FINRA fines LPL $2.75 million for complaint-reporting and AML program failures LeapRate

October 31, 2018 BY Valentina Kirilova

FINRA fines LPL $2.75 million for complaint-reporting and AML program failures

FINRA has announced that it has fined LPL Financial, LLC $2.75 million for complaint-reporting and AML program failures that spanned a period of more than three years. FINRA found that LPL failed to file or amend registered representatives’ Forms U4 or U5 to disclose dozens of reportable customer complaints. LPL too narrowly interpreted the requirement…

October 31, 2018 BY LeapRate Staff

ESMA admits: more retail CFD traders lost money after leverage cap

European financial regulatory body ESMA has come out with more details on its decision to extend its CFD leverage cap for a second three month period. The new ESMA rules governing leveraged CFD and Forex trading came into effect on August 1, with ESMA announcing at the end of September that it would renew the…

October 31, 2018 BY Valentina Kirilova

Hedge fund Tremblant Capital implements LiquidityBook LBX Buy Side order platform

LiquidityBook, a Software-as-a-Service (SaaS)-based provider of buy-and sell-side trading solutions, has just announced that Tremblant Capital, a global asset management firm, has selected the SaaS-based LBX Buy Side as its full POEMS (portfolio, order and execution management system), with the integrated LBX Connect as its FIX routing network. LBX Buy Side replaced an existing system…

CME Group completes acquisition of NEX Group

October 31, 2018 BY Valentina Kirilova

CME Group receives CMA clearance for proposed NEX acquisition

Derivatives marketplace CME Group (NASDAQ:CME) and NEX Group (LON:NXG) have announced they have received clearance from the UK Competition and Markets Authority for CME Group's proposed acquisition of NEX. Completion of the transaction remains subject to sanction by the UK Court. The parties have scheduled the court hearing for November 1, 2018 and expect the closing to…

Torstone Technology expands its London headquarters

October 31, 2018 BY LeapRate Staff

CFDs broker Capital.com expands to the UK with FCA license

Recently-launched Cyprus based Retail FX and CFDs broker Capital.com has announced that it has secured a license for UK subsidiary Capital Com (UK) Limited from the FCA. We have learned via regulatory filings that Capital.com's shareholders injected an additional £679,000 of capital into the UK company at the beginning of this month, to satisfy the…

First Republic Bank joins S&P 500 index, replaces Scana Corporation

October 31, 2018 BY Valentina Kirilova

MSCI launches a new index series

MSCI Inc. (NYSE: MSCI), a provider of research-based indexes and analytics, has announced today that the MSCI Global Investable Market Indexes will continue to reflect the complete investable equity universe for international institutional investors. Hence, equity securities with unequal voting structures will continue to be eligible for inclusion in the MSCI Global Investable Market Indexes…

Spanish Stock Market BME Bolsa de Madrid

October 31, 2018 BY Valentina Kirilova

BME reports net profit of €101.5 million to September, down 13% YoY

The Spanish Stock Market Bolsa de Madrid (BME) has reported a net profit of 101.5 million euros for the first nine months of the year and of 30.2 million euros in the third quarter, representing respective year-on-year decreases of 12.7% and 16.2%. The result is 12.7% lower year-on-year Net profit in the third quarter came…

October 31, 2018 BY Valentina Kirilova

SGX welcomes MeGroup Ltd. to Catalist

Singapore Exchange (SGX) has just welcomed MeGroup Ltd. to its Catalist under the stock code “SJY”. MeGroup Ltd. manufactures noise, vibration and harshness (“NVH”) components and other non-NVH components primarily for the automotive industry in Malaysia. It is an approved supplier of Malaysian manufacturers of the Honda, Perodua, Mazda and Proton brands of automobiles. It…

LeapRate interview: Defense against toxic flow, Jeff Wilkins speaks

October 31, 2018 BY Valentina Kirilova

Ontario Securities Commission offers new resource for respondents

The Ontario Securities Commission (OSC) has published “Frequently Asked Questions About Proceedings” on its website. This information is intended to assist respondents, including self-represented parties as well as others involved in proceedings before the Ontario Securities Commission tribunal by answering frequently asked questions and providing a general overview of procedures that can be expected in…

October 31, 2018 BY Valentina Kirilova

Former Gold Coast financial advisor jailed

Former financial adviser and accountant, Satvir Singh Birk, of Reedy Creek, was today sentenced in the Southport District Court to two and a half years imprisonment, following an ASIC investigation. On 25 May 2018, Mr Birk, aged 42, pleaded guilty to five counts of dishonestly using his position as director of The Carter Group with…