Category: Financial Services

September 25, 2017 BY LeapRate Staff

Bitcoin Ponzi scheme run by Gelfman Blueprint Inc uncovered by the CFTC

The U.S. Commodity Futures Trading Commission (CFTC) has announced the filing of a federal civil enforcement action in the U.S. District Court for the Southern District of New York against Defendants Nicholas Gelfman, of Brooklyn, New York, and Gelfman Blueprint, Inc. (GBI), a New York corporation, charging them with fraud, misappropriation, and issuing false account statements in connection…

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sfc bans
September 25, 2017 BY Valentina Kirilova

Hong Kong SFC bans a former account executive of Sincere Securities Limited

The Hong Kong Securities and Futures Commission (SFC) announced that has banned Mr Shum Kam Ming, a former account executive of Sincere Securities Limited (Sincere Securities), from re-entering the industry for life in connection with conducting unauthorized transactions in a client’s account. The disciplinary action follows an SFC investigation which found that between March 2014…

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Deutsche Börse
September 25, 2017 BY Valentina Kirilova

Deutsche Börse cooperates with SmartStream RDU

Regulatory Reporting Hub will use SmartStream RDU tools for reference data - Joint development with SmartStream RDU on Systematic Internaliser Register Deutsche Börse Group announced that has entered into a cooperation with The SmartStream Reference Data Utility (RDU). The European market infrastructure provider will use SmartStream RDU service for its upcoming Regulatory Reporting Hub. SmartStream…

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September 25, 2017 BY Valentina Kirilova

SIX Swiss Exchange joins xyt hub for tick data distribution and analytics

big xyt, the independent provider of high-volume, smart data and analytics capabilities, announced today that SIX Swiss Exchange has joined the xyt hub to provide high quality tick data to its trading participants, enabling them to develop, evaluate and backtest new trading and execution strategies while providing greater transparency over trading activity. Connected to more…

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SFC fines
September 25, 2017 BY LeapRate Staff

Merrill Lynch gets $2.5 million CFTC fine for failures related to a CME Group investigation

The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Merrill, Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch), a registered Futures Commission Merchant and a unit of Bank of America Corp (NYSE:BAC), for failing to supervise its employees’ and agents’ handling of the firm’s response to a CME Group…

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September 22, 2017 BY Valentina Kirilova

FCA and Hong Kong Insurance Authority sign Fintech co-operation agreement

The Financial Conduct Authority (FCA) announces today that it has entered into a co-operation agreement with the Hong Kong Insurance Authority (IA) to enhance collaboration in supporting Fintech innovation. Under the agreement, the FCA and the IA will cooperate on information sharing on innovation and referrals of innovative firms seeking to enter the counterpart's market.…

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Hong Kong SFC
September 22, 2017 BY Valentina Kirilova

Hong Kong SFC secures conviction against ETrade Securities Limited

The Eastern Magistrates’ Court today announced that has convicted ETRADE Securities (Hong Kong) Limited (ETrade HK) for actively marketing to the Hong Kong public US brokerage services provided by E*TRADE Securities LLC (ETrade US) which was not a licensee of the Securities and Futures Commission (SFC). This is the first criminal conviction secured by the…

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New BIS report cites “internalization” by large banks for 7% volume drop
September 22, 2017 BY Valentina Kirilova

OSC publishes Corporate Finance Branch 2016-2017 Annual Report

The Ontario Securities Commission (OSC) has published OSC Staff Notice 51-728 Corporate Finance Branch 2016-2017 Annual Report. The publication provides guidance to the individuals and entities the OSC oversees, and their advisors, to help them comply with regulatory obligations. This year’s report focuses on issues and trends related to Management's Discussion and Analysis (MD&A), non-GAAP…

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