Brokers News 

UK Watchdog Updates Blacklist of Unauthorized Binary Options Brokers

“The FCA is not the only government agency to move against binary options” reports financemagnates.com. The regulator maintains a blacklist of binary option brokers based upon information received from consumers, partner agencies and from monitoring the online market.In what UK police have described as the biggest operation of its kind, officers swooped on the offices of 20 binary options brokers to review their compliance documents and gather intelligence on different types of investment fraud.In line with practices across most of the EU, the FCA has brought certain types of binary options within…

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Brokers News 

KPMG files notice of Alpari moving from administration to dissolution

“The final progress report was issued following the receipt of the Court Order regarding closure of the special administration” reports financefeeds.com. All matters within the special administration have now been dealt with and the JSAs have applied to cancel the FCA registration of Alpari (UK).During the special administration, the JSAs have paid and declared two client dividends totalling 82.0 cents in the $. Source: financefeeds.com Share This:

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Brokers Crypto News 

Unlicensed Cryptocurrency Broker Forfeits $1.1m…

“He acted as an unlicensed money transmitter and was eventually uncovered by federal agents” writes Jp Buntinx for livebitcoinnews.com. On top of that, Ong also forfeits $1.1m in cash and Bitcoin holdings combined.His business as a Bitcoin ‘broker’ eventually attracted the attention of law enforcement officials.He isn’t interested in where the money comes from, as he simply wants to run a Bitcoin brokerage service. Source: livebitcoinnews.com Share This:

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Brokers News 

Final report into Alpari administration is out, agreed final client balances total $95.8m

“The final progress report is issued following the receipt of the Court Order regarding closure of the special administration” reports financefeeds.com. The Joint Special Administrators of KPMG have earlier today posted their final progress report into the administration of now-defunct retail FX broker Alpari (UK).Any information and circulars issued to clients and creditors during the special administration can be found at http://www.kpmg.com/uk/alpari.All matters within the special administration have now been dealt with and the JSAs have applied to cancel the FCA registration of Alpari (UK). Source: financefeeds.com Share This:

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Brokers News 

Leverate’s Global Head of Sales Ben Richter moves on to lead EuropeFX’s Australian division

“Mr Richter has been appointed Head of Australia at Cyprus retail FX brokerage EuropeFX, signaling the end of his tenure at brokerage technology provide Leverate” reports financefeeds.com. Joining EuropeFX represents a return to the retail FX brokerage sector for Mr Richter, who has spent the past two and a half years at Leverate, where he commenced his tenure as Head of Institutional Sales in January 2016, being promoted to Head of Global Sales in September 2017. Indeed, having worked at length on such a project, Mr Richter’s remit to drive…

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Brokers News 

Chinese Bank Unit to Pay Over Money-Laundering Compliance

“Photo: Reuters U.S. authorities and financial industry regulators penalized the New York-based brokerage unit of a large Chinese bank for failures in its anti-money laundering compliance program, imposing millions in fines” writes Samuel Rubenfeld for wsj.com. The brokerage also agreed to pay the SEC $860,000 without admitting or denying the commission’s findings.Industrial and Commercial Bank of China Financial Services LLC, or ICBCFS, cleared and settled billions of penny-stock shares without a sufficient compliance program, according to findings from the Securities and Exchange Commission and the self-regulator Financial Industry Regulatory Authority.The…

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Brokers News 

Bhutan, a country known for its index that measures happiness, is dealing with a mental health crisis

“It was 1999, the same year two things happened that would define Bhutan’s mental health landscape for years to come” writes Emily Johnson for businessinsider.com. Resources dedicated to mental health are stretched thin, and ingrained cultural traditions sometimes prove difficult to overcome.Together with high rates of alcoholism and domestic violence, this shift has created a mental health crisis in a country that is struggling to keep up, according to interviews with Bhutanese mental health professionals like Dorji — known as Dr.Later he began training doctors at the district level in basic mental…

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