The Cyprus Securities and Exchange Commission (CySEC) today announced the withdrawal of the Cyprus Investment Firm authorisation with Number 174/12 of Sonaf Business Ltd. The withdrawal is done pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05. CySEC notes that the regulatory…
Read More “CySEC withdraws CIF license of SonaFX operator” »
Euronext NV (EPA:ENX) has just reported its financial results for the third quarter of 2021, with FX revenues continuing to slide. FX trading reported revenue amounted to €5.6 million in the third quarter of 2021, down 4.2% from the equivalent quarter in 2020, reflecting lower trading volumes as FX markets recorded a low volatility quarter….
Read More “Euronext reports 4.2% Y/Y drop in FX trading revenue in Q3 2021” »
The North American Securities Administrators Association (NASAA) today announced the results of a nationwide survey conducted by state securities regulators that provides a comprehensive look at broker-dealer industry policies and practices following the implementation of Regulation Best Interest (Reg BI) by the Securities and Exchange Commission. Melanie Senter Lubin, NASAA President and Maryland Securities Commissioner,…
Read More “Report shows many US broker-dealers cling to risky products despite Reg Best Interest” »
Equiniti Group PLC (LON:EQN) today provided an update on its acquisition by Earth Private Holdings Ltd – a newly-formed company owned by funds managed or advised by Siris Capital Group, LLC. On 27 May 2021, the boards of EQ and Bidco announced they had reached agreement on the terms of a recommended cash offer for…
Read More “Equiniti acquisition by Earth Private Holdings secures FCA approval” »
FNG Exclusive… Further to our recent exclusive reports that Bulgaria/UK based, FCA regulated online broker Trading 212 was rebuilding its management team – with the recent hires of former Tickmill CFO Mukid Chowdhury as CEO and longtime LCG executive George Mantilas as COO – FNG has learned that the company has continued to fill in…
Read More “Exclusive: Trading 212 hires Philip Parsons as CFO” »
The Australian Securities and Investments Commission (ASIC) has moved to shut down unlicensed financial services business A One Multi Services Pty Ltd, which is suspected to be engaging in unlawful activity. ASIC successfully obtained interim orders and injunctions from the Federal Court in Queensland against A One Multi and its Gold Coast-based directors Aryn Hala…
Read More “ASIC secures Court orders against unlicensed scheme A One Multi Services” »
Credit Suisse today posted its financial report for the third quarter of 2021. Credit Suisse reported a pre-tax income of CHF 1.0 billion for the third quarter of 2021. The result benefited from a positive impact relating to Archegos of CHF 235 million, mainly due to a release of provision for credit losses pertaining to…
Read More “Credit Suisse income benefits from Archegos-related impact in Q3 2021” »
Verena Ross started in her new position as Chair of the European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today. Ms Ross replaces Steven Maijoor, the former Chair, and is appointed for a five-year term, renewable once. A German national, she was Executive Director at ESMA from 2011 to 2021, having previously…
FNG has learned that seasoned FX industry executive Tim Rudland has joined ThinkMarkets’ new institutional FX operation, Liquidity.net, as Liquidity Manager. Tim Rudland had been with FXCM’s institutional and B2B services arm FXCM Pro for the past two years, serving as VP Institutional Sales. Prior to FXCM he spent four years at GKFX and six…
Read More “Tim Rudland joins Liquidity.net as Liquidity Manager” »
The United States Attorney for the Southern District of New York announced today that Donald Blackstad, a stock trader and the owner and principal of an investment fund known as Midcontinental Petroleum, was sentenced to 36 months in prison for committing insider trading and orchestrating a securities offering fraud scheme. Let’s recall that, in June…
Read More “Stock trader gets prison sentence for insider trading and investment fraud” »
