Insider says that OvalX might pause operations to start layoffs
For months now, companies have been making headlines due to dozens, hundreds, and even thousands of layoffs. They were deemed necessary in order to keep the firms in business during the difficult economic situation around the world. So farm major...
Virtu Financial closes another quarter with a revenue drop of over 40%
The last year has been very difficult on most types of businesses from all industries, including the financial industry itself. Many of the leading firms in their respective sectors have started struggling, and now, in early 2023, their financial reports...
Morgan Stanley fines employees for using WhatsApp to talk about official business
New York-based global investment bank Morgan Stanley recently issued penalties on a number of employees for endangering the company’s official business by discussing it on messaging platforms that are not deemed secure enough to be used for such purposes. The...
FCA launches investigations on three money transfer business
The Financial Conduct Authority has revealed that it has started investigations against three money transfer companies operating in the United Kingdom. The regulator noted that these money transfer companies might have violated the Competition Act of 1998. FCA investigates money...
UK’s FCA charges former Janus analyst and 4 others of £1.5M insider trading
The Financial Conduct Authority (FCA), the financial markets regulator for the United Kingdom, has charged a former analyst at Janus Henderson, Redinel Korfuzi, with insider trading. Korfuzi was charged alongside four others for committing insider trading violations between December 2019...
Compensation sought by FX traders dropped by 17% in 2022
In 2022, there was a 17% drop globally in the total compensation sought by forex traders from brokers. During the same period, the Financial Commission (FinaCom) reported a 76% increase in compensations sought by FX traders from broker members of...
Leading US banks partner for a digital wallet project
Some of the largest banking institutions in the United States are working together to provide a digital consumer e-wallet. The banks plan for the wallet to account for a significant share of the market currently dominated by some of the...
Your Bourse enhances offerings with floating leverage and floating commissions
Your Bourse has enhanced its offerings after announcing the addition of floating leverage and floating commissions. These new features launched by the platform will boost the ability of the execution engine and the risk management platform. Your Bourse adds floating...
New Zealand’s regulator reports jump in investment scams in the 2022 fiscal year
The New Zealand financial markets regulating, the Financial Markets Authority (FMA), has reported a jump in the number of investment scams reported in the recent financial year that ended in June last year. The regulator noted that 111 investment scam...
CySEC reports a 7.2% drop in Investment managers’ AUM in Q3 2022
The Cyprus Securities and Exchange Commission (CySEC) reported assets under management for investment managers of €9.9 billion during the third quarter of 2022. The figure was 7.2% lower than what was reported in Q2 2022 and 14.7% lower than what...
ASIC comes up with reporting rules for foreign brokers targeting Aussie clients
The Australian Securities and Investment Commission (ASIC) is tightening the reporting rules for foreign financial firms operating in Australia. The financial markets regulator plans to ramp up enforcement efforts to ensure that Aussie brokerage companies comply with Australian laws. ASIC...
France had more than 1.5 million stock market investors in 2022
Autorité des Marchés (MF) has said that in 2022 there were over 1.5 million active investors in the France stock markets in 2022. The numbers released by the financial market regulator indicate a 5.5% drop from 2021. AMF says France...
Euro reaches a nine-month high as ECB signals at interest rate hikes
The euro has reached a nine-month high against the US dollar. The performance of the euro comes amid aggressive interest rate hikes in Europe. There are speculations that the European Central Bank will continue to adopt aggressive interest rate hikes...
ECB set to raise interest rates by 50 basis points in February and March
The European Central Bank is expected to hike interest rates by 50 basis points in February and March. The ECB is also expected to continue raising rates in the following months, according to Klass Knot, a governing council member at...
Brazil and Argentina make plans to release a common currency
Brazil and Argentina are exploring plans to release a common currency. The plans are focused on improving economic integration between the two countries. The plan was confirmed by the President of Brazil, Luiz Inacio Lula da Silva and the President...