This concern emerged following an FCA survey involving 42 investment platforms, which revealed that a majority retain a portion of the interest accrued on customer cash balances. The FCA's findings indicate that 71% of these platforms keep some of the interest, with retention rates ranging from 10% to 100%, averaging around 50%. Additionally, 61% of…
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The last update occurred in 2014. Essentially, the document states that the two agencies will continue to cooperate in pursuit of their goal to holistically serve the Australian government and protect and promote confidence in the country’s financial system. Setting out a framework for continued cooperation, the refreshed MoU strives to facilitate liaison, assistance, and…
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In a Tuesday report, the bank confirmed profit losses as it announced renewed cost-cutting initiatives. Barclays did not rule out job cuts as part of this drive to boost its profits. Regarding the company’s Q3 performance, the Group’s chief executive officer (CEO), CS Venkatakrishnan, said: We delivered an 11.0% RoTE in Q3, against a mixed…
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In Melbourne, an Esso spokesperson suggested that following the uptick in good environmental news, its retired oil platforms would be removed — including the long steel support structures or ‘jackets’ — from the ocean. In doing so, Esso (owned by ExxonMobil) acknowledged scientific studies that disprove the creation of artificial reefs made from fuel waste.…
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Essentially, this would entail a restriction on the sale of Nvidia AI chips and only allow those with socially responsible agendas to acquire them. In a Financial Times interview, Suleyman said companies should agree to minimum global standards in line with the pledge of AI leaders to the White House. This pledge refers to the…
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This caution emphasises that the FCA has not authorised or registered the listed entities and, in conducting business with or through them, customers may be at financial risk. On its website, the FCA reminds businesses and consumers alike that operating without this regulatory body’s consent is unlawful in the UK. The organisation also draws attention…
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Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, said: The size of today’s award – the highest in our program’s history – not only incentivizes whistleblowers to come forward with accurate information about potential securities law violations, but also reflects the tremendous success of our whistleblower program. This success directly benefits investors, as…
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As per the court order, Scholz is barred from hosting online groups for which he charged membership fee and in which messages are exchanged by members about share trades without an Australian Financial Services Licence (AFS). He is also prohibited from carrying on a financial services business in the country. ASIC filed a suit against…
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Creola Kelly, Acting Chief of the SEC’s Office of the Whistleblower said: The whistleblower here made persistent efforts to bring the conduct to the attention of the SEC, another agency, and the company and is credited with the results of the company’s internal investigation. Payment of the awards is taken out of an investor protection…
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Creola Kelly, Acting Chief of the SEC’s Office of the Whistleblower said: Whistleblowers may lead to the success of an enforcement matter by providing information that causes an investigation or examination to open or that meaningfully advances an existing investigation. Payment of the awards is taken out of an investor protection fund set up by…
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