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The Russian Central Bank obliterates the Russian broker industry before the holidays

#1
The Russian Central Bank announced that it is revoking the licenses of most of the Forex brokers operating on Russian soil - Alpari, TeleTrade, TrustForex, and Forex Club – due to violations of Russian law.

The Russian financial mega-regulator has backed its decision with detailed information on each company’s incompliances. The most common among them are failure to comply with CRB’s instructions, providing false accounting data or false information on its website, detected flaws in the risk management system and other violations of the Forex dealer license requirements.

Alpari, TeleTrade, TrustForex, and Forex Club are now given a one-month term to cease all operations and return deposits to their clients.


Re: The Russian Central Bank obliterates the Russian broker industry before the holidays

#2
mlawson71 wrote:
Tue Jan 01, 2019 1:19 am
The Russian Central Bank announced that it is revoking the licenses of most of the Forex brokers operating on Russian soil - Alpari, TeleTrade, TrustForex, and Forex Club – due to violations of Russian law.

The Russian financial mega-regulator has backed its decision with detailed information on each company’s incompliances. The most common among them are failure to comply with CRB’s instructions, providing false accounting data or false information on its website, detected flaws in the risk management system and other violations of the Forex dealer license requirements.

Alpari, TeleTrade, TrustForex, and Forex Club are now given a one-month term to cease all operations and return deposits to their clients.
Shit. Even Alpari? Wow
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