Finance

FCA Slaps £4,8m Fine on BGC Brokers and GFI Subsidiaries

FCA Slaps £4,8m Fine on BGC Brokers and GFI Subsidiaries

The Financial Conduct Authority (FCA), UK’s regulatory watchdog, has fined BGC Brokers LP and two GFI Group subsidiaries, GFI Brokers Limited and GFI Securities Limited, £4,775,200 due to ineffective detection of potential market abuse and failure to provide adequate control systems. As per the FCA’s statement, the inter-dealer brokers failed to implement the Market Abuse …

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How Can the Retail FX/CFD Industry Withstand Biting Global Inflation?

How Can the Retail FX/CFD Industry Withstand Biting Global Inflation?

According to Finance Magnates Intelligence’s August report, the value of first-time deposits by retail traders into forex and CFD accounts hit an all-time low, dropping to just $663 dollars from $1,354 recorded in July. Meanwhile, the average single withdrawals in August spiked higher to $2,293, which is up from July’s $1,902. The data suggests that …

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Johan Wiese Joins IG Markets South Africa as Director

Johan Wiese Joins IG Markets South Africa as Director

Johan Wiese, the IG Group’s Finance Chief Operating Officer (COO), has joined the online trading provider’s subsidiary, IG Markets South Africa (IGMSA), as a Director. Wiese, who boasts of close to two decades of financial industry experience, was appointed Director on the 30th of last month, the firm’s latest Companies House filing shows. A separate …

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FCA Slaps £4,8m Fine on BGC Brokers and GFI Subsidiaries

FCA Slaps £4,8m Fine on BGC Brokers and GFI Subsidiaries

The Financial Conduct Authority (FCA), UK’s regulatory watchdog, has fined BGC Brokers LP and two GFI Group subsidiaries, GFI Brokers Limited and GFI Securities Limited, £4,775,200 due to ineffective detection of potential market abuse and failure to provide adequate control systems. As per the FCA’s statement, the inter-dealer brokers failed to implement the Market Abuse …

FCA Slaps £4,8m Fine on BGC Brokers and GFI Subsidiaries Read More »