Now defunct FX broker Alpari (US) has dropped its “last look” lawsuit against BNP Paribas. This becomes clear from the latest documents filed with the New York Southern District Court. A notice of dismissal, seen by FX News Group, states that Alpari (US) dismisses its action without prejudice against defendant BNP Paribas, S.A. Alpari says…
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The wave of public anger regarding the insultingly low $65 million penalty imposed by the Securities and Exchange Commission (SEC) on Robinhood has failed to dissuade the regulator from proceeding with its distribution plan regarding the penalty. About a month after the Commission opened a consultation into the distribution plan, the regulator has approved the…
Read More “SEC approves distribution plan for $65M Robinhood penalty” »
Nukkleus Inc. has announced that effective August 2, 2021, Jamie Khurshid was appointed as Chief Operating Officer (COO) of the company. Jamie Khurshid was an investment banker for over 20 years at Goldman Sachs, Credit Suisse and Royal Bank of Scotland before joining Cinnober Financial Technology. Cinnober is a leading independent exchange and clearing house…
Yet another Retail FX broker signing a front-of-shirt sponsorship deal with a recognizable European soccer club. NAGA Group AG, which operates the social trading focused NAGA.com website, and popular Spanish football club Sevilla FC have announced a new partnership agreement for the next seasons. NAGA has been officially unveiled as Sevilla FC’s new front of…
Read More “NAGA becomes front-of-shirt sponsor of Sevilla FC” »
FNG Exclusive… FNG has learned that longtime LMAX Group executive Scott Moffat has resigned from the company. Scott Moffat was an early employee at London based institutional trading venue LMAX, joining in 2008 as head of operations after working for four years at gaming company Betfair, which at the time had an ownership interest in…
Read More “Exclusive: LMAX Group Asia Pacific head Scott Moffat departs” »
US derivatives market regulator the National Futures Association (NFA) has announced that it has ordered New York based introducing broker Tullett Prebon Financial Services LLC (TPFS) to pay a $150,000 fine. The Decision, issued by NFA’s Business Conduct Committee (BCC), is based on a Complaint issued by the BCC and a settlement offer submitted by…
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FNG Exclusive… FNG has learned that Harry Campbell-Lamerton has resigned his position as COO of FCA regulated FX/CFDs broker Valutrades. He has also stepped off the board of Valutrades Limited. Harry Campbell-Lamerton was hired to Valutrades as the #2 to longtime CEO Graeme Watkins in 2018. He joined Valutrades after spending three years as Institutional…
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The UK financial regulator The FCA has announced that it has acted to stop Cyprus based firm BDSwiss Holding Plc, and other members of the BDSwiss Group, from offering high risk contracts for differences (CFDs) to UK investors. The BDSwiss Group trades using the brands BDSwiss, Swissmarkets and BDS Trading. The regulator said that BDSwiss…
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After pre-announcing in mid June that it was going to have a record first half on both the top and bottom line, Switzerland online broker Swissquote released its actual results confirming its earlier announcement. Following the trend of the year 2020, Swissquote (SWX:SQN) said it surpassed its initial forecasts in the first half of 2021….
Read More “Swissquote confirms record Revenues and Profits for 1H-2021” »
Following our earlier coverage of the FCA’s announcement that it is stopping CySEC licensed broker BDSwiss from offering CFDs to UK customers, FNG spoke with BDSwiss management and received an official response, which we are posting in full below: BDSwiss Official Media Response to the FCA announcement In light of the latest FCA announcement and…
