CFTC responds to arguments by TFS-ICAP’S CEO Ian Dibb in fraud case

The regulator argues that brokers at TFS-ICAP routinely reported fake, non-bona fide FX Options transactions on TFS-ICAP’s electronic trading platform. The action brought by the Commodity Futures Trading Commission (CFTC) against TFS-ICAP, the Chief Executive Officer, Ian Dibb, and the Head of Emerging Markets broking, Jeremy Woolfenden, continues at the New York Southern District Court.

ASIC wholesale FX report: Last look rejection rates for Australian clients at around 1.5%

The regulator held over 30 meetings with industry and concluded there was generally limited understanding of last look among clients. The Australian Securities & Investments Commission (ASIC) has earlier today published its report on wholesale FX practices in Australia. Following ASIC’s work reviewing wholesale FX markets and participants in 2018 and 2019, the regulator identified

Switzerland’s FINMA warns of risks stemming from transitioning away from LIBOR

Inadequate preparation for the replacement of LIBOR interest rates, including Swiss franc LIBOR, represents a key risk, according to the Swiss regulator. The Swiss Financial Market Supervisory Authority (FINMA) has earlier today published its Risk Monitor. The report provides an overview of what FINMA believes are the most important risks currently facing supervised institutions and