Eric I. Bustillo, Director of the SEC's Miami Regional Office, commented: As a financial advisor, Nino was entrusted with millions of dollars belonging to his client. As alleged in our complaint, Nino took advantage of that trust by abusing his access to his client’s accounts for personal gain. The financial markets regulator explained that Nino…
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ESG rating providers can use the new available information when assessing calculating ESG scores and ratings. With the additional data pool, they can also boost the visibility of small and medium-sized companies among investors. Deutsche Börse further explained in their official announcement that companies which have not yet established their own sustainability reporting, the company…
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The third award SEC issued was $1.5 million to a whistleblower whose information shaped staff’s investigative strategy and significantly contributed to the success of the covered action. The individual provided substantial and ongoing assistance to the SEC by helping them identify issues. Creola Kelly, Chief of the SEC’s Office of the Whistleblower, said: Credible tips…
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Credit Suisse violations FINRA discovered that Credit Suisse failed to comply with the Securities and Exchange Commission’s Customer Protection Rule in two ways. First, the company is required to maintain possession or control of billions of dollars of fully paid and excess margin securities it carried for customers, which it failed to do. The second…
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The Panel also pointed out that BGC Partners’ failure appeared to be the result of unintentional operator error. It concluded that it is likely this error could have been avoided if BGC Partners had updated its systems to incorporate enhanced technological safeguards. The official statement said: Although enhanced technological safeguards may not be required where…
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He commented: From early conversations with founders Luis Otero, Steano Guarnieri and Scott Sykowski, key staff as well as core clients, it was clear to us that Athena Systems has amazing technology, world class people and in-depth technical understanding of their customers’ needs. Making Athena part of United Fintech felt like a great match from…
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So far, the agency has awarded over $1.2 billion to a total of 238 individuals since the first award was issued in 2012. Payment of the awards is taken out of an investor protection fund set up by Congress. It is financed through monetary sanctions of security law violations paid to SEC. To be eligible…
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Action for the joint venture In order to expand its banking business in the second largest economy worldwide, China, HSBC will bid for the entire 39% stake in the joint venture. The action, due to expire on 21 January, follows HSBC regulatory approval in China to take full ownership of its life insurance joint venture…
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The highlights from the fourth quarter include: Interest Rate ADV rose 56% to 9.8 million contracts. Energy ADV touched 2.3 million contracts, up by 16%. Equity Index ADV went up by 15% to 6 million contracts. Options ADV surged 58% to 3.7 million contracts. Micro Bitcoin futures ADV also reached record highs of 24,534 contracts.…
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Global FX Cboe FX spot market share was up 16.7% last year. The increase in 2021 was the fifth consecutive year of market share growth for the market operator. Cboe Global Markets highlighted: NDF trading volumes on Cboe SEF increased 4x from 2020, capped by ADNV of $725 million for fourth-quarter 2021. Equities US and…
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