Why did the Australian police raid the offices of Prospero Markets, an ASIC licensed CFD broker, arrest the company’s shareholder and freeze Prospero’s accounts?
What happened to (almost) all the cash in FG Acquisition Corp, the SPAC intended to merge with Retail FX and CFDs broker ThinkMarkets, which would bring ThinkMarkets to the Toronto Stock Exchange?
Who started the new Lebanon-based brokerage PrimaCapital?
Who has been hired to lead ATFX’s Australian business?
Where has experienced FX industry marketing executive Drosoula Hadjisavva (ex ThinkMarkets, Orbex, BDSwiss, FXCC, IronFX) become CMO now?
Some of the most read and commented FX/CFD industry news that appeared in the last seven days on FNG include:
Exclusive: Australian police raid ASIC-licensed CFD broker Prospero Markets, accounts frozen. Exclusive FNG… FNG has learned that the Australian Federal Police (AFP) raided the Melbourne offices of ASIC-licensed Retail FX and CFDs Prospero Markets as part of a wider action taken by the AFP against a China-based money laundering ring. Prospero Markets has frozen all of its bank accounts and ceased all client activity following the AFP raid in late October. As part of the raid, the sole director of Prospero Markets’ ultimate holding company CJ Prime Financial, Ding Wang, was arrested by the AFP along with a number of other people associated with the company.
Exclusive: ThinkMarkets IPO partner FG Acquisition confirms cash down from $118 million to just $2 million. Exclusive FNG… Following our exclusive report in July that FG Acquisition Corp (TSE:FGAA.U), the special purpose acquisition company (or SPAC) that agreed to merge with Retail FX and CFDs broker ThinkMarkets, had seen a massive takeover event Almost all of FG’s public shareholders chose to redeem their shares for cash rather than proceed with the ThinkMarkets merger, FNG has now learned from regulatory filings made in Canada that FG’s coffers have indeed been nearly emptied since the acquisition.
Exclusive: OneRoyal bizdev exec Ali Marwani is leaving to start new CFDs broker PrimaCapital. Exclusive FNG… FNG has learned that long-time OneRoyal executive Ali Marwani has left the company to launch a new Retail FX and CFD brokerage brand called PrimaCapital. PrimaCapital, on the website prima-capital.com, will offer trading in a variety of CFDs on the MT4 and MT5 platforms. The company will operate from Beirut, Lebanon, apparently without any listed license or regulation.
CFI adds SCA category 1 license in UAE. Leading electronic trading provider CFI Financial Group has announced the addition of its newest Class 1 licence, granted by the UAE’s Capital Markets and Commodities Authority (SCA). The new license comes as CFI’s second in the country, adding to the Group’s impressive arsenal of regulatory support in several other jurisdictions including the UK, Cyprus, Lebanon, Jordan, Egypt, Palestine, Oman, Mauritius and other jurisdictions.
Top FX industry executive moves reported on FNG this week included:
❑ SquaredFinancial hires Drosoula Hadjisavva as CMO, Thomas Selby as CSO.
❑ Exclusive: MultiBank CBDO Roman Krutyanskiy departs.
❑ Exclusive: Orbex brokerage executive Hakam Thalji joins The Trading Pit as Head of Dealing.
❑ ATFX hires Simon Naish as Country Head in Australia.
❑ Binance appoints Richard Teng as its new CEO.