Category: Financial Services

ESMA ceases renewal of product intervention CFDs measures
December 20, 2017 BY Valentina Kirilova

ESMA issues statement on LEI implementation under MIFID II

The European Securities and Markets Authority (ESMA) has issued today a statement to support the smooth implementation of Legal Entity Identifiers (LEI) requirements under the Markets in Financial Instruments Regulation (MiFIR). MiFIR obliges EU investment firms to identify their clients that are legal persons with LEIs for the purpose of MiFID II transaction reporting. Trading…

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December 20, 2017 BY Valentina Kirilova

SIX Exchange Regulation reprimands Bellevue Group AG

SIX Exchange Regulation announced that it has reprimanded Bellevue Group AG for several errors in its 2016 annual financial statements. Bellevue Group AG is sanctioned for the incorrect recognition of the foreign currency translation, the inadequate liquidity risk disclosures as well as the insufficient fair value disclosures with regard to a liability from a contingent…

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Silvergate Bank, a pioneer for crypto and fintech, closes successful IPO
December 20, 2017 BY LeapRate Staff

Wall Street stockbroker Brian Hirsch charged in $1 million IPO kickback scheme

The U.S. Securities and Exchange Commission (SEC) has charged a Wall Street stockbroker with illegally accepting more than $1 million in undisclosed kickbacks for giving certain customers preferential access to lucrative IPOs, enabling them to reap major trading profits in the secondary markets. The SEC alleges that Brian Hirsch subverted allocation policies and procedures at…

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Marex Spectron launches Marex Financial Products structured note business
December 19, 2017 BY LeapRate Staff

Marex Spectron gets FCA green light to operate an OTF under MiFID II

Global commodities broker Marex Spectron has announced that it has received approval on its application from the UK's Financial Conduct Authority (FCA) to operate an Organised Trading Facility (OTF) under MIFID II from January 3, 2018. MiFID II introduces a new category of trading venue called OTFs. An OTF is a multilateral system that is not…

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NZX Carbon Fund (CO2)
December 19, 2017 BY Valentina Kirilova

NZX to extend dairy derivatives trading hours

New Zealand Stock Exchange (NZX) announced that it will extend the trading hours of its dairy derivatives market in July 2018, subject to regulatory approval. This extension supports the New Zealand exchange’s strategy to improve global access to its dairy derivatives market in response to customer demand. The trading session will move the existing market…

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fca fine
December 19, 2017 BY Valentina Kirilova

FINRA fines Merrill Lynch $1.4 million for supervisory deficiencies

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Incorporated $1.4 million for failing to establish a reasonable supervisory system and procedures to identify and evaluate extended settlement transactions, and for related rule violations. Extended settlement transactions have a longer time between trade and settlement than…

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cnmv spain forex regulation
December 19, 2017 BY Valentina Kirilova

CNMV approves the new circular on the website disclosure obligations of investment firms

The National Securities Market Commission (CNMV) announced that it has approved a new Circular on the disclosure obligations of investment firms (IFs) regarding corporate governance and remuneration policy through their websites. The new Circular defines the obligations of IFs in terms of disclosure through their websites in relation to corporate governance and remuneration established in…

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December 19, 2017 BY Valentina Kirilova

France AMF warns retail traders to avoid FX trading education site iMarketsLive.com

The French regulator AMF (Autorité des marchés financiers) warned against the activities of the company International Markets Live LTD (IMarketsLive), which offers investors, more specifically targeting very young people, including high school students, subscriptions to various training courses and software solutions designed to help investors to trade on the foreign exchange (Forex) market. The company…

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