Category: Financial Services

SEC
October 21, 2021 BY Steffy Bogdanova

Credit Suisse ordered to pay $475 million in charges related to Mozambican bond offerings

The SEC highlighted that this stems from Credit Suisse's deficient internal accounting controls. The failed to properly address significant and known risks concerning bribery. Gurbir S. Grewal, Director of the SEC’s Division of Enforcement said: When it comes to cross-border securities law violations, the SEC will continue to work collaboratively with overseas law enforcement and…

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CFTC
October 21, 2021 BY Steffy Bogdanova

CFTC brings charges in a $3.9 million forex and crypto fraud scheme

According to the CFTC, since September 2020, the defendants solicited through different channels, including Kikit’s website, over $3.9 million from 61 clients. The clients gave their money to the defendants to manage them in customized client portfolios for forex and crypto trading. The regulator stated that the defendants did not trade with their clients funds…

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CFTC fine
October 15, 2021 BY Steffy Bogdanova

CFTC fines UBS $500K for deleted audio files

According to the regulator, before June 2019, UBS implemented multiple software systems to comply with its recordkeeping obligations. These systems operate its trader turret communication devices and recorded and stored voice recordings of calls occurring on these trader turrets. The recording systems had a know flaw causing them to fail to synchronize certain call data.…

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Moscow Exchange
October 14, 2021 BY Steffy Bogdanova

Moscow Exchange extends the trading hours of Equity Market

Earlier this year, Moscow Exchange has been extending trading hours for market participants. Since March, MOEX’s FX, Precious Metals and Derivatives Markets opened at 7am and closed at 23:50 Moscow time. The exchange made available after-hours trading on Bond Market in September. Clients of the exchange are able to test the morning hours on their…

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CME Group
October 05, 2021 BY Alan Sayer

CME Group sees overall ADV rise 14% in Q3

In September, demand elsewhere decreased, with agriculture, equities, and metal derivatives ADV falling both in the month and the quarter. However, CME revealed that interest rate ADV helped to push its overall demand higher. September saw interest rate ADV increase 58% to 7.66 million contracts, with the Secured Overnight Financing Rate (SOFR) hitting a record…

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Moscow Exchange
October 01, 2021 BY Alan Sayer

MOEX executive board chairman re-elected

Denisov has been in the role of Chairman of the Executive Board at MOEX since May 16, 2019.  Chairman of the Moscow Exchange Supervisory Board, Oleg Viyugin, commented: In accordance with best corporate governance practices, the Supervisory Board of Moscow Exchange considered re-electing the head of the Exchange well in advance of the expiry of…

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CFTC fine
September 28, 2021 BY Steffy Bogdanova

CFTC fines Refinitiv $650K for swap reporting violations

As a result, the company failed to report certain swap creation data for hundreds of thousands of trades. The missing swap creation data included the financial entity status and the US person indicator for each counterparty. The CFTC determined that Refinitiv had to know or had reasons to suspect there were reporting omissions.  The Commission…

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