Further to the announcement by London Stock Exchange Group plc (LON:LSE) that LSEG and LCH Group Limited are exploring the sale of LCH SA, LCH Group’s French-regulated operating subsidiary, in order to enable LSEG to address proactively anti-trust concerns raised by the European Commission in relation to certain businesses, LSEG and LCH Group announce that they…
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LeapRate Exclusive Interview… LeapRate reported exclusively last month that trading platform provider TradeSmarter has spun off a new RegTech company called Backpack. Based in Singapore, Backpack (www.backpack.io) provides turnkey back office solutions for brokers. Since posting, we've had a lot of queries from LeapRate readers about RegTech, and why it is becoming an important issue…
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Following the announcement dated 29th September 2016, the Cyprus Securities and Exchange Commission (CySEC), after a decision at the meeting dated 28th November 2016, announced that the authorisation of the Cyprus Investment Firm Best Choice FBC Ltd will continue to be suspended. The company’s CIF authorisation will remain suspended until CySEC decides whether to withdraw…
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A number of new records were set in Hong Kong's derivatives markets in 2016, according to market statistics from 1 January to 15 December 2016 published on Hong Kong Exchanges and Clearing Limited's (HKEX) website today. Total futures trading reached 80,950,484 contracts, up 10% on the full-year record high of 73,462,212 contracts in 2015. Trading of…
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Mr James Meaden, of Invermay in Victoria, has appeared at the Magistrates Court of Victoria at Ballarat, charged with a director's duty offence under the Corporations Act, ASIC announced earlier today. Mr Meaden, a former sole director of Brimarco Pty Ltd operated a designing, engineering and manufacturing business that specialised in purpose built and production…
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Italy’s financial markets regulator National Commission for Companies and the Stock Exchange (CONSOB) has issued a public warning against new forex brokers. CONSOB has: -suspended for a period of 90 days, under the terms of art. 99, paragraph 1, letter b), of the Consolidated Law on Finance - CLF, Service Merchant Corp. from its activities…
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Payments services company Paysafe Group plc (LON:PAYS) today announced that it intends to commence an inaugural share buyback programme of up to £100 million. The Paysafe buyback comes to counteract a large drop in Paysafe's share price, following a negative report issued by short seller Spotlight Research on the company's connection to illegal gaming out…
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It looks like Fidelity Investments isn't waiting for the big bounceback in shares of UK online brokers, following the $2 billion+ market cap hit taken by publicly traded brokers in the wake of the FCA's recent tightening of rules around CFD brokerage and trading. It was indicated in a recent regulatory filing that the US investment…
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Mr George Nassar, of Revesby, NSW, has been disqualified by ASIC from managing companies for the maximum period of five years arising from his involvement in eighteen failed companies. ASIC found that Mr Nassar failed to ensure that proper financial records were kept, failed to assist the liquidators of the eighteen companies after the companies…
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8 Securities, an Asia-Pacific robo-advisor with licensed offices in Hong Kong and Tokyo, launched its investing app 'Chloe' on Google Play and the Apple Store today. The service is free for accounts under HK $8,888 (USD $1,145). Back in May, LeapRate reported on the launch of 8 Securities, and their commission-free investment accounts. How does the app 'Chloe'…
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