Noteworthy News of Last Week
Forex Policy
Out of the noisy space of the broadcasting industry we bring news that matters.
During the second week of August, several significant contracts, promotions, fraud allegations, share repurchases, bans, and other important events occurred. This Forex Policy newsletter contains a summary of that news.?
Turkey’s CMB has listed 47 crypto companies seeking licenses under a new law signed by? President Erdo?an on July 2nd.? Renowned companies like Binance, OKX, and Bitfinex are among the applicants, highlighting Turkey’s position as the fourth-largest crypto market with $170 billion in trading volume. Full authorization is dependent until secondary legislation is introduced. This is expected to further the shape of Turkey’s crypto regulations.?
?The Securities Commission Malaysia fined Amran Bin Mohd Amin RM687,500 for misappropriating RM215,000 from investors, diverting funds into his account rather than investing them as promised RM215,000, and falsifying statements. This underscores the SC's commitment to financial ethics and follows similar actions against nine individuals since 2020.?
IG Group has launched a ￡75M share repurchase program, the first phase of a ￡150M buyback plan. Partnering with Morgan Stanley, the buyback will start from August 12, 2024, to October 31, 2024. This partnership aims to reduce share capital and enhance shareholder value. This follows a decline in pre-tax profit and trading revenue for the fiscal year ending May 31. Despite these challenges, IG Group continues to pursue growth and stability.
TrioMarkets has announced a partnership with Nigeria’s Enyimba FC!? For the 2024/25 season, TrioMarkets' logo will appear on Enyimba’s kits. Nigerian clients will enjoy exclusive access to merchandise, match tickets, and special experiences. This partnership amazingly combines football and finance.
AccessPay has appointed two new senior directors, Graham Morgan and Jim Conning, as part of their strategic growth plan. Graham Morgan is promoted to Product Director, leveraging his eight years of expertise at the company and Jim Conning joins as Director of Banking and Alliances, bringing over 20 years of experience to drive revenue growth.
These appointments follow a successful $24 million funding round, boosting AccessPay’s payment automation and data transformation efforts.
The FCA has issued an urgent warning about a cloned XTB website, xtb trading. org, which mimics the legitimate XTB platform.
领英推荐
Key information:
Fraudulent Site: xtbtrading. org
Fake Contact Info: Similar phone numbers and emails
Risk: Users may send funds to scammers
Verify brokers through official channels and be wary of suspicious offers. For more details, traders should check official regulatory databases.
The SEC(U.S. Securities and Exchange Commission ) has charged NovaTech Ltd. and founders Cynthia and Eddy Petion with major fraud, alleging they swindled over $650 million from 200,000+ investors. Funds were mainly used to pay earlier investors and promoters, not for trading. Key figures, including Martin Zizi, Dapilinu Dunbar, and others, are also charged. Zizi has settled with a $100,000 penalty and a permanent injunction.?The SEC and other regulators are pursuing justice and recovery for affected investors.?
CME Group has fined Marcio Tavares $70,000 and banned him permanently from its trading floors for manipulative trading. Between September 19 and November 10, 2022, Tavares was found guilty of placing and canceling large orders to mislead traders, and breaching CME Rules. His guilt was determined after he failed to respond or attend a hearing.
Crypto. com has signed a multi-year deal as the global crypto partner of the UEFA Champions League! Starting with the UEFA Super Cup on August 14, 2024, Crypto. com’s branding will feature at matches. Chief Marketing Officer of crypto .com? Steven Kalifowitz called it “a significant step in connecting cryptocurrency with the world’s most iconic sporting event.
TipRanks , a leading investment research platform, has been acquired by Prytek in a groundbreaking $200M deal! With over 50 million users and clients like Nasdaq and Morgan Stanley, TipRanks will advance its innovation under Prytek’s leadership. Since 2012, TipRanks has reshaped investment data access. Now part of Prytek’s financial services division, it’s poised for even greater progress.?
Prytek’s Andrey Yashunsky views the deal as a move toward democratizing investment insights, while TipRanks co-founder Uri Gruenbaum notes the strong synergy between the two companies.