After Drew Niv, William Ahdout’s FCA register status goes “inactive” too

Maria Nikolova

Effective March 16, 2017, Mr Ahdout is no longer a partner at Lucid Markets LLP, thus becoming “inactive”, according to the UK FCA register.

Former executives of FXCM, whose US operations were slammed by US regulators in early February this year, resulting in a permanent ban from membership in the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) for the broker and several of its principals, continue to shed top roles.

According to the latest information in the Financial Services Register managed by the UK Financial Conduct Authority (FCA), the status of William Ahdout, one of the ex-principals of FXCM US punished by the US authorities, is “inactive”.

Mr Ahdout was assigned such a status after having relinquished his position as a partner at Lucid Markets LLP. The move is effective March 16, 2017.

The change is barely surprising to those who monitor the developments around FXCM’s businesses following the US regulatory action in February 2017. Drew Niv has already abandoned his director role in Forex Capital Markets Limited (FXCM UK), as well as his position as a partner at Lucid Markets LLP. The latter, as FinanceFeeds has elaborated in a separate article, is an electronic market maker and trader in the institutional FX spot and futures markets, based in the UK. The FCA register shows that the status of Mr Niv is “inactive” too.

Moreover, as per FinanceFeeds’ recent report, Mr Niv and Mr Ahdout resigned as directors of Lucid Markets Trading Limited, a company that is on the officers’ list of Lucid Markets LLP. The change is effective March 10, 2017.

Just a day before that – on March 9, 2017, Mr Niv and Mr Ahdout abandoned their NFA registration as listed principals of Forex Capital Markets LLC. Meanwhile, the NFA database displayed a principal permanent bar and an NFA member permanent bar against the name of Forex Capital Markets LLC. On March 10, 2017, the company had six US registrations withdrawn, including (inter alia) the ones as Forex Dealer Member, Forex Firm, Retail Foreign Exchange Dealer, and Futures Commission Merchant.

Read this next

Digital Assets

Crypto exchange Bittrex exits US market amid regulatory woes

Bittrex said on Friday it plans to wind down operations in the United States and voluntarily liquidate because of the uncertain regulatory environment surrounding their business.

Institutional FX

Tradeweb completes integration of Nasdaq’s US fixed income platform

Tradeweb Markets has completed the technology integration of Nasdaq’s US fixed income electronic trading platform, formerly known as eSpeed, which it acquired two years ago in a $190 million, all-cash transaction.

Digital Assets

FTX Europe to allow client withdrawals via new website

The Cypriot unit of failed cryptocurrency exchange FTX has launched a new website that it says would allow customers to withdraw deposits of fiat currency and crypto assets after months of suspension.

Retail FX

Liquidators apply to cancel SVS Securities’ FCA license

An update published today by Leonard Curtis said the UK high court of justice has approve their application to bring the special administration of the failed wealth manager SVS Securities to an end.

Digital Assets

Japan forms government panel to pilot digital yen

Japan’s Finance Ministry has created an advisory panel to look at the feasibility of issuing a central bank digital currency, otherwise known as “CBDC”.

Digital Assets

USDC sees massive $10.4 billion outflows in March

Cryptocurrency traders have withdrawn more than $10 billion from the world’s second largest stablecoin, USDC, in less than three weeks even as concerns over the fallout from the Silicon Valley collapse have receded.

Interviews

OSTTRA’s Joanna Davies goes beyond 30-30-30 data standard at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Joanna Davies about OSTTRA.

Interviews

CloudMargin’s Stuart Connolly on how to manage collateral amid high rates at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Stuart Connolly about CloudMargin’s SaaS platform, said to be the only cloud-native collateral and margin management system in the industry, at a time of stress due to rising interest rates.

Interviews

Baton Systems’ Alex Knight on solving post-trade with DLT at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Alex Knight about Baton Systems’ about rising settlement fails, collateral management, and the profile of DLT beyond cryptocurrencies.

<