ASIC reports on how large financial advice firms have dealt with poor advisers LeapRate

March 17, 2017 BY Valentina Kirilova

ASIC reports on how large financial advice firms have dealt with poor advisers

ASIC has today released the findings of its review of how Australia's largest financial advice firms have dealt with past poor advice and non-compliant advisers, including how these firms have dealt with affected customers. The review—which forms part of ASIC’s broader Wealth Management Project—was focussed on the conduct of the financial advice arms of AMP,…

March 16, 2017 BY Valentina Kirilova

Singapore fintech startup Invictus turns to IBM for blockhain support

IBM (NYSE: IBM) today announced Singapore fintech start-up, INVICTUS, is collaborating with them to leverage IBM Cloud and Blockchain technologies for their Order, Logistic & Payment (OLP) platform. The platform aims to help businesses reduce wastage, redundancy and cash-flow issues in their transaction processes by disrupting the supply chain management cycle with blockchain smart contract…

March 16, 2017 BY Valentina Kirilova

Baymarkets appoints Per Andersson as head of sales and business development

Baymarkets Technology AB, a Nordic provider of FinTech and RegTech solutions to the global financial services industry, announced today the appointment of Per Andersson as Head of Sales and Business Development. His arrival brings 20 years of experience of building and managing businesses in the FinTech sector and he joins Baymarkets’ management team with immediate…

March 16, 2017 BY LeapRate Staff

FXCM (oops, Global Brokerage) shares plummet another 15% to new all time low

While the rest of the equity market was soaring in the wake of the Fed's Wednesday rate hike, shares of Global Brokerage Inc (NASDAQ:GLBR) - recently renamed from FXCM Inc - dropped another 15% to close at $1.75 per share, its lowest closing price ever. Global Brokerage Inc owns 50.1% of the operating company FXCM Group…

March 16, 2017 BY Valentina Kirilova

BoE: Bank Rate held at 0.25%, Corporate Bond Purchases at up to £10bn

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 15 March 2017, the Committee voted by a majority of 8-1 to maintain Bank Rate at 0.25%. The Committee voted unanimously to…

March 16, 2017 BY Valentina Kirilova

Clearstream February report: TARGET2-Securities success needs to be followed up by full market integration

Enormous amounts of data are inserted into and have to be processed by the European Central Bank’s securities settlement platform TARGET2-Securities (T2S) day by day. This however does not mean that T2S has already achieved its ultimate goal, Clearstream reported. The technical integration of the European settlement systems can only be a first step,” says…

March 16, 2017 BY Valentina Kirilova

EEX launches Swiss Day Futures with first trades

The European Energy Exchange (EEX) successfully extended its product offering on the power derivatives market by launching Swiss Power Base Day and Weekend Futures on Wednesday. On the first day of trading a total of 5,400 MWh was traded in Swiss Base Day Futures. The first transaction in the Day Futures contract with a volume…

March 16, 2017 BY Valentina Kirilova

SFC reprimands and fines DBS Vickers (Hong Kong) Limited $2 million

The Securities and Futures Commission (SFC) has reprimanded DBS Vickers (Hong Kong) Limited (DBSVHK) and fined it $2 million for regulatory breaches and internal control failings relating to under-segregation of client money. The disciplinary action follows an SFC investigation into three self-reports by DBSVHK about possible non-compliance with the Securities and Futures (Client Money) Rules…

March 16, 2017 BY LeapRate Staff

Is Leverage Evil?

The following article was written by Jens Chrzanowski, Regional German Director at FCA regulated broker Admiral Markets UK. Hello, If you’re an avid reader of LeapRate and other trading portal articles on a daily-basis (like me), you may have noticed that every week seems to bring news of yet another national regulator intent on introducing…

March 16, 2017 BY LeapRate Staff

Will MiFID II regulations impact U.S. asset managers?

The following guest post is courtesy of Ivy Schmerken, Editorial Director at FlexTrade. North American broker-dealers and asset managers domiciled in the U.S. are watching their European counterparts gear up for compliance with MiFID II. But will MiFID II affect U.S. broker-dealers and asset managers based in the U.S.? Could the massive regulation that requires…