Daily news

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    Sporting Group has announced that Paul Turner is to step down as head of the spread betting company’s Sporting Index business.

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    Online trading platform FxPro has cancelled an initial public offering (IPO) amid plans by the UK’s Financial Conduct Authority (FCA) to introduce new measures within the spread-betting sector.

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    Paysafe Group has denied allegations from Spotlight Research that it is enabling illegal gambling and capital control evasion in China.

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    Online spread betting and CFD brokerage Capital Index has moved to address concerns over the impact that the UK’s decision to vote to leave the European Union (EU) will have on business.

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    GLIO Holdings is to acquire a majority stake in online trading services provider London Capital Group (LCG).

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    Spread betting company Sporting Index has promoted marketing director Paul Turner to the newly-created role of head of the business.

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    Plus500 has announced a series of major management and directorate changes, including the appointment of Elad Evan-Chen as its new chief financial officer.

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    The UK Financial Conduct Authority (FCA) regulatory body has warned spread betting companies that they must comply with its rules after a survey revealed poor practices that risk leaving customers unfairly treated.

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    IG Group has appointed Mark Ward, a senior partner at financial services firm Deloitte, as interim chief financial officer.

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    IG Group has announced that Peter Hetherington, who has been serving as chief executive on an interim basis, has been appointed to the role on a full-time basis.

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    Playtech has opted to pull out of its proposed merger with Plus500, despite last week stating that it was confident of completing a deal by the end of the year.

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    Playtech has said it remains confident that its proposed acquisition of Plus500 will go ahead before the end of the year, with the firm expecting a decision on its application to the Financial Conduct Authority (FCA) to be made next month.

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    Spread betting company IG Group has confirmed that Chris Hill is to step down from his role as chief financial officer this week after first announcing his departure in the summer.

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    Playtech has moved to update the market on the progress of its acquisitions of both Plus 500 and Ava Trade.

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    Playtech has announced that almost all of its shareholder base has voted in favour of its previously announced acquisition of Plus500.

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    Chris Hill is to step down from his role as chief financial officer at spread betting company IG Group in order to take up a similar position with financial services firm Hargreaves Lansdown.

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    Financial spread betting company IG Group has revealed that it was able to make “good progress” on a number of its strategic initiatives during the 12 months to May 31, 2015, but has also confirmed Tim Howkins will resign as chief executive later this year.

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    Gaming software and services supplier Playtech’s proposed takeover of Plus500 could be under threat after the Israeli spread betting firm’s largest shareholder said it would oppose the bid.

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    Gaming software and services supplier Playtech has struck a deal to acquire the entire issued ordinary share capital of Plus500 in a deal that values the Israeli spread betting company at approximately £459.6 million (€641.5 million/$702 million).

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    Magnus Hedman, owner of sports betting risk management firm Touchbet, has been revealed as the new majority shareholder of online gaming operator Pinnacle Sports.

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