ASIC has permanently banned Ms Linda Rae Whelan from providing financial services or engaging in credit activity after she was sentenced to imprisonment for fraud and stealing charges brought by the Queensland Director of Public Prosecutions. The charges stemmed from conduct that occurred between 31 October 2013 and 20 June 2014. During this period, Ms…
Read more
Deutsche Börse AG has published its results for the third quarter of 2016 on Thursday. Consolidated net revenue rose by 1%, to €558.5 million (Q3/2015: €555.0 million), despite the weaker market environment. Thanks to structural efficiency measures, adjusted operating costs declined by 5% in the period under review, to €275.7 million (Q3/2015: €290.6 million). Adjusted…
Read more
The Australian Securities and Investments Commission (ASIC) has released Report 499 Financial advice: Fees for no service. The report provides an update on ASIC's work to address financial institutions' and advisers' systemic failures, over a number of years, to provide ongoing advice services to customers who paid fees to receive those services. The report summarises ASIC's…
Read more
Shortly after reporting a 57% rise in FX Futures ADV MoM in September, international derivatives marketplace CME Group Inc. (NASDAQ: CME) has reported revenue of $842 million and operating income of $525 million for the third quarter of 2016. Net income was $473 million and diluted earnings per share were $1.39. On an adjusted basis, net…
Read more
The European Securities and Markets Authority (ESMA) has issued a set of Questions and Answers (Q&As) regarding the implementation of the Market Abuse Regulation (MAR). ESMA is required to play an active role in building a common supervisory culture by promoting common supervisory approaches and practices. In this regard, the Authority develops Q&As as and…
Read more
The Autorité des Marchés Financiers (AMF) and the Association Française de la Gestion Financière (the French Asset Management Association - AFG) have produced a report on the outcome of the FROG working group’s and on the implementation of its actions to raise the profile and broaden the distribution of French funds abroad. The FROG group,…
Read more
The Eastern Magistrates’ Court has convicted Gold Root Global Investments Limited (GRG Investments) of dealing in futures contracts through its website between March and April 2013 without a licence from the Securities and Futures Commission (SFC). GRG Investments pleaded guilty and was fined $10,000 and ordered to pay the SFC’s investigation costs. Dealing in futures contracts…
Read more
Copenhagen-based Multi Asset broker Saxo Bank has just reported its September volumes and it has made quite a rise from August's lowest level in 2016. In fact, by all means, this has been Saxo Bank’s best volumes month in 2016 and most active one since January 2015 when volumes topped $300 billion in part due to the…
Read more
German banking giant Deutsche Bank AG (NYSE:DB) has just announced its quarterly report. Here are some of the highlights: Revenues slightly up EUR 7.5 billion vs. EUR 7.3 billion in 3Q2015, despite a tough interest rate environment Noninterest expenses lower EUR 6.5 billion vs. EUR 13.2 billion in 3Q2015, which included significant impairments and litigation…
Read more
The Administrative Appeals Tribunal (AAT) has affirmed ASIC’s decision to refuse an application from Clemente Group Holdings Pty Ltd seeking an Australian Financial Services (AFS) licence to provide various financial services, including to make a market in derivatives. In her decision, the AAT’s Senior Member J F Toohey said: In my assessment of the evidence,…
Read more