China’s SAFE and PBoC increase crackdown on foreign FX brokers LeapRate

September 20, 2018 BY LeapRate Staff

China's SAFE and PBoC increase crackdown on foreign FX brokers

LeapRate Exclusive... The People's Bank of China, effectively China's central banking authority, has posted a notice on its website providing further warnings that it is planning to take measures to shut down what it terms illegal FX brokerage activity targeting China-based Retail FX traders. The notice, which also officially comes from the Ministry of Public Security…

September 20, 2018 BY Valentina Kirilova

Clock ticking for banks on fintech disruption: Morgan Stanley

Banks need to get their IT investment priorities in order now given the rising risk of fintech disruption, according to analysts at US based investment banking giant Morgan Stanley (NYSE:MS). The clock is ticking for banks, with new entrants able to provide banking services up to 50% cheaper, in part thanks to legacy-free IT,” Morgan Stanley's…

September 20, 2018 BY Valentina Kirilova

VTFinTech deploys Parity One on OpenFin’s operating system

VTFinTech, the technology provider of portfolio management and research evaluation services, today announced that it has joined the OpenFin platform to quickly and seamlessly onboard, deploy and deliver its Parity One software at scale to financial institutions. Parity One is a platform that is used by investment firms to build and manage systematic investment strategies…

September 20, 2018 BY LeapRate Staff

MAP S.Platis wins CySEC outsourcing tender to investigate CIF violations

LeapRate has learned that Cyprus based regulatory consulting firm MAP S.Platis has successfully concluded an agreement with regulator Cyprus Securities and Exchange Commission (CySEC), for the provision of expert services in the conduct of investigations of potential violations of the pertinent legislation by Cypriot Investment Firms (CIFs). CySEC issued a public tender to outsource some of…

September 20, 2018 BY Valentina Kirilova

Cboe Europe to launch equities trading in three new markets

Cboe Europe has announced it will expand its coverage to 18 markets across Europe with the planned launch of trading in Polish, Hungarian and Czech securities beginning 5th November 2018, pending regulatory review. Cboe Europe plans to offer trading in the stocks that comprise the following indices: WIG20 Index (Poland) BUX Index (Hungary) PX Index…

September 20, 2018 BY Valentina Kirilova

Virtu completes KCG acquisition term loan repricing and prepayment

Virtu Financial, Inc. (NASDAQ:VIRT), a technology-enabled market maker and liquidity provider to the global financial markets, has announced the completion of a repricing transaction of its 1st Lien Secured Term Loan (the “Term Loan”) along with a principal prepayment of $74 million. Following the prepayment and the amendment, the total balance of the Term Loan…

September 20, 2018 BY Valentina Kirilova

FINRA warns investors of stock fraud following hurricane Florence

FINRA has issued an Investor Alert warning investors to beware of potential investment scams touting stocks and other investments promising huge financial gains in the wake of Hurricane Florence. The Investor Alert, Beware of Stock Fraud in the Wake of Hurricane Florence, explains how investors can spot and protect themselves from investment scams associated with…

September 20, 2018 BY Valentina Kirilova

SFC bans a former relationship manager of HSBC for 12 months

The Hong Kong Securities and Futures Commission (SFC) has informed the public that it has banned Mr Ngo Wing Chun, a former relationship manager of Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for 12 months from 20 September 2018 to 19 September 2019 for unauthorized transfer of customer data. The SFC…

September 20, 2018 BY Valentina Kirilova

Financial firms must join AFCA now

Australian regulator ASIC has warned all Australian financial services licensees, Australian credit licensees, authorised credit representatives and superannuation trustees that they must join the Australian Financial Complaints Authority (AFCA) now if they have not already done so. The Minister for Financial Services set a membership deadline for joining AFCA of 21 September 2018. This can…

September 20, 2018 BY Valentina Kirilova

Distilled Analytics and Shyft Network partner to combat global identity theft

David Shrier of Distilled Analytics and Joseph Weinberg of Shyft Network have announced a multi-year partnership to deliver next generation biometric identity solutions leveraging blockchain technology, artificial intelligence, and advanced analytics to combat the expanding global issue of identity verification, theft, and fraud. A predictive identity solution from Distilled Analytics, in partnership with Shyft Network’s…