Italian Regulator CONSOB Blocks 4 Financial Services Sites LeapRate

November 29, 2024 BY Sam Boughedda

Italian Regulator CONSOB Blocks 4 Financial Services Sites

The action, aimed at protecting investors from fraudulent activities, is part of CONSOB’s ongoing campaign against abusive financial intermediaries. The regulator often orders the black-out of unauthorised sites The targeted websites are: GOMARKETSLTD.net (including gomarketsltd.net and client.gomarketsltd.net) Fidus Invest (including idus-invest.com, panel.fidus-invest.com, and trade.webtrader-fx.com) First State Investments (Ireland) Limited (including fsinvest.cm, client.fsinvest.cm, and webtrader.fsinvest.cm) Financial…

November 29, 2024 BY Sam Boughedda

RPD Group Advice's Licence Cancelled By ASIC

The cancellation comes after the Australian Financial Complaints Authority (AFCA) issued a determination against RPD Group on 12 July 2024, which the company failed to honour. ASIC explained that on 13 November 2024, the CSLR compensated the affected consumer with $62,421.00 and notified ASIC, prompting the cancellation of RPD Group's licence on 21 November 2024.…

November 29, 2024 BY Sam Boughedda

ActivTrades Secures New Regulatory License in Mauritius

Brokerage ActivTrades said Thursday that it has obtained a new regulatory licence from the Financial Services Commission (FSC) in Mauritius, bolstering its capacity to serve international clients. The latest move is said to align with the firm’s ongoing expansion strategy and further enhance its position in key global markets. The Mauritius licence is the fifth…

November 28, 2024 BY Sam Boughedda

Tastytrade Fined By FINRA

The Chicago-based brokerage, a FINRA member since 2016, was also censured as part of the settlement. Between July 2021 and July 2023, FINRA said Tastytrade failed to establish and maintain a supervisory system in compliance. They added that the firm’s written supervisory procedures (WSPs) were said to have been inadequate, lacking clear processes for reviewing…

November 28, 2024 BY Sam Boughedda

UBS Picks Clearstream for Fund Distribution Support

It was explained in the Clearstream press release that through Clearstream’s Fund Centre platform, UBS aims to streamline processes, reduce costs linked to trailer fee collection, and optimise contract management. The move reflects the European fund distribution platform's growing reputation in the market, as its Fund Centre platform continues to expand Assets under Distribution (AuD)…

November 27, 2024 BY Sam Boughedda

Moomoo Financial Hit With $750,000 Fine by FINRA

The violations, which spanned several years, are said to have highlighted lapses in advertising practices, supervision, and privacy compliance. According to FINRA’s findings, retail trading platform Moomoo Financial paid social media influencers to promote its services but failed to ensure these promotions were "fair and balanced." FINRA said some influencer posts made misleading claims about…

November 27, 2024 BY Sam Boughedda

Standard Chartered Explores Sale of Some Wealth & Retail Banking Businesses in Africa.

The move is designed to free up capital for increased investment in its affluent franchise, a key growth driver for the bank. The bank announced it is exploring the potential sale of its WRB businesses in Botswana, Uganda, and Zambia. The strategic decision aligns with its broader goal of accelerating income growth and returns, as outlined…

November 27, 2024 BY Sam Boughedda

Netcapital Gets FINRA Approval for Broker-Dealer License

The company said the licence approval is set to bolster its capacity to facilitate larger capital raises and broaden its investment offerings. The newly gained licence enables NSI to specialise in private placements of securities and referral business. It is designed to assist companies raising equity capital under Regulation A (Reg A) and Regulation D…

November 26, 2024 BY Sam Boughedda

Macquarie Bank Fined £13m for Serious Control Failures

The regulator said that between June 2020 and February 2022, Travis Klein, a trader at the bank, was able to record and conceal these fraudulent trades to mask his mounting losses. Despite previous warnings about weaknesses in its systems, Macquarie Bank failed to implement effective measures to prevent such misconduct, according to the FCA. “Despite…

Broadridge’s Fi360 and ProctorU partner to launch remote proctoring and identity management solution

November 26, 2024 BY Sam Boughedda

Broadridge's LTX and TransFICC Partner to Streamline Fixed Income Trading

The company said in its press release that the collaboration aims to simplify and accelerate the onboarding process for sell-side clients, reducing operational risks and costs. They explain that by integrating LTX with TransFICC's One API for eTrading platform, dealers are able to swiftly and efficiently connect to LTX's innovative RFQ+ trading protocol, with the…

Category: Financial Services