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Australians in dispute with banks, insurers, super funds, investment firms and financial advisers lodged more than 70,000 complaints with the Australian Financial Complaints Authority (AFCA) in the past 12 months. They secured more than $240 million in compensation and refunds after seeking AFCA’s help, as well as outcomes such as fee waivers, debt forgiveness and…

Read More “Investments account for 6% of complaints received by AFCA in 2020-21” »

Retail FX broker eToro is improving the trading conditions on its CopyTrader platform. A few months ago, the minimum Copy amount was increased to $500. Back then, the company said the change was temporary. Now, eToro announces that the amount has been reverted to $200, making it easier to invest with CopyTrader. Traders can explore…

Read More “eToro reverts minimum copy amount to $200” »

Online trading company Rakuten Securities Hong Kong Ltd has resumed accepting new open positions in TRY/JPY on Rakuten FX again from 28th June, 2021 (Market Open). The broker notes that: Gross buy and sell amount of entry order and open positions of TRY/JPY will be up to 3 million Initial margin for TRY/JPY will be…

Read More “Rakuten HK resumes accepting new open positions in TRY/JPY” »

Online brokerage firm Robinhood unveiled its “S-1” IPO filing after clearing comments with the US SEC on its first confidential filing made back in March, which included some interesting facts and figures about the company which has shaken up the world of retail brokerage. Robinhood reported that it holds $81 billion of client assets (as…

Read More “Robinhood IPO filed: 17.7M active users, $81B client assets, 50% first-time investors” »

The Australian Securities and Investments Commission (ASIC) has announced that a Melbourne man is charged with multiple counts of market manipulation. On 2 July 2021, Mr Gabriel Govinda of Melbourne, Victoria, appeared at a filing hearing in the Melbourne Magistrates’ Court faced with 23 charges of market manipulation and 19 charges of illegal dissemination of…

Read More “Australian trader faces prison term for market manipulation” »

Some internal management changes afoot at global Retail and Institutional multi-asset broker Equiti Group – which, seem to indicate that the company will be increasing its focus on the international / offshore part of its business. The company said that after three successful years as CEO of Equiti Capital (UK), the group’s Institutional B2B arm,…

Read More “Nigel Holmes named Equiti Capital CEO as Brian Myers heads Seychelles/Africa” »

Euroclear today provided an update on Euro settlement on and from 30 June 2021. Due to the expiry of some of Euroclear UK & Ireland’s regulatory statuses, securities constituted under the laws of Ireland and a small number of securities constituted under the laws of Cyprus, The Netherlands and Luxembourg, which are represented in the…

Read More “Euroclear updates on Euro settlement” »

Just a day after the UK Financial Conduct Authority (FCA) confirmed that Dolfin Financial (UK) Ltd has entered administration, the Financial Services Compensation Scheme (FSCS) has posted a brief update on the matter. At this point, FSCS is in the early stages of investigating whether there are any claims that meet the qualifying conditions for…

Read More “FSCS examines possibility of compensation for Dolfin clients” »

Broadridge Financial Solutions, Inc (NYSE:BR) today announced that it is further enhancing its regulatory compliance capabilities for broker-dealers with the acquisition of the cloud-based Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan. The solution provides a combination of surveillance and regulatory reporting as well as compliance consulting capabilities for US regulations. “We…

Read More “Broadridge acquires ECS assets from Jordan & Jordan” »

Richard Usher, a former FX trader known for his participation in the “Cartel” chatroom, is pushing for the Department of Justice (DOJ) to produce all relevant documents from the criminal case against him, so that the evidence could be used in related proceedings brought by the Office of the Comptroller of the Currency (OCC). As…

Read More “Forex Cartel trader insists DOJ should not withhold evidence” »