Alleged cryptocurrency fraudster challenges CFTC’s regulatory powers over Bitcoin
Patrick McDonnell, a defendant in a virtual currency fraud case, says he is “a sacrificed pawn in a bigger game”.
Retail FX
Japanese authorities keep issuing business improvement orders against cryptocurrency firms
The latest virtual currency business to be sanctioned is Everybody’s Bitcoin Inc.
The odious advertising continues. Best in Germany? My foot – FinanceFeeds investigation
We investigate in great detail how misleading and fantasy-filled advertisement is being allowed to prevail, and document the bizarre response of the broker concerned when approached. Facebook and Google create hardship for the good guys, yet those with a track record of shapeshifting continue
CFTC secures default order against Tallinex as broker does not reply to complaint
Tallinex has failed to appear or otherwise defend, and the time allowed by law for answering has expired.
Former Yukom’s CEO Lee Elbaz pleads “not guilty” in binary options fraud case
Elbaz pleads “not guilty” to count 1 (conspiracy to commit wire fraud) and counts 2-4 (wire fraud).
Insurance, taxes, hosting: FinanceFeeds looks at the first claims against Global Brokerage
Although there has been no order by the Court to file claims in the bankruptcy case of Global Brokerage, some companies and individuals have acted proactively.
Monex Boom Securities launches Hong Kong Futures trading service
The broker enables its clients to trade futures contracts on the Hong Kong Futures Exchange through its “eFutures” trading system.
High Court orders closure of special administration of Alpari (UK)
The appointments of the Special Administrators will cease to have effect upon the registration of the final progress report, the High Court ordered on April 19, 2018.
A little too late: Europe’s lax policy on binary options hampers US enforcement actions
Whereas ESMA has finally decided to impose a ban on binary options, the long-lasting lax approach towards binary options brokers in Europe is now creating troubles for US authorities.
ZZZ Coin runs into trouble in Quebec
Quebec’s Financial Markets Administrative Tribunal is not impressed with a coin that claims to fight against volatility in the cryptocurrency markets.
CFTC seeks default order against unresponsive Forex broker Tallinex
Nearly a year after the US regulator launched its lawsuit against retail FX broker Tallinex, it pushes for a default judgement against the company.
Offshore chaos: Massive percentage of Vanuatu’s population runs away permanently. Want stability? Do NOT register there
Vanuatu, like most offshore regions where some unregulated FX firms choose to register their business, is now witnessing the permanent emigration of the vast majority of its population, representing the entire populace of Ambae. We look at the grave consequences of registering and operating from what is probably the world’s most unstable jurisdiction – you effectively face losing your entire brokerage and its funds.
Alleged Bitcoin fraudster demands cryptocurrency trading info from CFTC and CME
Judge says “no” to Patrick McDonnell’s request to subpoena the personal cryptocurrency trading accounts/records of a number of CFTC and CME attorneys and investigators.
Widow of Forex fraudster has to pay more than $800,000 because of his scam
The Securities and Exchange Commission, however, said there would be no civil monetary penalty imposed on the widow of Steve Karroum, head of FX & Beyond.
CFTC goes after ex-convict over proprietary Forex trading fraud
When soliciting funds, Michael J. Salerno forgot to mention his felony conviction and his Chapter 7 bankruptcy filing.
Interactive Brokers’ earnings rise in Q1 2018 on the back of higher commissions
The results for the quarter were positively impacted by strong growth in net interest income and higher commissions.
KVB Kunlun’s Li Zhi Da to retire as Director and Board Chairman
He is set to retire at the company’s 2018 annual general meeting to be held on May 21, 2018.
ArenaFX tells clients to close positions on ZuluTrade before May 26, 2018
The Japanese retail FX broker aims to refresh and upgrade “ArenaFX ZuluTrade”.
Australian Treasury consults on ASIC enforcement powers under new client money regime
ASIC will be provided with alternatives to civil proceedings: in particular, the ability to issue infringement notices and enter into enforceable undertakings with licensees.
