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The United States Commodity Futures Trading Commission (CFTC) and 27 state securities regulatory agencies that are members of the North American Securities Administrators Association (NASAA) announced the filing of a joint civil enforcement action in the U.S. District Court for the Central District of California against a precious metals dealer and its owner for orchestrating…

Read More “CFTC and 27 state regulators take action against Safeguard Metals for $68M fraud” »

Provider of managed trading infrastructure Options announces the appointment of Jim Bomer as SVP, Director Market Data Division. Jim Bomer

TradeStation Crypto, Inc, a subsidiary of TradeStation Group, Inc., announces that JAG Insurance Group, a full-service South Florida-based commercial insurance agency, has opened a corporate account with TradeStation Crypto. TradeStation Crypto will provide the cryptocurrency platform and technology needed to support JAG’s corporate treasury solution. “We’re excited to see more South Florida-based companies entering the…

Read More “TradeStation Crypto to provide corporate cryptocurrency solution for JAG Insurance Group” »

Three of the world’s leading payment system providers – credit/debit card companies Visa and Mastercard, and online payments leader PayPal – put out statements Saturday that they will be suspending all operations in Russia. Visa and Mastercard cards issued is Russia will no longer work outside the country, and any cards issued by financial institutions…

Read More “US payment giants Visa, Mastercard and PayPal suspend Russia operations” »

While the events unfolding in Ukraine dominated most financial market news, it was a very mixed bag of Forex Industry News this past week: acquisitions, broker results, trading volumes record set, executive moves, new office openings, and lots more. Which group of former FX industry executives banded together to buy CySEC licensed Scope Markets? Which…

Read More “FX week in review: Scope Markets sold, record trading volumes, results from Admirals, IS Prime, Darwinex” »

Further to the announcements by Visa and Mastercard about the suspension of their operations in Russia, the Central Bank of the Russian Federation has issued a statement clarifying the situation. All Visa and Mastercard cards issued by Russian banks will continue to work as usual in Russia until their expiry date. Client funds in the…

Read More “Russian c-bank issues statement on Visa and Mastercard cards” »

The Commodity Futures Trading Commission (CFTC) has secured two more entries of default in its action against fraudulent Forex scheme ROFX. According to documents filed with the Florida Southern District Court, the CFTC has obtained entries of default against Notus LLC and Shopostar LLC, pursuant to Fed. R. Civ. P. 55(a), for failure to answer,…

Read More “CFTC secures more entries of default in lawsuit against ROFX” »

FNG Exclusive… FNG has learned that experienced FX industry executive Gareth Thomas has left CySEC licensed CFDs-on-NDFs provider Sheer Markets, and has joined US based Oasis Pro Markets. Oasis Pro Markets is a US-regulated alternative trading system (“ATS”), authorized to allow its subscribers to trade digital (“blockchain”) securities and make payment for those digital securities in…

Read More “Exclusive: Sheer Markets CCO Gareth Thomas leaves to join Oasis Pro Markets” »

Stuart Scott, a former FX trader and supervisor at HSBC, will seek to dismiss the indictment charging him with wire fraud and wire fraud conspiracy. This becomes clear from a motion for hearing filed by Mr Scott’s representatives with the New York Eastern District Court on March 3, 2022. The document, seen by FX News Group,…

Read More “Former HSBC FX trader to seek dismissal of wire fraud charges” »

Manchester City have today announced a global partnership with one of the world’s largest crypto exchanges, OKX, naming it the Club’s Official Cryptocurrency Exchange Partner. OKX’s first venture into the world of sport and entertainment, the partnership will span Manchester City men’s and women’s teams, in addition to the Club’s esports operations. OKX and Man…

Read More “Manchester City announces partnership with crypto exchange OKX” »