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    Broker Updates During Jan 4-10

    Abstract:Securities Commission Malaysia issues guidance note. The financial regulator warned against the rising number of unlicensed investment advisers.

      Vietnam

      Regulators Warning

      1. Securities Commission Malaysia issues guidance note. The financial regulator warned against the rising number of unlicensed investment advisers.

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      Monetary Penalty

      2. SEC announces charges settlement against Cormark Securities and Virtu ITG. Cormark agreed to pay $800,000 in penalty while SEC settled charges against Virtu ITG Canada with a $200,000 penalty.

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      Brexit Update

      3. IG Group releases Brexit update for EEA clients. The broker asked EEA clients to transfer accounts to IG Europe and verify identity before 8 January 2021.

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      Indonesia

       New Forex Brand

      4. M.FX industry veteran, Marcelo Spina has parted ways with ThinkMarkets and is launching a start-up that promises to smooth the online trading experience for both B2B and B2C sides, Finance Magnates has learned.

      Dubbed ‘Operar FX,’ the new venture sought by Marcelo Spina will have two primary divisions. The first will be an FX Consultancy/Liquidity Provision team that will work with retail brokers to match them up with existing liquidity providers in the FX/CFD space. The second will be a retail STP brokerage that will be focused on serving markets primarily in Latin America.

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      Thailand

      Retail Forex Deposits

      5. The retail Forex deposits of Interactive Broker grow 20pct in November. GAIN Capital was the worst performer, having lost $5.2 million in retail traders funds, to $217.8 million.

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      Authorization Withdrawn

      6. CySEC withdraws authorization of Otkritie Capital Cyprus. Controlled by Russias Otkritie FC Bank, the broker decided last summer to wind down its operations in Cyprus.

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      Japan

      XRP Trading

      7. After Ripple was sued by the US SEC, some Japanese exchanges took measures such as alerting price fluctuations and suspending services from the 24th Dec 2020.

      Exchanges that have suspended (or partially suspended) XRP trading in Japan are below (01st Jan 2021 as of now):

      ∙ Huobi Japan

      ∙ DeCurret

      ∙ GMO Coin (suspended part of XRP / JPY leverage trading)

      ∙ Rakuten wallet

      Commonwealth of Independent States (CIS)

      Business Partnership

      8. The international company FreshForex entered into a partnership with the Russian forex trader Alfa-Forex. New clients-residents of the Russian Federation will be able to open an account without violating Russian legislation.

      RAMM Platform

      9. Broker RoboForex has removed the RAMM platform from the line of investment products. The decision was made as part of the ongoing internal optimization process. Access to the platform for clients was closed in November 2020.

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