The Securities and Exchange Commission (SEC) announced fraud charges and an asset freeze against Miami Beach-based asset management company Onix Capital LLC and owner Alberto Chang-Rajii, a Chilean national who fled the U.S. earlier this year. The SEC alleges that Chang and Onix Capital defrauded investors in promissory notes that “guaranteed” annual returns of 12% to…
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The Financial Conduct Authority has published a Decision Notice in respect of Alistair Burns, Chief Executive at TailorMade Independent Limited (TMI). Mr Burns has referred this Decision Notice to the Upper Tribunal (the Tribunal) where he and the FCA will each present their case. The Decision Notice, which reflects the FCA’s view of what occurred…
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Continuing the parade of healthy currency trading figures for the month of November at leading institutional eFX platforms, multibank FX aggregation service FXSpotStream has reported that volumes on its system were up 30% MoM to $22.3 billion average daily volume in November. November also saw a record daily volume high of $49 billion for FXSpotStream…
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The U.S. Securities and Exchange Commission (SEC) has announced that investment management firm Pacific Investment Management Company (PIMCO) agreed to retain an independent compliance consultant and pay nearly $20 million (including a penalty of more than $18 million) to settle charges that it misled investors about the performance of one its first actively managed exchange-traded…
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Trading is heating up in oil as reported earlier from ICE, who also hit a new daily volume record led by crude futures, due to OPEC cuts. Likewise, yesterday CME Group (NASDAQ: CME), hit a record high in single-day Energy complex volume with 4,510,408 combined futures and options contracts traded on November 30, 2016, breaking…
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Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listing services, today announced that ICE Brent Crude futures achieved a daily volume record of 1,963,147 contracts on November 30, 2016. The catalyst for the big jump in volume and rise in oil prices yesterday was due in…
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CFD broker Plus500 Ltd (LON:PLUS) issued a statement on Thursday, after its shares fell by nearly 18% during the day's trading session on the London Stock Exchange. LeapRate spoke with several London City traders, who indicated that speculation was that Plus500 and other retail forex brokers with Cyprus ties could be hurt by Cypriot regulator…
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The possibility of providing redemption gates, which is currently offered to funds of alternative funds, professional investment funds and real-estate collective investment undertakings, has been extended by a provision of the “Sapin II” bill. It is now up to the Autorité des marchés financiers (AMF) to determine the cases and conditions under which asset management…
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The European Securities and Markets Authority (ESMA) has today launched its new database, the European Ratings Platform (ERP), to provide access to free, up-to-date information on credit ratings and rating outlooks on its website. The ERP is an important element of ESMA’s work, following the financial crisis, to increase transparency around credit ratings and help…
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Bats Global Markets, Inc.(Bats: BATS) has just welcomed PowerShares as a new issuer to the Bats ETF Marketplace with the launch of two factor-based funds. The PowerShares S&P International Developed High Dividend Low Volatility Portfolio (Bats: IDHD) seeks investment results that generally correspond to the price and yield of the S&P EPAC Ex-Korea Low Volatility…
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