Takeprofit Technology, a provider of forex trading and risk management solutions for brokers, has just launched a new IB system called FlexRebate. The company has shared that its old Plethora plugin has not been powerful enough, which eventually led to the launching of a new one. FlexRebate is more flexible due to rule system similar to the one…
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The UK Financial Conduct Authority (FCA) has today published the interim findings of its asset management market study, which suggests that there is weak price competition in a number of areas of the asset management industry. The FCA launched the market study in November 2015 to assess whether competition is working effectively. It looked at…
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Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…
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The Securities and Exchange Commission (SEC) has filed fraud charges against four individuals and others who allegedly profited by defrauding investors in a cash-strapped California-based renewable energy company. Patrick Carter, the founder and CEO of 808 Renewable Energy Corp. was charged along with the company, chief operating officer Peter Kirkbride, sales representatives Martin Kinchloe and…
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ASIC has banned Mr James Edward McCarthy, a financial adviser from South Australia, from providing financial services until 14 November 2024. Mr McCarthy is the sole director of McCarthy Financial Solutions Pty Ltd and has been an authorised representative of AMP Financial Planning Pty Ltd from 16 December 2011 to 2 April 2015. ASIC has…
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Institutional market maker KCG Holdings, Inc. (NYSE:KCG) has announced a fairly interesting transaction, buying back the stake in KCG held by private equity firm General Atlantic, in return for KCG's stake in ETF exchange operator Bats Global Markets, Inc. (Bats:BATS). The exchange, based on current share prices for the companies involved, is worth about $280 million.…
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The U.S. Securities and Exchange Commission (SEC) has announced that JPMorgan Chase & Co. (NYSE:JPM) has agreed to pay more than $130 million to settle SEC charges that it won business from clients and corruptly influenced government officials in the Asia-Pacific region by giving jobs and internships to their relatives and friends in violation of…
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ETF exchange leader Bats Global Markets, Inc. (Bats: BATS) has named Dave Nadig as CEO of the company’s ETF.com news and analysis division. Nadig replaces current ETF.com CEO David Lichtblau who will be leaving ETF.com to pursue 'other interests'. Nadig's hire is actually a homecoming, as he rejoins the firm where he played a leadership role from 2008-2015.…
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October appears to have been a great month for U.S. housing, U.S. consumer prices, and also Single-family permits. Not so good for Underlying inflation though. U.S. housing rose to a more than nine-year high last month as builders increased construction of single as well as multifamily homes. Turns out that the housing might contribute to economic growth…
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Fiserv, Inc. (NASDAQ:FISV), a global provider of financial services technology solutions, has announced that its Board of Directors has authorized it to repurchase 15 million shares of the company's common stock, which is in addition to the shares remaining available under the company's existing authorization. Fiserv may repurchase shares in the open market or in…
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