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The Price Isn't Right! "Dead" Banker Sentenced to 70 Years in Jail for $72 Million Fraud
- Aubrey Lee Price, a former preacher and investment adviser who faked his own death, pleaded guilty to defrauding his clients and his bank and was sentenced to 70 years in prison Tuesday by a U.S federal court.
Wednesday, 29/10/2014 | 11:43 GMT by
Avi Mizrahi
Tullett Prebon Ex-Employee Joins the List of Traders Charged over LIBOR Manipulations
- Noel Cryan is the first former Tullett Prebon employee known to face charges from the British criminal prosecutors. Former staffers at rival brokerages ICAP and RP Martin have already faced charges.
Wednesday, 29/10/2014 | 10:21 GMT by
Avi Mizrahi
As the Fed Mulls Pulling the Normalization Trigger, Can Bullish Markets Bear It?
- The Fed's October meeting is highly anticipated and awaited by market participants of all types. Despite the Fed's pretence, if QE3 officially ends today QE4 will be what the markets scream out for in 2015.
Wednesday, 29/10/2014 | 03:39 GMT by
George Tchetvertakov
Bank of Japan Maintains Mantra of Incoming Higher Inflation despite Falling Oil Prices
- Governor Haruhiko Kuroda presented the BoJ’s report before the Committee on Financial Affairs and the House of Councillors, outlining that the central bank is on track to deliver on its promise for 2% inflation.
Tuesday, 28/10/2014 | 12:13 GMT by
Victor Golovtchenko
Forex Magnates Awards, Where You Get to Choose the Industry's Best
- The online ballots determining the winners of the only awards in the industry given by peers will be opened in few days, exclusively for the London Summit 2014 attendees. Don't miss your chance to have your say!
Tuesday, 28/10/2014 | 09:43 GMT by
FMAdmin Someone
ANZ Gaffe Leads to Trading Halt at the Australian Stock Exchange
- Trading in the shares of Australia's third largest bank has now resumed, but yesterday's halt underlines the fragility of financial information given such small margins of perception in terms of investor confidence.
Tuesday, 28/10/2014 | 07:55 GMT by
George Tchetvertakov
Italian CONSOB Introduces Emergency Short Selling Ban Following ECB Stress Tests
- Italian FTSE MIB Index lost 2.4% after the ECB’s new stress testing methodology revealed that Italian banks Banca Monte dei Paschi di Siena & Banca Carige faced a combined shortfall of about $2.9 billion.
Monday, 27/10/2014 | 19:44 GMT by
Victor Golovtchenko
Cyprus and Mauritius Watchdogs Spell Out ill-Devised Broker Scam
- The CySEC and FSC Mauritius has informed the public that LiveFX Trader is not and has not at any time been licensed by neither regulator, citing ill-devised fraudulent documentation with some basic errors.
Monday, 27/10/2014 | 15:10 GMT by
Avi Mizrahi
NFA Bars Bullion Trading Advisor Years after He Stopped Operations and Left the US
- The association said that it started its investigation of Success Bullion in 2014 but the firm did not operate for at least two years before. The owner migrated back to Taiwan in June 2011 and shut down the company.
Monday, 27/10/2014 | 11:50 GMT by
Avi Mizrahi
Tectonic Shift in Japan's Domestic Energy Policy Is Forging a New Global LNG Marketplace
- It is often the case that tough times lead to good opportunities. In Japan's case, a crushing earthquake and ensuing tsunami has crippled its nuclear power industry only to give hope to another - Liquid Natural Gas.
Monday, 27/10/2014 | 09:49 GMT by
George Tchetvertakov
FXCM to Pay $180,000 Penalty for Unregistered Trades to Canadian Provincial Regulators
- The NYSE listed brokerage has agreed to pay a penalty of $180,000, of which $22,000 will be paid to the New Brunswick's Financial and Consumer Services Commission - recently established by the provincial government.
Monday, 27/10/2014 | 09:09 GMT by
Avi Mizrahi
Twenty-Four Banks Fail ECB Stress Test, Capital Shortfall Is Proportionally Highest in Cyprus
- The European Central Bank's comprehensive assessment, which consisted of an asset quality review and a forward-looking stress test of the banks, found a combined capital shortfall of about €25 billion at 25 banks.
