Fazzaco Weekly Digest: Prop Trading Firms Raise Regulatory Concerns Again; CFTC Report Shows Retail Forex Funds in US Remained Unchanged; Prospero Markets Liquidation Updates

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. In addition, we have updated the CFTC report on US retail forex funds data in May. Below are some of the most read news and articles from Fazzaco.

Prop Trading Firms Raise Regulatory Concerns Again​

In a warning released by Consob last Monday, the Italian financial regulator, investors are being cautioned about the risks associated with a new wave of online trading simulations that mimic real financial activities under the guise of educational games

UK FCA Issues Warning Against 46 Unauthorized Companies​ & Italian CONSOB Adds 5 New Unauthorized Financial Websites to Its Blacklist​

The UK Financial Conduct Authority (FCA) issued warnings against 46 new companies from July 1-5, 2024 that are soliciting customers in the UK jurisdiction without any licenses or are clones of authorized platforms.

The Italian financial watchdog CONSOB has released an announcement on July 11, which ordered the black-out of 5 new websites that offer financial services illegally since July (until the release date), bringing the total number of websites blacked out to 1,120.

BDSwiss Ex MENA CEO Quits and Launches Multi-Asset Brokerage​

Daniel Takieddine, the former CEO for the MENA region at BDSwiss, has announced the launch of a new multi-asset brokerage startup, Sky Links Capital Group.

CME Group and CF Benchmarks to Launch New Crypto Indices​

CME Group and CF Benchmarks have announced plans to introduce two new cryptocurrency reference rates and real-time indices for XRP and Internet Computer (ICP) starting July 29.

CFTC Report Shows Retail Forex Funds in US Remained Unchanged, Total Volumes Slightly Drop 0.01% in May 2024​

The US Commodity Futures Trading Commission (CFTC) has released its latest monthly report, which shows that retail forex funds in May 2024 largely remained the same, with the total volumes of six institutions dropping only 0.01% M-o-M.

Two Months After Prospero Markets Went Belly Up: Liquidator Updates​

Two months ago, Fazzaco covered the news of an Australian Federal Court made the decision to appoint liquidators for Prospero Markets following an application by ASIC, the Aussie regulato.

Last week we received the latest update of the Prospero Markets case, a former Australia brokerage currently in the liquidation process. On July 10, 2024, the court-appointed liquidator, BRI Ferrier, released a report.