IG Group Holdings plc (LSE:IGG) has withdrawn as a local derivatives provider in South Africa, surrendering its ODP licence amid high costs and strict rules, while simultaneously reshaping its Japan arm by appointing Qu Zhao as Head of Japan and adapting products and operations to comply with local regulations.
Previous Week Recap
- IG Group Exits South Africa: IG Group (IGG) exited South Africa, surrendering its ODP licence due to high operating costs and strict regulations, ending its local derivatives provider operations.
- IG Group Names Qu Zhao Japan Head: IG Group named Qu Zhao Head of Japan. Zhao joins from moomoo Securities Japan; previously led at Tinder and BIGO. IG Japan has adjusted products and operations for local rules.
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