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IndustryBanks eagerly register for access to the Korean onshore FX market

Exciting news for international banks! The doors of South Korea's onshore foreign exchange market are swinging open, and banks are hurrying to secure their spots. The Bank of Korea is introducing a scheme that will allow offshore banks to trade in this market as registered financial institutions. From the first day of the new year, banks that become designated RFIs can engage in deliverable interbank and dollar/won spot, forward, and swap trades within South Korea. As an added bonus, these RFIs will even have the ability to offer won forwards to their offshore customers and conveniently clear them with approved local brokers. This opportunity has banks racing against the clock to be a part of the action.

WikiFX2022

2023-12-27 15:04

IndustrySFC's Improved Position Limit Regime

The Securities and Futures Commission (SFC) has announced that starting from 22nd December 2023, the amendments to the Securities and Futures (Contracts Limits and Reportable Positions) Rules (referred to as the "Rules") is in effect. These amendments are designed to strengthen the position limit system in various ways. This includes providing clear guidelines on how the Rules apply to asset managers who oversee funds or sub-funds of umbrella funds, as well as outlining the regulatory expectations for trustees concerning compliance with the Rules. Additionally, the amendments expand the list of "specified contracts" that qualify for excess position limits, introduce an excess position limit system for clearing participants, raise the statutory position limits for specific futures and options contracts, establish position limits and reporting levels for newly introduced contracts, and implement reporting requirements for large open positions during holiday trading periods. The objective of these changes is to offer greater transparency and guidance on regulatory obligations pertaining to funds, making compliance easier for all parties involved.

WikiFX2022

2023-12-26 15:45

IndustrySomething You Need to Know About Inefex

Inefex, a broker operating in the financial industry has faced scrutiny due to the absence of valid regulation and a suspicious regulatory license. Without proper oversight from governing bodies or regulatory authorities, concerns arise regarding the transparency and accountability of the broker. Inefex offers trading in stocks, cryptocurrencies, currencies, commodities, and indices. These instruments provide opportunities for investors to speculate on the value and movement of various assets. According to WikiFX, Inefex is not a regulated broker. Inefex doesnt hold a regulatory license, which is a red flag. The lack of regulation raises concerns about the transparency and accountability of the broker, exposing investors to potential risks.

WikiFX2023

2023-12-22 14:00

IndustrySenior Managing Director Co-Investments and Chairman of Private Equity Investment Committee

Marius is a Senior Managing Director on the Co-Investments team and Chairman of Private Equity Investment Committee. He has over 25 years of experience in private equity and investment management. Prior to joining Capital Dynamics, Oliver held positions with Arthur Andersen, GE Capital and Sal. Oppenheim. He was also for over ten years chairman of the supervisory board of a German listed business and took a small German pharmaceutical company public on the Frankfurt Stock Exchange. Marius completed an exchange program in Business Administration at the University of Illinois at Urbana Champaign and holds a Diplom Kaufmann degree (MBA equivalent) from Philipps University Marburg.

Marius MC

2023-12-21 20:45

IndustrySEC Releases Staff Report on Accredited Investor Definition

The Securities and Exchange Commission has just released a staff report about the accredited investor definition. According to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Commission needs to reassess the definition every four years for any necessary modifications. In 2015 and 2019, the definition was already reviewed by the Staff. For this third review, the report was prepared by the Divisions of Corporation Finance and Economic and Risk Analysis. The report looks into the current state of the accredited investor pool and also includes a discussion on proposed changes to the definition that came from various sources like public commenters, the Investor Advisory Committee, and the Small Business Capital Formation Advisory Committee.

WikiFX2022

2023-12-21 12:29

IndustryID Fraud Explained | Protect Your Identity

Israeli identity verification technology firm AU10TIX has recently unveiled its Q3 2023 Global Identity Fraud Report, a comprehensive analysis of millions of transactions across 249 nations spanning July through September 2023. This thorough examination exposes notable alterations in organized identity fraud patterns. Among the key findings, the report highlights a noteworthy ***** of 56% in fraudulent activities within the digital payments sphere. This substantial rise stands in stark contrast to a significant 51% decrease in fraudulent incidences associated with cryptocurrencies. Identity fraud involves the unauthorized use of personal information, such as Social Security numbers, credit card details, or other sensitive data, for deceptive financial gain. Perpetrators deploy various methods to acquire this information, from phishing scams and data breaches to social engineering tactics.

WikiFX2023

2023-12-21 12:27

IndustryHTFX: Erasing Clients’ Profits

Abdulkadir, a young Turkish trader, embarked on this investment journey by initially depositing $3500 into his HTFX account. However, despite his transactions, the investments took a downward spiral, resulting in a loss of his deposited funds. Undeterred, Abdulkadir took another chance, funding the account for a second time with $3000. Employing what he believed were effective strategies, he managed to recoup his losses and generate a profit. With hopes soaring, he initiated a withdrawal to secure his gains, only to face an unexpected turn of events. In a startling twist, HTFX accused Abdulkadir of engaging in arbitrage, subsequently nullifying his profits. Despite his assertion that his actions were legitimate and based on sound trading strategies, HTFX refused to honor his earnings, alleging rule violations.

WikiFX2023

2023-12-20 15:21

IndustryFSCA Releases findings of Crypto Assets Market Study

The crypto economy in Sub-Saharan Africa is the smallest compared to other regions, representing only 2.3% of the global transaction volume from July 2022 to June 2023. However, during this time, the region attracted around $117.1 billion in on-chain value, which is quite impressive. Despite being a relatively smaller cryptocurrency market, Sub-Saharan Africa has seen significant adoption among key populations. Nigeria, in particular, stands out as it ranks second on the 2023 Chainalysis Global Crypto Adoption Index. Other countries in the region, such as Kenya (21), Ghana (29), and South Africa (31), also score high on the index. Additionally, a study conducted by Triple A (Singapore Blockchain company) in 2022 revealed that over 5.8 million people, which makes up 9.44% of South Africa's total population, currently own crypto assets. This number is projected to grow, with 43% of the population expected to be using cryptocurrencies by 2030.

WikiFX2022

2023-12-19 14:18

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