Macquarie Bank Fined Record $4.995 Million By ASIC For ‘Serious’ Gatekeeper Failure LeapRate

September 25, 2024 BY Sam Boughedda

Macquarie Bank Fined Record $4.995 Million By ASIC For 'Serious' Gatekeeper Failure

ASIC revealed it found that Macquarie had breached market integrity rules on 50 occasions between January and September 2022, allowing three of its clients to place orders that displayed characteristics of an intention to "mark the close." This involves placing orders within the last minute of market close to influence the daily settlement price in…

September 24, 2024 BY Sam Boughedda

NinjaTrader Ordered to Pay Over $980,000 for Supervision Failures

The CFTC found that NinjaTrader, which operates out of Deer Park, Illinois, failed to implement sufficient policies and procedures to manage accounts in emergency situations, particularly in response to a statutory restraining order issued in a previous fraud case. It is also alleged to have not exercised sufficient oversight over its employees' handling of accounts.…

September 23, 2024 BY Sam Boughedda

PayAfrique.com's Small Payment Institution Registration Cancelled by FCA

The FCA took the action due to PayAfrique.com's failure to comply with regulatory obligations. Specifically, the regulator said the company failed to submit annual reports (Returns) for the past two years (2022 and 2023) despite its repeated requests. "The Authority has concluded, on the basis of the facts and matters described above, that by failing…

September 23, 2024 BY Sam Boughedda

Italian Regulator Blocks Access to 4 Sites that "Offer Financial Services Illegally"

The websites allegedly offered financial services without proper authorisation, posing a risk to Italian investors. CONSOB's action leverages authority granted by the "Growth Decree" (Law no. 58 of 2019), which empowers them to restrict access to websites offering unauthorised financial services within Italy. The targeted websites include FCapital24 (fcapital24.org), Multibank Group (multibankfx.com), Stocket (www.stocket.me), and…

September 23, 2024 BY Sam Boughedda

Revolut Adds Nearly 2 Million Customers in 2024

The achievement comes as the company has seen a substantial increase of nearly 2 million customers in 2024 alone, solidifying its position as one of the largest payments businesses in the market. Founded in the UK in 2015, Revolut has expanded rapidly both domestically and internationally. The company now has a global customer base of…

September 20, 2024 BY Sam Boughedda

StoneX Agrees to Pay $20,000 Settlement to ICE Futures

The settlement comes after an investigation into a potential wash trade in the Cocoa Futures market. According to a disciplinary notice released by ICE Futures, a StoneX employee may have placed opposing buy and sell orders for the same principal on April 27, 2023. The firm explained that the orders, which were executed in the…

September 20, 2024 BY Sam Boughedda

HSBC's Trial of Quantum-Secure Technology for Tokenised Physical Gold Successful

The breakthrough, according to the bank, marks a significant step in safeguarding digital assets from potential future quantum computing attacks. HSBC, which pioneered tokenised physical gold offerings for institutional and retail investors, explained that it utilised post-quantum cryptography (PQC) and Quantum Origin technology to secure its gold tokens. The technology is said to protect against…

September 19, 2024 BY Sam Boughedda

ASIC Gains New Powers Under Australian Financial Market Infrastructure Reforms

In a press release, the regulator explained that the FMIs, which include entities such as financial market operators, benchmark administrators, clearing and settlement facilities, and derivative trade repositories, play a vital role in facilitating trading in Australia's capital markets. The new laws, part of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill…

September 19, 2024 BY Sam Boughedda

Barchart and SIGMA Join Forces to Deliver AI-Powered Trading Insights

The companies said in a press release that the partnership aims to leverage the strengths of both companies and deliver cutting-edge tools and insights for traders. The partnership hinges on integrating Barchart's extensive market data across various asset classes with SIGMA's AI-driven analytics platform, with the integration expected to create a wide-ranging solution. This solution…

September 18, 2024 BY Sam Boughedda

ATFX Expands Presence in Australia with New Office and FMPS Participation

The company revealed in a press release that it has opened a new office in Sydney and participated in the Financial Markets Pacific Summit (FMPS) 2024. "ATFX Connect is strengthening its foothold in the Australian financial market, underscoring its commitment to providing cutting-edge trading solutions to institutional clients," the company said. ATFX Connect offers a…

Category: Financial Services