Hong Kong SFC concludes consultation on online platforms LeapRate

March 29, 2018 BY Valentina Kirilova

Hong Kong SFC concludes consultation on online platforms

The Hong Kong Securities and Futures Commission (SFC) has released consultation conclusions on proposed Guidelines on Online Distribution and Advisory Platforms. The guidelines provide tailored guidance to the industry on the design and operation of online platforms, including specific guidance on the provision of automated or robo-advice. The guidelines also clarify that the posting of…

March 29, 2018 BY Valentina Kirilova

FINRA fines Aegis Capital Corp. $550,000

It's a tough day for Aegis Capital Corp. getting fined not once, but twice - this time by the Financial Industry Regulatory Authority (FINRA). The amount was $550,000 and the reason was failing to have adequate supervisory and anti-money laundering (AML) programs tailored to detect "red flags" or suspicious activity connected to its sale of…

CME Group completes acquisition of NEX Group

March 29, 2018 BY LeapRate Staff

CME Group buying rival markets operator NEX for £3.9 billion

After confirming that preliminary talks were indeed going on behind the scenes about two weeks ago, cross-ocean rival electronic market operators CME Group Inc (NASDAQ:CME) and London listed NEX Group PLC (LON:NXG) have announced that CME will be buying NEX in a £3.9 billion (USD $5.4 billion) cash and shares deal. The proposed transaction has been…

March 29, 2018 BY Valentina Kirilova

CME Group acquires NEX Group plc

Derivatives marketplace CME Group (NASDAQ:CME) and NEX Group plc (LON:NXG) have just announced that they have reached an agreement in which CME Group will acquire NEX in a transaction valued at £10 per share, consisting of 500 pence in cash and 0.0444 CME Group shares (based on CME’s closing share price of US$158.84 on March…

March 29, 2018 BY Valentina Kirilova

Aegis Capital Corporation fails to file Suspicious Activity Reports

The U.S. Securities and Exchange Commission (SEC) announced that Aegis Capital Corporation, a New York-based brokerage firm, has admitted that it failed to file Suspicious Activity Reports (SARs) on numerous suspicious transactions. Broker-dealers are required to file SARs for certain transactions suspected to involve fraudulent activity or have no business or apparent lawful purpose. The…

March 28, 2018 BY Valentina Kirilova

French AMF warns against the activities of unauthorised websites

The Autorité des Marchés Financiers (AMF) has published a list of new unauthorized websites offering atypical investments. Here is the list of new websites recently identified: https://www.investissement.strategie-business.com/ https://uniondelor.fr/ https://www.101-carats.com/ https://www.brookfield99.com/ A list of all unauthorized websites to offer atypical investments is available in the AMF’s website and Assurance Banque Épargne Info Service – ABE IS's website. These…

March 28, 2018 BY Valentina Kirilova

FCA warns against Olsson Capital firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Olsson Capital. Olsson Capital is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…

Cboe ETF Marketplace Cboe Global Markets Inc. (Nasdaq: CBOE)

March 28, 2018 BY Valentina Kirilova

Cboe Vest launches its first Dividend Aristocrats ETF

Cboe Vest Financial LLC (Cboe Vest), a majority-owned asset management subsidiary of Cboe Global Markets, Inc., has informed that it has launched the Cboe Vest S&P 500® Dividend Aristocrats Target Income ETF (KNG), its first ETF. KNG is index-based and seeks to track the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series (Symbol:…

March 28, 2018 BY Valentina Kirilova

Maxwell Technologies charged in fraudulent scheme to inflate financial results

The Securities and Exchange Commission (SEC) has informed the public that it has charged a California-based energy storage and power delivery product manufacturer and one of its former sales executives in a fraudulent revenue recognition scheme designed to inflate the company’s reported financial results. According to the SEC’s order, Maxwell Technologies, Inc. prematurely recognized revenue…

STOXX Low Carbon products licensed to Italian bank IMI

March 28, 2018 BY Valentina Kirilova

STOXX rolls out a new offering for high-speed solutions

STOXX Ltd., the operator of Deutsche Börse Group’s index business and a global provider of innovative and tradable index concepts, has announced that it is rolling out a new multi-dimensional offering for high-speed solutions. Firstly, it is opening up its established index calculation service to the wider market to address growing demand. Secondly, it is…

Category: Financial Services