Firstmac Fined $8 Million for Breaching Design and Distribution Obligations LeapRate

January 24, 2025 BY Sam Boughedda

Firstmac Fined $8 Million for Breaching Design and Distribution Obligations

It marks the Australian Securities and Investments Commission’s (ASIC) first civil penalty action against a distributor for DDO breaches. ASIC explained in a press release that the case centred on Firstmac’s marketing of its High Livez investment product, a registered managed investment scheme, to 780 existing term deposit holders between October 2021 and September 2022. …

January 24, 2025 BY Sam Boughedda

Acuity Trading Partners with cTrader

The collaboration brings Acuity’s suite of innovative tools directly to cTrader users, delivering features such as the AI-powered Research Terminal, NewsIQ, and AssetIQ, alongside Economic and Corporate Calendars. The tools are aimed at providing traders with market insights, curated trade ideas, and asset-by-asset analysis. They will all fully be embedded into cTrader's Plugins functionality. “This…

January 23, 2025 BY Sam Boughedda

TMX Group Launches New ATS Venue AlphaX US

It marks the Toronto-based company’s markets division's first venture outside Canada, as it aims to expand its reach in global markets. AlphaX US is designed for trading Regulation NMS common stocks, exchange-traded funds, and American depositary receipts. Open to FINRA-registered broker-dealers, the platform is said to provide a range of innovative features aimed at improving…

January 23, 2025 BY Sam Boughedda

Monzo Leans Towards US For Market Listing - The Times

According to a report by The Times this week, the fintech's board is divided, with CEO TS Anil said to be favouring the US for its initial public offering (IPO), while other directors advocate for a UK listing. The decision comes amid growing speculation about a possible IPO following Monzo's strong financial performance last year.…

January 22, 2025 BY Sam Boughedda

UBS Financial Services Fined By FINRA for Inaccuracies in Transaction Information

The settlement, revealed in a Letter of Acceptance, Waiver, and Consent (AWC), arises from issues in UBS FSI’s reporting of “blue sheets” between December 2012 and September 2018. Blue sheets contain critical transaction details used by regulators to investigate potential market misconduct, including insider trading and market manipulation. FINRA said UBS FSI misreported or omitted…

January 22, 2025 BY Sam Boughedda

NYSE IPO Index Launched by Intercontinental Exchange

The firm said in a press release that NYSEIPO is a new equal-weighted index designed to track the performance of companies recently listed on the New York Stock Exchange (NYSE). This includes companies that have undergone IPOs, direct listings, spin-offs, and uplistings from OTC or international markets over the past three years. Lynn Martin, President…

LME proposes requirements for the responsible sourcing of metal in listed brands

January 21, 2025 BY Sam Boughedda

Hong Kong Approved as Warehouse Location By London Metal Exchange

The decision means Hong Kong is the 33rd location in the LME’s network, which stretches across the USA, Europe, and Asia. Matthew Chamberlain, LME CEO, stated, “The addition of Hong Kong to our global warehousing network is an exciting development, providing warehouse facilities closer to the metals hubs of Mainland China than ever before. “Mainland…

January 21, 2025 BY Sam Boughedda

Standard Chartered Announces Launch of SC PrismFX

The firm said in a press release that the solutions suite is designed to cater to the diverse FX needs of Financial Institutions (FI), Non-Banking Financial Institutions (NBFI), PayTech, and Corporate clients globally. SC PrismFX is said to integrate Standard Chartered’s digital Transaction Banking, Financial Markets, and Digital Platforms under one brand, providing FX payment…

January 21, 2025 BY Sam Boughedda

Deutsche Bank and Yonyou Sign Strategic MOU

The firm will partner with the goal of enhancing digital financial solutions for Chinese enterprises expanding globally. The partnership is expected to focus on Global Treasury Management (GTM) to streamline financial management and support globalisation strategies. Furthermore, it will integrate Yonyou’s treasury management system with Deutsche Bank’s financial network, enabling data access and instruction transmission.…

January 20, 2025 BY Sam Boughedda

ASIC: Buy Now Pay Later Providers Must Apply For a Credit Licence

The Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024, which received royal assent on 10 December 2024, extends the National Credit Code to BNPL contracts. ASIC explained that from 10 June 2025, BNPL providers will need to hold a credit licence authorising them to engage in credit activities as credit…

Category: Financial Services