June 23, 2016 BY LeapRate Staff

Bad day for Merrill Lynch - assessed $430 million in fines for misusing customer cash and misleading investors

Investment giant Merrill Lynch, a unit Bank of America Corp (NYSE:BAC), has been assessed a total of $430 million in fines by the U.S. Securities and Exchange Commission and The Financial Industry Regulatory Authority (FINRA). The fines relate to a misuse of client funds by Merrill Lynch, as well as misleading investors in the sale of structured…

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June 23, 2016 BY LeapRate Staff

Toyota Financial Services joins R3 distributed ledger consortium

Toyota Financial Services, the U.S. finance and insurance arm of global auto giant Toyota Motor Corp (ADR) (NYSE:TM), has announced that it has joined financial innovation firm R3’s consortium to design and apply distributed and shared ledger-inspired technologies to global financial markets. Toyota Financial Services, which is the first automotive financial services provider to join…

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June 23, 2016 BY LeapRate Staff

Online Fintech services provider MyBucks completes €15.5 million IPO on Frankfurt Stock Exchange

Luxembourg-based Fintech services company MyBucks S.A., which operates the GetBucks, GetSure and GetBanked brands and provides financial products and services to the low and middle-income consumer segment, predominantly in emerging markets of SubSaharan Africa, has successfully raised €15.5 million in an IPO on the Deutsche Bourse's Frankfurt Stock Exchange. Hauck & Aufhäuser Privatbankiers KGaA acted as Sole Global…

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June 22, 2016 BY Mike Fox

Florida fraudster gets jail time and ordered to pay $2.7 million for commodity pool fraud

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Paul G. Byron of the U.S. District Court for the Middle District of Florida (Orlando Division) entered a Default Final Judgment Order against Defendants Dante S. Giovannetti and his companies Emini Experts, LLC(Emini) and Capital Trading Concepts LLC (Capital Trading) for defrauding clients in…

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June 22, 2016 BY LeapRate Staff

Alpari FX volumes drop 3% in May to $89 billion

Russia-based retail forex broker Alpari has announced that its FX trading volumes in May declined slightly from April, coming in at $89 billion. However May did see growth in volumes of currency pairs GBPUSD (+ 8%) and EURJPY (+ 19%), each of which saw a lot of volatility ahead of this month's Brexit vote. However overall volumes…

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June 22, 2016 BY LeapRate Staff

Broadridge hires Edings Thibault from MSCI as Head of Investor Relations

Financial technology provider Broadridge Financial Solutions, Inc. (NYSE:BR) has announced that it has appointed Edings Thibault as Vice President and Head of Investor Relations. Mr. Thibault joins Broadridge from MSCI Inc (NYSE:MSCI), a provider of financial data and technology services, where he was also Head of Investor Relations and, most recently, Global Head of Business Intelligence.…

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