Australian Regulator ASIC Issues Infringement Notices for Equity Trustees Limited LeapRate

June 19, 2025 BY Sam Boughedda

Australian Regulator ASIC Issues Infringement Notices for Equity Trustees Limited

The regulator says that between April and November 2024, the fund’s product disclosure statement, target market determination and website claimed it invested in green, sustainable and social corporate bonds. However, ASIC stated that the fund held exposure to government and supranational bonds during this period, assets inconsistent with its declared strategy focused on corporate issuers.…

June 17, 2025 BY Sam Boughedda

BNP Paribas Securities Fined $600,000 By Nasdaq Phlx

In a Letter of Acceptance, Waiver and Consent published by Nasdaq Phlx, the firm was said to have violated multiple recordkeeping and supervisory rules, including US securities law and Phlx’s own procedural standards. Specifically, the firm reportedly failed to correctly record order receipt, transmission and execution times for an estimated 139,511 manually routed options trades.…

June 13, 2025 BY Sam Boughedda

ASIC Cancels Financial Services Group Australia's AFS Licence

ASIC said FSGA had failed to ensure that two of its representatives provided financial advice appropriate to clients’ circumstances or in their best interests. The company also lacked adequate financial and human resources, failed to lodge financial statements and breach reports on time, and did not comply with licence conditions requiring its assets to exceed…

June 10, 2025 BY Sam Boughedda

Susquehanna Fined By FINRA

The findings, which Susquehanna accepted without admitting or denying, relate to violations that occurred between February 2021 and May 2023. FINRA's investigation revealed that Susquehanna failed to include the mandatory "No Remuneration" (NR) indicator in TRACE reports for transactions where no commission, mark-up, or mark-down was charged. “Susquehanna inaccurately reported transactions in TRACE-Eligible Securities without…

June 10, 2025 BY Sam Boughedda

Guilty Pleas Secured By ASIC in Telegram ‘Pump and Dump’ Action

The scheme involved artificially inflating Australian share prices before selling them at inflated values. ASIC said Larissa Quinlan, Kurt Stuart, Emma Summer, and Syed Yusuf all entered guilty pleas in the Downing Centre Local Court to conspiracy to commit market rigging and dealing with the proceeds of crime. Ms. Quinlan, Mr. Stuart, and Ms. Summer…

June 09, 2025 BY Sam Boughedda

FCA to Let Firms Experiment with AI Alongside NVIDIA

The initiative forms part of the FCA’s broader strategy to accelerate digital innovation and economic growth. It is said to give firms access to NVIDIA’s accelerated computing and AI Enterprise Software, along with enhanced datasets, technical support and regulatory guidance. “This collaboration will help those that want to test AI ideas but who lack the…

May 30, 2025 BY Sam Boughedda

Oanda Fined $600k By the National Futures Association

The New York-based retail foreign exchange dealer, which is owned by proprietary trading firm FTMO, agreed to the settlement without admitting or denying the allegations, according to a decision published by the NFA’s Business Conduct Committee (BCC) on Wednesday. The BCC found that Oanda failed to properly increase its net capital in accordance with liabilities…

FINRA's 2018 volume tops 2017 activity by 87%

May 28, 2025 BY Sam Boughedda

Public Investing Fined $350k By FINRA

According to a letter of acceptance, waiver, and consent, published by FINRA, the New York-based brokerage firm paid more than 100 influencers to promote its services on platforms like Instagram and YouTube between January 2020 and March 2023. These paid posts, which attracted over 23,000 new accounts, are said to have often included misleading or…

May 26, 2025 BY Sam Boughedda

Former Credit Suisse Vice President Banned By the FCA

Subeva is the third former Credit Suisse banker to be barred for lacking integrity in connection with a corrupt loan scandal involving the Republic of Mozambique. In May 2019, she pleaded guilty in a US court to conspiracy to commit money laundering, after accepting $200,000 in unlawful kickbacks related to loans arranged for Mozambique. The…

May 21, 2025 BY Sam Boughedda

AAG Capital Fined $100k by FINRA

The Florida-based brokerage firm was also ordered to pay $38,591.39 in restitution to affected customers and undertake corrective measures. According to FINRA, between February 2021 and the present, AAG Capital did not implement a system reasonably designed to comply with Regulation Best Interest (Reg BI) when recommending registered index-linked annuities (RILAs) to retail clients. The…

Category: Regulation