the prestigious Copa del Rey de Vela regatta at the Real Club Nautic in Palma de Mallorca. As a brand that sees the environment and sustainability as strategic priorities, Axiance said it believes…
Read More “New FX/CFDs brand Axiance sponsors Copa del Rey de Vela yacht” »
New Zealand financial regulator The Financial Markets Authority (FMA) has issued a warning regarding a forex trading information website called WTI Limited. The FMA said that it is concerned that WTI Limited, which operates the website www.wti-hk.com, may be operating a scam. The regulator added that it understands that WTI Limited is using details on…
Read More “New Zealand’s FMA warns of WTI Limited as possible scam” »
John DeMarr, a promoter of Start Options and B2G, pleaded guilty on Friday in the Eastern District of New York for his participation in a coordinated cryptocurrency and securities fraud scheme through purported digital currency platforms and foreign-based financial accounts. As part of his guilty plea, DeMarr admitted that he conspired with others to defraud…
Read More “Promoter of Start Options, B2G pleads guilty to securities fraud” »
The United States Securities and Exchange Commission (SEC) has announced that two registered broker-dealers, Herbert J. Sims and Co., Inc. (“HJ Sims”) and Integral Financial, LLC (“Integral”), and Integral’s President, Weiming “Frank” Ho, agreed to settle charges in connection with the fraudulent sale of certain highly-complex and high-risk variable interest rate structured products (VRSPs) to…
Read More “SEC charges Integral Financial with fraudulent sales of high-risk securities” »
FNG Exclusive… FNG has learned that Gain Capital has continued to reshape its management and board levels following the company’s 2020 acquisition by StoneX. Ian Tyler, one of Gain Capital UK’s independent non-executive directors, has stepped off the board, and has joined the board of Australia/Singapore crypto exchange Dacxi, where he will serve as the…
Read More “Exclusive: Ian Tyler steps off Gain Capital UK board” »
Square, Inc. (NYSE:SQ) and Afterpay Limited (ASX:APT) today announced that they have entered into a Scheme Implementation Deed under which Square has agreed to acquire all of the issued shares in Australian “buy-now pay-later” company Afterpay by way of a recommended court-approved Scheme of Arrangement. The transaction has an implied value of approximately US$29 billion…
Read More “Jack Dorsey’s Square buys Afterpay for USD $29 billion” »
UAE based FX/CFD brokers ADSS and Equiti Group have been natural rivals for a number of years, both domestically and in their respective marches to expand on the international stage. So it was naturally quite newsworthy when this week FNG exclusively broke the story of ADSS UK CEO (since 2016) Paul Webb leaving, and then…
Read More “FX week in review: ADSS CEO moves to Equiti, XTB’s bad Q2, Darwinex fundraising” »
CME Group has published a notice of disciplinary action against Mercantile Exchange of Vietnam Corporation. Pursuant to an offer of settlement in which Mercantile Exchange of Vietnam (MXVC) neither admitted nor denied the rule violations or factual findings upon which the penalty is based, a Panel of the Chicago Board of Trade (CBOT) Business Conduct…
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