Category: Financial Services

FINRA building
January 09, 2025 BY Sam Boughedda

Fidelity Brokerage Services Hit with $600,000 Fine

The fine comes as the regulator said the company failed to adequately supervise its employees' access to client data and the transmittal of funds from international stock plan services (SPS) accounts.  The violations, spanning from December 2012 to October 2020, resulted in an associated person converting approximately $750,000 from 37 international plan participants. FINRA's investigation…

Read more
January 08, 2025 BY Sam Boughedda

Sky Links Capital Announces Strategic Partnership with Centroid Solutions

The collaboration aims to enhance trading experiences for clients and improve liquidity distribution across financial markets. Centroid is a fintech provider known for its advanced technology and infrastructure in capital markets. Sky Links said that by integrating Centroid's technology, it plans to offer clients enhanced trading capabilities, real-time analytics, and superior decision-making tools. "The move…

Read more
January 08, 2025 BY Sam Boughedda

Saxo Bank Fined €1.6 Million by AFM

The violations occurred between January 2021 and April 2023. They reportedly involved inadequate asset segregation, poor risk management, and unsatisfactory customer treatment during BinckBank's migration to Saxo Bank. The AFM investigation was prompted by consumer complaints and a critical assurance report from BinckBank's accountant. Customers reported delayed transactions, incorrect charges, and missing shares. The AFM…

Read more
Acuity Trading
January 08, 2025 BY Sam Boughedda

Acuity Trading Announces Launch of Fully Automated AI-Powered Trading Signals

The new feature, integrated into Acuity's AnalysisIQ product, offers traders both expert human-led multi-asset signals and automated signals driven by advanced AI, specifically targeting the FX and cryptocurrency markets. The product was developed by Acuity Analytics.  The AI-powered signals leverage Natural Language Processing (NLP) and sentiment analysis to help boost traditional technical analysis, according to…

Read more
Eurex ESG
January 07, 2025 BY Sam Boughedda

Eurex Dividend Options Gain CFTC Approval for US Trading

The exchange said that effective 6 January (Monday), US investors can now trade EURO STOXX 50 Index Dividend Options and EURO STOXX Banks Index Dividend Options.  The move is expected to expand US investors' ability to manage exposure to European equity markets. Robbert Booij, CEO of Eurex Frankfurt AG, commented, “Removing access barriers and making…

Read more
Broadridge’s Fi360 and ProctorU partner to launch remote proctoring and identity management solution
January 06, 2025 BY Sam Boughedda

Pemberton Capital Advisors Adopts Broadridge Tech For Portfolio Management

Broadridge announced the move byPemberton on Monday, saying the technology will help the company enhance operational efficiency and support the expansion of its private debt and collateralized loan obligation (CLO) businesses. Furthermore, Pemberton's move to scale its operations is in response to growing market demand. "Broadridge's private credit portfolio management solution infrastructure was selected to…

Read more
January 03, 2025 BY Sam Boughedda

S&P Dow Jones Indices Updates S&P Composite 1500 Market Cap Guidelines

The changes, effective immediately, reflect adjustments to ensure alignment with current market conditions and apply to the S&P 500, S&P MidCap 400, and S&P SmallCap 600. The new guidelines raise the minimum unadjusted market capitalisation thresholds. For the S&P 500, companies must now have a market cap of at least $20.5 billion, up from $18…

Read more
FINRA building
January 03, 2025 BY Sam Boughedda

BofA Fined £250,000 by FINRA

The fine stems from lapses identified between February 2018 and June 2023. BofA Securities reportedly failed to meet the requirements of the Trade Reporting and Compliance Engine (TRACE) on several counts. According to FINRA, the firm failed to report approximately 5,200 transactions in TRACE-eligible securities in a timely manner. This included late reporting of agency…

Read more
financial buildings
January 02, 2025 BY Sam Boughedda

Tern Makes Investment in Sure Ventures

The investment firm said the transaction represents approximately 2.7% of Sure Ventures' equity following the completion of a £275,000 fundraising by the venture capital fund. Sure Ventures focuses on early-stage software companies in Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and IoT sectors. Listed on the London Stock Exchange's Specialist Fund Segment, it…

Read more
December 31, 2024 BY Sam Boughedda

UBS Financial Services Fined $1.1m by FINRA for Rule Violations

The violations are said to have involved more than 330 million trade confirmations issued between February 2014 and November 2024, which contained misleading or incomplete disclosures regarding average trade prices. FINRA found that UBS either incorrectly indicated that a trade price "may" be an average price when it was not or failed to disclose that…

Read more