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…
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The crypto exchange stated that the platform provides a streamlined approach to managing crypto payments, assets, and financial workflows. Launching later this year, Coinbase Business said it aims to address longstanding inefficiencies in traditional finance by leveraging the speed and scalability of crypto. Businesses will be able to send and receive payments instantly, automate payouts,…
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Clearstream said in a press release that the collaboration aims to significantly scale Fasanara Capital's private market fund distribution by leveraging Clearstream's global network. The partnership is said to address key challenges in the private markets, known for their complexities and limited transparency. Through the partnership with Clearstream, Fasanara Capital gains access to a network…
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The new feature is said to integrate advanced generative AI directly into trading platform workflows, proactively delivering critical insights to users. Broadridge explained that BondGPT Intelligence is designed to anticipate traders' queries based on their position within the investing and trading process, providing immediate access to relevant market data and insights. This intelligent anticipation reportedly…
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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…
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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…
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This partnership aims to offer buyside firms a fully integrated, front-to-back workflow. Virtu's TradeOPS platform is designed to automate post-trade workflows, including allocation matching and settlements, with the goal of significantly reducing settlement delays and financial penalties for buyside firms. The company said that by integrating with Limina’s cloud-native Order and Portfolio Management System (O/PMS),…
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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…
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The financial terms of the deal were not disclosed. The move will see Fiserv, a provider of payments and financial services technology, take full control of one of Ireland’s largest payment solution providers and one of Europe’s major e-commerce acquirers. The transaction is expected to close in the third quarter. Katia Karpova, Head of the…
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The collaboration between Clearstream, Deutsche Börse Group’s post-trade services provider, and Azimut, a global asset and wealth manager, is said to be an extension to Clearstream’s automated fund processing platform, Vestima, with a new digital layer built on distributed ledger technology via FundsDLT. The firm explains that the pilot solution introduces an account model allowing…
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