The Financial Conduct Authority (FCA) has just announced that it has fined Tesco Personal Finance plc (Tesco Bank) £16,400,000 for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cyber attack. The cyber attack took place in November 2016. Cyber attackers exploited deficiencies in Tesco Bank’s design…
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Based on the order book statistics, Boerse Stuttgart generated turnover of around EUR 4.9 billion in September 2018. Securitised derivatives made up the largest share of the turnover. The trading volume in this asset class was more than EUR 2.3 billion. Leverage products generated over EUR 1.4 billion. Thereof around 437 million was attributable to…
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The trading volumes on the cash markets of Deutsche Börse amounted to €1.29 trillion at the end of the third quarter, an increase of 20% compared to the same period last year. In 2017, turnover on the trading venues Xetra, Börse Frankfurt and Tradegate Exchange stood at €1.08 trillion at the end of September. On…
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All managed discretionary account (MDA) providers must now have an Australian financial services (AFS) license, with an MDA-specific ‘dealing by issue’ licence authorisation, Australian regulator ASIC announced earlier today. From today, MDA providers who do not have the required AFS license authorisations must cease providing MDAs until they have obtained those authorisations. An MDA is…
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The Commodity Futures Trading Commission (CFTC) has announced that it has charged interdealer broker TFS-ICAP LLC and TFS-ICAP Ltd. (TFS-ICAP) with fraud and supervision failures. In a Complaint filed in the U.S. District Court for the Southern District of New York, the CFTC alleges that, from approximately 2008 through 2015, brokers at TFS-ICAP offices in…
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The Securities and Exchange Commission (SEC) has announced that Credit Suisse Securities (USA) LLC has agreed to settle charges brought by the SEC and the Office of the New York Attorney General regarding material misrepresentations and omissions made in connection with its now-closed Retail Execution Services (RES) business’ handling of certain customer orders. The settlements…
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The Securities and Exchange Commission (SEC) has announced that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla, Inc. (NASDAQ:TSLA), has agreed to settle the securities fraud charge brought by the SEC against him last week. The SEC has also charged Tesla with failing to have required disclosure controls and procedures relating to Musk’s tweets,…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Northern Trust. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…
Read moreThe Securities and Exchange Commission (SEC) has charged Brazilian oil-and-gas company Petróleo Brasileiro S.A. with misleading U.S. investors by filing false financial statements that concealed a massive bribery and bid-rigging scheme at the company. The U.S. Department of Justice also announced today a non-prosecution agreement with Petrobras. The SEC’s order finds that senior Petrobras executives…
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The Cyprus Securities and Exchange Commission (CySEC) has just informed the public that it has reached a settlement with CIF AFX Capital Markets Ltd. The settlement is for the amount of €50.000. The Company has paid the amount of €50.000. The complete text of the regulator’s decision can be seen below: Announcement date: 28.09.2018 Board decision date:…
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