A foreign currency exchange (FX) dealer became the second person to plead guilty to conspiring to fix prices in the FX market, the Justice Department announced today. According to the one-count information filed in the U.S. District Court for the Southern District of New York, Christopher Cummins was a dealer of Central and Eastern European,…
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It was announced this week that Italy’s financial regulator (CONSOB) has established a new body called the Arbitration for Financial Disputes and disputes up to €500k can now be submitted to it, and all submitted disputes will aim to be resolved within 6 months. The new body has been established to create a fast and…
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Big data pricing technology provider qbeats has announced that its multi-patented QMV dynamic content valuation and pricing system has gone live with CME Direct, the highly-configurable trading front end for all listed CME Group Inc (NASDAQ:CME) markets. CME Group, the world's leading and most diverse derivatives exchange, will become the first full marketplace to offer…
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The U.S. Securities and Exchange Commission today announced that BNY Mellon Corp (NYSE:BK) has agreed to pay a $6.6 million penalty to settle charges stemming from miscalculations of its risk-based capital ratios and risk-weighted assets reported to investors. An SEC investigation found that BNY Mellon deviated from regulatory capital rules by excluding from its calculations…
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The U.S. Securities and Exchange Commission today announced that broker Investment Technology Group (NYSE:ITG) agreed to pay more than $24.4 million to settle charges that it violated federal securities laws when it prompted the issuance of American Depository Receipts (ADRs) without possessing the underlying foreign shares. ADRs are U.S. securities that represent shares of a…
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Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List offshore broker Bristol Financial Offshore, operating as Bristol Financial and Bristol Offshore from website bristoloffshore.com. According to the BCSC, Bristol Financial claims to be…
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Ireland-headquartered RegTech company, AQMetrics, today announced new enhancements to its end-to-end risk and compliance solution as part of its cloud-based platform. These enhancements will help both buy-side and sell-side firms better prepare for MiFID II (Markets in Financial Instruments Directive II), a year in advance of the regulatory deadline of January 2018. The recent enhancements…
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Global brokerage Saxo Bank today released their Q1 2017 Quarterly Outlook. The 22-page report includes topics including Brexit, Dollar outlook, US, EU central bank forecasts, China currency policy and more with FX forecasts for CHF, AUD, CAD, NOK, SEK and emerging markets. Check out a snippet below of the first article by Steen Jakobsen, Saxo Bank's…
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UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the firm Rhine & Associates / Rhine Associates. Rhine & Associates / Rhine Associates is not authorised by the FCA but has been targeting people in the UK…
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Following its monitoring of the MOEX USD/RUB FX Fixing, the Central Bank of Russia (CBR) has confirmed that the benchmark accurately reflects the market and meets all requirements for transparency of calculation methodology. The inspection took place in Q3 2016, and will be repeated on a regular basis. In July 2016, the CBR officially recognised…
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