July 27, 2016 BY Valentina Kirilova

State Street fined $382 million for applying hidden markups to FX trades in mutual funds

The Securities and Exchange Commission (SEC) has announced that State Street Bank and Trust Company has agreed to pay $382.4 million in a global settlement for misleading mutual funds and other custody clients by applying hidden markups to foreign currency exchange trades. As part of its custody bank line of business, State Street safeguards clients’ financial assets…

Read more
July 27, 2016 BY Valentina Kirilova

Deutsche Börse exceeds the minimum acceptance threshold

Based on the declarations of acceptance received and booked so far by the custodian banks for the exchange offer by HLDCO123 PLC, London, United Kingdom to the shareholders of Deutsche Börse AG in connection with the planned combination of Deutsche Börse AG with the London Stock Exchange Group plc, the minimum acceptance threshold of 60%…

Read more
July 27, 2016 BY Mike Fox

Barchart partners with MarketXLS to deliver real-time market data to Excel users

Today, Barchart, a leading provider of financial market data and technology, has announced a partnership with MarketXLS, a downloadable Microsoft Excel add-in that helps investors boost their productivity while researching stocks and other financial instruments. MarketXLS provides an add-in that turns Excel into a powerful investing research tool. Barchart’s partnership with MarketXLS allows its users…

Read more
July 26, 2016 BY Mike Fox

CFTC announces fourth whistleblower award for $50,000

The U.S. Commodity Futures Trading Commission (CFTC) today announced an award of approximately $50,000 to a whistleblower who voluntarily provided key original information that led to a successful CFTC enforcement action. The award is the fourth award made by the CFTC’s Whistleblower Program to a whistleblower who provided valuable information about violations of the Commodity…

Read more
July 26, 2016 BY Mike Fox

U.P.M. Ltd renounces CySEC license

The Cyprus Securities and Exchange Commission announced today that on 11th July 2016, the CIF U.P.M. Ltd, which provided investment services via the domain www.upmltd.eu, renounced its authorization pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the ‘Law’). Therefore, the authorization with Νumber 084/07…

Read more
July 26, 2016 BY Mike Fox

NextAngles launches cognitive regulatory compliance tool

Financial technology solutions provider NextAngles today announced the launch of its flagship compliance solutions for financial institutions grappling with increasing regulatory and market pressures. The solutions suite includes: Anti-Money Laundering (AML) Alert Investigation, Trade-Based Money Laundering (TBML) Alert Generation and Investigation, Know Your Customer (KYC), Financial Crimes Investigation, and Liquidity Risk Management. Developed by industry…

Read more
July 26, 2016 BY Valentina Kirilova

Northern Trust to leverage Global Collateral’s margin settlement messaging service

DTCC-Euroclear GlobalCollateral Ltd, a joint venture (JV) of Euroclear and The Depository Trust & Clearing Corporation (DTCC), has announced that financial services company Northern Trust will implement GlobalCollateral’s Settlement Messaging Service. The adoption of the service will streamline Northern Trust’s margin call process, increase transparency through automated collateral settlement tracking, enhance client service and improve…

Read more
July 26, 2016 BY Valentina Kirilova

ASIC cancels AFS licence for failing to lodge financial statements

More to come from ASIC today. The Australian regulator has cancelled the Australian financial services (AFS) licence of Sydney-based Edwards Benefits Advisors Pty Ltd (Edwards Benefits) for failing to comply with a number of key obligations as a financial services licensee. In particular, ASIC found that Edwards Benefits: • failed to lodge financial statements, auditors…

Read more