December 06, 2024 BY Sam Boughedda

Tortoise Capital Advisors Gets Go-Ahead For 2 Strategic Fund Merger Proposals

The changes are said to be aimed at enhancing operational efficiency and boosting shareholder value, with the final implementations set for 23 December 2024. The first merger involves Tortoise Midstream Energy Fund (NTG) and Tortoise Energy Infrastructure Corp. (TYG). TYG will emerge as the surviving entity, maintaining its original strategy and becoming Tortoise's flagship closed-end…

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financial buildings
December 06, 2024 BY Sam Boughedda

Hong Kong Monetary Authority Fines China CITIC Bank HK$4M

The regulator said the penalty comes after an investigation into deficiencies in CITIC's transaction monitoring systems between November 2015 and July 2018. The HKMA found that CITIC's automated transaction monitoring system had failed to generate alerts for suspicious transactions due to errors in detection and core model rules. Additionally, they state that CITIC also failed…

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R.J. O’Brien
December 06, 2024 BY Sam Boughedda

R.J. O'Brien Appoints John Robbins to New Global Chief Compliance Officer Role

The US independent futures brokerage and clearing firm said Robbins will oversee the firm’s worldwide compliance initiatives, reflecting RJO's continued international growth. Based in New York, Robbins, who has over 25 years of compliance experience in financial services, will report to Melissa Zierk, Managing Director and General Counsel at RJO.  He will lead a global…

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December 06, 2024 BY Leaprate Staff

ATFX Demonstrates Consistent Strong Performance in Q3 2024 Data

The report reveals notable growth in several key sectors. The currency pairs category saw a 9.32% increase compared to Q2 2024, signalling strong trader interest in forex markets. The energy category also experienced growth, up 1.07%, driven by steady demand for commodities such as oil and gas. The standout performer was the indices category, which…

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FINRA
December 05, 2024 BY Sam Boughedda

FINRA Fines LifeSci Capital $900,000

The regulator said in a filing that the New York-based firm, specialising in underwriting, has also been censured and required to implement a supervisory system to address these shortcomings. The fine stems from LifeSci Capital's role as lead underwriter in the initial public offering of LifeSci Acquisition II Corp., a special purpose acquisition company (SPAC),…

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financial buildings
December 05, 2024 BY Sam Boughedda

Clear Street Gets FCA Approval, Launches in the UK

The company, which aims to modernise the brokerage ecosystem, has also been granted Category 1 Ring-dealing membership by the London Metal Exchange (LME), marking a significant milestone in its global expansion strategy. Clear Street’s ambition is to grow beyond North America into the UK, Europe, and other international markets.  According to Ed Tilly, President and…

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December 04, 2024 BY Sam Boughedda

BGC Group Appoints Mike Whitaker as Global Chief Information Officer

The company stated that Whitaker will also join the Executive Committee, marking a move to enhance technological innovation and efficiency across the organisation. In this newly created role, Whitaker will oversee the development and implementation of a unified technology strategy for BGC Group, aimed at driving initiatives to foster growth and operational excellence. Whitaker brings…

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December 04, 2024 BY Sam Boughedda

BGC Group Sells Capitalab Business to Unlock Shareholder Value

The transaction, valued at $46 million, reflects a revenue multiple of approximately 7.5 times, underscoring the strategic significance of the deal. BGC Group explained in its press release that Capitalab specialises in rates portfolio compression and margin optimisation, critical components in streamlining trading operations.  BGC will retain its post-trade foreign exchange risk reduction business, previously…

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