Category: Financial Services

March 30, 2018 BY Valentina Kirilova

FCA warns against Verge Finance Private Lending firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Verge Finance Private Lending. Verge Finance Private Lending is not authorised by the FCA but has been targeting people in the UK and is also carrying…

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March 29, 2018 BY Valentina Kirilova

Intercontinental Exchange releases annual Corporate Responsibility Report

Intercontinental Exchange (NYSE:ICE), operator of global exchanges and clearing houses and provider of data and listings services, has released its annual Corporate Responsibility Report. The report is a comprehensive, 59-page overview of the company’s efforts to support the communities in which it operates, invest in its people, promote principles of good governance, and uphold its…

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March 29, 2018 BY Valentina Kirilova

FTSE Russell promotes Saudi Arabia to Emerging market status

FTSE Russell, the global index, data and analytics provider, informed that it has confirmed that Saudi Arabia will be promoted to Secondary Emerging market status following the March 2018 interim country classification review. FTSE Russell formally reviews country classifications within its FTSE Global Equity Index Series (FTSE GEIS) using a comprehensive, transparent and consistent methodology.…

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clone firm FCA warning
March 29, 2018 BY Valentina Kirilova

FCA warns against All Purpose Loans clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm All Purpose Loans. 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…

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Hong Kong SFC
March 29, 2018 BY Valentina Kirilova

Hong Kong SFC concludes consultation on online platforms

The Hong Kong Securities and Futures Commission (SFC) has released consultation conclusions on proposed Guidelines on Online Distribution and Advisory Platforms. The guidelines provide tailored guidance to the industry on the design and operation of online platforms, including specific guidance on the provision of automated or robo-advice. The guidelines also clarify that the posting of…

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SFC fines
March 29, 2018 BY Valentina Kirilova

FINRA fines Aegis Capital Corp. $550,000

It's a tough day for Aegis Capital Corp. getting fined not once, but twice - this time by the Financial Industry Regulatory Authority (FINRA). The amount was $550,000 and the reason was failing to have adequate supervisory and anti-money laundering (AML) programs tailored to detect "red flags" or suspicious activity connected to its sale of…

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CME Group completes acquisition of NEX Group
March 29, 2018 BY LeapRate Staff

CME Group buying rival markets operator NEX for £3.9 billion

After confirming that preliminary talks were indeed going on behind the scenes about two weeks ago, cross-ocean rival electronic market operators CME Group Inc (NASDAQ:CME) and London listed NEX Group PLC (LON:NXG) have announced that CME will be buying NEX in a £3.9 billion (USD $5.4 billion) cash and shares deal. The proposed transaction has been…

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March 29, 2018 BY Valentina Kirilova

CME Group acquires NEX Group plc

Derivatives marketplace CME Group (NASDAQ:CME) and NEX Group plc (LON:NXG) have just announced that they have reached an agreement in which CME Group will acquire NEX in a transaction valued at £10 per share, consisting of 500 pence in cash and 0.0444 CME Group shares (based on CME’s closing share price of US$158.84 on March…

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March 29, 2018 BY Valentina Kirilova

Aegis Capital Corporation fails to file Suspicious Activity Reports

The U.S. Securities and Exchange Commission (SEC) announced that Aegis Capital Corporation, a New York-based brokerage firm, has admitted that it failed to file Suspicious Activity Reports (SARs) on numerous suspicious transactions. Broker-dealers are required to file SARs for certain transactions suspected to involve fraudulent activity or have no business or apparent lawful purpose. The…

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warning
March 28, 2018 BY Valentina Kirilova

French AMF warns against the activities of unauthorised websites

The Autorité des Marchés Financiers (AMF) has published a list of new unauthorized websites offering atypical investments. Here is the list of new websites recently identified: https://www.investissement.strategie-business.com/ https://uniondelor.fr/ https://www.101-carats.com/ https://www.brookfield99.com/ A list of all unauthorized websites to offer atypical investments is available in the AMF’s website and Assurance Banque Épargne Info Service – ABE IS's website. These…

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