Category: Financial Services

DFSA
October 30, 2017 BY Valentina Kirilova

NSG Services fined $1 million for breach of best interests duty

The Federal Court informed that it has imposed a civil penalty of $1 million against Melbourne-based financial advice firm NSG Services Pty Ltd (currently named Golden Financial Group Pty Ltd) (NSG) for breaches of the best interests duty introduced under the Future of Financial Advice (FOFA) reforms. This is the first civil penalty imposed on…

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ASIC suspends AFS license
October 27, 2017 BY Valentina Kirilova

ASIC suspends AFS license of M.J. Wren & Co

ASIC informed that it has suspended the Australian financial services (AFS) license of M.J. Wren & Co Pty Ltd (MJ Wren) until 16 October 2018. MJ Wren ceased providing financial services in May 2017 after ASIC identified that MJ Wren had failed to comply with the risk-based capital requirements set out in the market integrity…

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DFSA
October 27, 2017 BY Valentina Kirilova

Former NAB adviser fined $1,000 for forging documents

Mr Shane Thompson, of New Gisborne, Victoria, has pleaded guilty in the Melbourne Magistrates' Court to two charges that he forged and submitted financial planning documents for his own personal gain, ASIC informed earlier today. The charges, brought by ASIC, allege that between 27 December 2012 and 1 March 2013, Mr Thompson completed 22 false…

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October 27, 2017 BY Valentina Kirilova

TMX Group announces agreement with ICE to acquire Trayport and sell NGX

Canada's premier exchange group moves to accelerate growth as a global data and analytics solutions provider with planned addition of European pre-trade energy platform, and announces analyst conference call to discuss TMX Group Limited (TSX:X) today announced it has entered into an agreement to acquire London-based Trayport Holdings Limited, and its U.S.-based affiliate, Trayport Inc.…

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fca cftc regulation
October 27, 2017 BY Valentina Kirilova

FCA statement on MiFID II inducements and research

The FCA informed that it welcomes the announcements made yesterday by the European Commission and the US Securities and Exchange Commission (US SEC) in relation to the MiFID II inducements and research reforms and their interaction with US regulation. Andrew Bailey, Chief Executive Officer at the FCA, said: I am grateful for the constructive conversations…

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Deutsche Börse revenues
October 27, 2017 BY Valentina Kirilova

Deutsche Börse Group reports solid results for Q3 2017

Deutsche Börse AG published its results for the third quarter of 2017 on Thursday, indicating that: Net revenue of €576 million (+3%) Adjusted EBITDA of €333 million (+5%) Adjusted net income for the period at €198 million (+4%) Carsten Kengeter has informed earlier the Supervisory Board of Deutsche Börse AG (DBAG) that he would like…

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SEC charges nine hackers and traders in Edgar hacking case
October 27, 2017 BY Valentina Kirilova

SFC and HKMA address hacking risks associated with internet trading

The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) recognise the need for effective cybersecurity management as cyber risk poses an increasingly significant threat to the integrity, efficiency and soundness of financial markets worldwide. Over the past few years, the SFC and the HKMA have provided a range of…

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BetBuddy acquired by Playtech
October 27, 2017 BY LeapRate Staff

Playtech acquires gaming analytics solution provider BetBuddy

Online gaming and financial trading systems provider Playtech PLC (LON:PTEC) has announced the acquisition of BetBuddy, which provides gambling analytics solutions. Terms of the acquisition were not disclosed. Playtech stated that its strategy is to acquire complementary technology which extends its software and services offering to the gambling industry’s leading operators. The integration of BetBuddy’s behavioural identification…

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