ForexRev: weekly summary [09/13 – 09/19/2021]
The largest Chinese developer, China Evergrande, is on the verge of bankruptcy. The total amount of awards given to SEC informants has exceeded $ 1 billion. Two Forex scammers heard a sentence 20 years after committing a crime. George Theocharides took over as head of CySEC. DAX 30 has turned into DAX 40. Enjoy a quick overview of last week:
Changes in the DAX index
The DAX 30 underwent the most significant transformation since 1988 and is now becoming the DAX 40. 10 new companies have appeared in the most important German stock market index. The modifications follow the Wirecard scandal.
The largest Chinese developer is in big trouble and is facing insolvency of USD 300 billion. The collapse of China Evergrande could threaten the stability of the Chinese financial market and even spill over into other global markets.
One billion dollars from the SEC
The US Securities and Exchange Commission (SEC) granted $114 million last week to 2 whistleblowers who helped with its investigations. Thus, the total amount of awards issued in the program exceeded $ 1 billion.
Justice after years
Two South African scammers have heard convictions for a Forex fraud committed almost 20 years ago. Brothers Peter and Louis Henderson extorted over $400,000 from 18 investors, and they are facing 15 and 12 years in prison.
The new head of CySEC
The Cyprus Securities and Exchange Commission (CySEC) has a new president, George Theocharides, associate professor of finance with extensive experience in investment markets.