Category: Financial Services

June 05, 2017 BY LeapRate Staff

SEC charges Alpine Securities Corp with AML failures and manipulative practices

The U.S. Securities and Exchange Commission today charged a Salt Lake City-based brokerage firm, Alpine Securities Corporation, with securities law violations related to its alleged practice of clearing transactions for microcap stocks that were used in manipulative schemes to harm investors. To help detect potential securities law and money laundering violations, broker-dealers are required to…

Read more
CFTC offices
June 02, 2017 BY LeapRate Staff

Former Deutsche Bank trader David Liew banned for Spoofing and Manipulation of Gold and Silver Futures markets

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against David Liew for engaging in numerous acts of spoofing, attempted manipulation, and, at times, manipulation of the gold and silver futures markets. Liew engaged in this unlawful conduct for more than two years while he was employed as a…

Read more
FINRA's 2018 volume tops 2017 activity by 87%
June 02, 2017 BY LeapRate Staff

FINRA bars Morgan Stanley rep who hid bond trades to skirt AML rules

U.S. Securities industry regulator Financial Industry Regulatory Authority (FINRA) announced today that it has barred former Morgan Stanley Smith Barney registered representative John Batista Bocchino for concealing approximately $190 million in Venezuelan bond trades from the firm, which had restricted such trading due to the regulatory, anti-money laundering and reputational risks it posed. Instead, Bocchino…

Read more
Matthew Stauffer DTCC
June 01, 2017 BY LeapRate Staff

DTCC names Clarient Global CEO Matthew Stauffer as head of Institutional Trade Processing

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Matthew Stauffer as Managing Director and head of Institutional Trade Processing, effective June 30, 2017. In this role, Mr. Stauffer will be responsible for integrating DTCC’s middle office trade processing solutions, including…

Read more
fma warning
May 31, 2017 BY Valentina Kirilova

FINMA issues warning against City Bank

Switzerland’s Financial Market Supervisory Authority (FINMA) keeps updating its Warning List, with the latest addition being City Bank. The company claims to have an address in Switzerland: Square de l'académie, 1205 Genf and is operating at www.citybank-us.com. The inclusion of City Bank in FINMA’s Warning List means that it might be operating without a licence although…

Read more
etf
May 31, 2017 BY Valentina Kirilova

New Source commodity index ETF launched on Xetra

ETF provides access to commodity basket comprising energy and industrial and precious metals A new exchange traded fund (ETF) issued by Source has been tradable on Xetra and Börse Frankfurt since Tuesday, Deutsche Börse announced. The Source Bloomberg Commodity ex-Agriculture UCITS ETF enables investors to participate in the performance of a commodity basket comprising eleven…

Read more