ASIC informed that it has updated its guidance on conflicted remuneration to more closely reflect a range of regulatory changes since the guide was issued in 2013. The updated Regulatory Guide 246 Conflicted and other banned remuneration (RG 246), previously titled Conflicted remuneration) now includes guidance on the operation of the incoming life insurance remuneration…
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CGanga is the new think tank formed under the aegis of NMCG and one of its stated objectives is to make India a world leader in river and water science. The Centre is headquartered at IIT Kanpur and represents all the leading science and technological institutes of the country. In addition, it is responsible for…
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Rob Gruppetta, Head of the Financial Crime Department at the UK financial regulator Financial Conduct Authority (FCA) has made a speech yesterday regarding artificial intelligence keeping criminal funds out of the financial system. The speech was delivered to the FinTech Innovation in AML and Digital ID regional event, London, and included highlights such as: Criminals…
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LeapRate Exclusive... LeapRate has learned that leading CFD broker Plus500 Ltd (LON:PLUS) has decided to halt its Revshare payments with affiliates in its 500Affiliates.com program ahead of MiFID II regulations, moving instead to an all-CPA (cost-per-acquisition) model. While most affiliates of FCA and CySEC licensed Plus500 have been working with the CPA model to date,…
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At the Association for Financial Markets in Europe (AFME)’s Board meeting and EGM held in Brussels on 6 December, Michael Cole-Fontayn was appointed as Independent Chairman with effect from 1 January 2018. Michael Cole-Fontayn is retiring from BNY Mellon (NYSE: BK) this month after a 35-year career with the company, most recently as Executive Vice…
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ASX today announced its intention to replace CHESS using distributed ledger technology (DLT) developed by its technology partner Digital Asset (DA). CHESS (Clearing House Electronic Subregister System) is the system used by ASX to record shareholdings and manage the clearing and settlement of equity transactions in Australia. It was world-leading when introduced in the 1990s,…
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With less than 30 days to go before the upcoming MiFID II legislation comes into force on 3 January 2018, latest research has found that a shocking 39% of UK financial organisations are unaware whether their organisation is compliant or not. A quarter confirmed that they are not yet compliant with recording technology and 29%…
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One of the more interesting traditions in the forex world as we head toward the holiday season and year-end is Saxo Bank’s annual “Outrageous Predictions”. Not meant to be a real look into the crystal ball but rather food for thought, Saxo Bank takes a look at some wacky but still plausible scenarios for traders…
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Derivatives marketplace CME Group (NASDAQ:CME) today declared its annual variable dividend, amounting to $3.50 per share. The dividend is payable January 15, 2018, to shareholders of record on December 28, 2017. When CME Group adopted its annual variable dividend structure in February 2012, the intention was to determine the excess cash available at the end…
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Susan Swart, the International Monetary Fund’s (IMF) Chief Information Officer and Director of its Information Technology Department (ITD), has decided to leave the Fund in early 2018 for personal reasons. Ms. Swart joined the IMF in June 2012, following a distinguished career at the U.S. State Department. Susan brought with her the expertise and international…
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