Sunday, 26/10/2014 | 14:53 GMT by
Avi Mizrahi
Who Partnered with Arsenal and Which Broker's Revenue Soared? Read Our Best Stories of the Week
- Forex Magnates spotlights the recent global industry’s news you must know all about, from changes undergoing at Australian brokers to regulators joining forces to offer a dual gambling/financial licence and more.
Sunday, 26/10/2014 | 10:54 GMT by
Avi Mizrahi
China's Forex Regulator Not Worried about "Hot Money" Capital Outflows, Monitors U.S Policy
- The head of the department of international payments at SAFE explained that the decline in reserves was caused by the USD appreciation, which reduced the dollar value of the reserves held in other currencies.
Thursday, 23/10/2014 | 14:03 GMT by
Avi Mizrahi
London Metal Exchange Allies with Chinese Group to Support the Globalisation of RMB
- The London Metal Exchange, a part of Hong Kong Exchanges and Clearing Group, signed a strategic alliance agreement with China Merchants Group to further strengthen its position in the offshore RMB arena.
Thursday, 23/10/2014 | 11:28 GMT by
Avi Mizrahi
Former Indonesian Commodity Futures Trading Regulator Faces 10 Years in Jail for Corruption
- Syahrul King Sempurnajaya tried to hide the proceeds of his corrupted acts by transferring money to his second wife's account at Bank Central Asia as many as 91 times until 5 April 2013, totalling USD 786 million.
Thursday, 23/10/2014 | 09:17 GMT by
Avi Mizrahi
Gold Bullion Market Remains Fundamentally Precious Despite Dislocations in Derivatives Pricing
- With GOFO rates hovering in and out of negative territory and spot/future prices dipping in and out of backwardation, Gold market dislocations could be pointing to a broader and more pervasive problem in the financial markets.
Thursday, 23/10/2014 | 03:02 GMT by
George Tchetvertakov
Breaking: DMM FX Australia Adopts "Ultra-Low Fixed Spreads" on All Trading Pairs
- The move raises the question: did FXCM start a new price war between brokers in Australia last week when it switched to a raw spreads model and how low can profits go if brokers will be forced to compete on spreads?
Wednesday, 22/10/2014 | 16:21 GMT by
Avi Mizrahi
Stress Test Speculation Slams Euro Lower, ECB Warns about Unconfirmed Media Reports
- A report by Spanish newswire Efe, warning that at least 11 banks have failed the European Central Bank’s stress test has been dismissed by a spokesperson for the ECB as highly speculative.
Wednesday, 22/10/2014 | 14:59 GMT by
Victor Golovtchenko
Interactive Brokers Suffers Comprehensive Loss in Q3 2014 Due to USD Appreciation of $211 MLN
- The decrease in market making profits can also be attributed to lower average volatility, higher global M&A activity and a trading error that resulted in a loss of approximately $16 million during the quarter.
Tuesday, 21/10/2014 | 20:57 GMT by
Avi Mizrahi
Strong Rebound for Alpari Group in September as Trading Volumes Increase 31.5% MoM
- Last year, the total trading volume for the month of September reached $260 billion for Alpari group, meaning that the group suffered about $43 billion drop compared to 2013, coming out at a yearly 16.5% decrease.
Tuesday, 21/10/2014 | 15:11 GMT by
Avi Mizrahi
MetaQuotes Rolls Out VPS Service for MT4 as Build 735 Goes Live
- With Build 735 going live on MetaTrader 4, traders will now have direct access to connect to a low cost VPS available with many global access points via a partnership between Webzilla and MetaQuotes.
Tuesday, 21/10/2014 | 08:00 GMT by
Ron Finberg
Exclusive: City Index Integrates MT4 Accounts with its Proprietary G2 Platform
- Mike Lear, CIO at City Index explained the choice of the integrator and bridge developer saying: “We selected Gold-i because of their strong reputation in highly complex trading system integrations."
Tuesday, 21/10/2014 | 07:02 GMT by
Avi Mizrahi
Who Got Banned in Australia and How Many Traders Lost? Read Our Best Stories of the Week
- Forex Magnates spotlights the recent industry’s news you must know all about this week, from a global broker changing its pricing model in a couple of countries to a British CFD broker gaining a license in Cyprus.
Sunday, 19/10/2014 | 09:24 GMT by
Avi Mizrahi
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