Category: Financial Services

Hong Kong SFC
September 22, 2017 BY Valentina Kirilova

Hong Kong SFC secures conviction against ETrade Securities Limited

The Eastern Magistrates’ Court today announced that has convicted ETRADE Securities (Hong Kong) Limited (ETrade HK) for actively marketing to the Hong Kong public US brokerage services provided by E*TRADE Securities LLC (ETrade US) which was not a licensee of the Securities and Futures Commission (SFC). This is the first criminal conviction secured by the…

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New BIS report cites “internalization” by large banks for 7% volume drop
September 22, 2017 BY Valentina Kirilova

OSC publishes Corporate Finance Branch 2016-2017 Annual Report

The Ontario Securities Commission (OSC) has published OSC Staff Notice 51-728 Corporate Finance Branch 2016-2017 Annual Report. The publication provides guidance to the individuals and entities the OSC oversees, and their advisors, to help them comply with regulatory obligations. This year’s report focuses on issues and trends related to Management's Discussion and Analysis (MD&A), non-GAAP…

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September 22, 2017 BY Valentina Kirilova

Nasdaq Stockholm fines the Marketing Group PLC SEK 595,546

The Disciplinary Committee of Nasdaq Stockholm has found that The Marketing Group PLC has breached the regulations of Nasdaq First North (“the Rule Book”) in several respects and, accordingly, has imposed a fine on The Marketing Group amounting to two annual fees, corresponding to an amount of SEK 595,546. The Disciplinary Committee finds that The…

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September 21, 2017 BY Mariela Naydenova

Y Combinator Uses Blockchain To Help People Invest in Startups

The startup incubator who helped numerous Silicon Valley giants is now helping people invest in new businesses via the use of blockchain. According to Brad Jones from Futurism, Y Combinator is now searching for ways to expand its investment access and opportunities. The president of Y Combinator, Sam Altman, said that the process needs to…

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NYSE
September 21, 2017 BY Valentina Kirilova

BEST Inc. lists on the New York Stock Exchange

The American Depository Shares of BEST Inc., a Chinese supply chain technology firm, began trading today on the New York Stock Exchange (NYSE) under the ticker symbol “BSTI”. The company raised $450 million in gross proceeds and is the largest U.S. IPO of a Chinese firm year-to-date. GTS is the NYSE Designated Market Maker (DMM)…

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September 21, 2017 BY Valentina Kirilova

Financial Regulators of Japan and Abu Dhabi Global Market cooperate on FinTech

The Financial Services Agency of Japan (FSA) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) today announced the completion of a framework for co-operation to promote innovation in financial services in Japan and ADGM. This Co-operation Framework recognises the global nature of innovation in financial services. It will enable FSA…

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SEC charges nine hackers and traders in Edgar hacking case
September 21, 2017 BY Valentina Kirilova

SEC being hacked despite warnings on security

EDGAR system data may have been used for “illicit gain through trading” SEC Chairman Jay Clayton has issued a statement highlighting the importance of cybersecurity to the agency and market participants, and detailing the agency’s approach to cybersecurity as an organization and as a regulatory body. The statement is part of an ongoing assessment of…

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