The move comes after compensation was paid to consumers under the Compensation Scheme of Last Resort (CSLR). ASIC said Calaite Capital failed to comply with two determinations issued by the Australian Financial Complaints Authority (AFCA) on 8 July and 31 October 2024. The firm did not pay the required compensation, prompting the CSLR to step…
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The penalty was issued under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. It follows Cointree’s voluntary disclosure that it had not submitted SMRs within the required timeframes. AUSTRAC CEO Brendan Thomas said, “SMRs provide AUSTRAC and our law enforcement partners with information about suspected misuse of the financial system and this information goes on…
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The exchange went live with 2-year and 5-year Treasury futures contracts on Sunday, 18 May, at 9:00 p.m. ET, for trade date Monday, 19 May 2025. The launch builds on FMX’s introduction of SOFR futures in September 2024, which the firm believes will further broaden the platform’s appeal to global institutional clients. According to BGC,…
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The enhancements, jointly announced by the Securities and Futures Commission (SFC), the Hong Kong Monetary Authority (HKMA) and the People’s Bank of China last week on Thursday, are expected to allow investors to better manage interest rate risk linked to their renminbi (RMB) holdings. HKEX said its clearing subsidiary, OTC Clear, will work with the…
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Under the terms of the deal, announced in February 2024, Discover shareholders received 1.0192 Capital One shares for each Discover share, representing a 26.6% premium. “This deal brings together two innovative, mission-driven companies that together are poised to deliver breakthrough products and experiences,” said Capital One CEO Richard Fairbank. “We are well-positioned to continue our…
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The models that consistently deliver results So, let’s talk about the six partnership models that are performing best. Direct acquisition marketing: These IBs mainly focus on onboarding and guiding new traders. Educators: Coaches and course creators who help referred clients become better traders. Expert Advisor (EA) providers: Some partners offer algorithmic trading services or trading…
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Scarf announced the move in a LinkedIn post, stating, “I’m happy to share that I’m starting a new position as Chief Executive Officer at Plus500 Australia!” Though Plus500 has yet to formally confirm the appointment, reports state Scarf is expected to replace Sean Murphy, who led the Australian unit for the past 10 years. Scarf…
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The new products are being offered via eToro’s French subsidiary, eToro Patrimoine, and mark a step in the platform’s expansion into long-term savings. The announcement comes as shares of the stock brokerage platform surged in their Nasdaq debut on Wednesday, after it raised around $310 million in an initial public offering. The PER and life…
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The regulator alleged "repeated and systemic misleading conduct" over more than 14 years relating to short sale reporting. Filed in the New South Wales Supreme Court, the case marks ASIC’s first enforcement action involving short sale reporting. The regulator claims MSAL misreported at least 73 million short sales between December 2009 and February 2024, potentially…
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According to the firm, the solid performance was driven by increased settlement activity, fixed income issuance, and higher equity valuations amid market volatility. It also helped offset a 10% decline in interest and banking income, which fell to €255 million due to a lower interest rate environment. Increased cash balances partly cushioned the impact. Operating…
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