HSBC announced on Thursday that Kaber Mclean was appointed as Chief Executive Officer of the bank’s Australian office. The lender aims to expands in the region as Hong Kong operations are under pressure of anti-government riots. Mclean has been with HSBC since 1996. For more than two decades of service at the bank, he has…
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FCA announced today that HM Treasury appointed Christopher Woolard as Interim Chief Executive. Woolard is currently Executive Director of Strategy and Competition of FCA and an Executive member of the Board. His predecessor Andrew Bailey left the position to become Governor of the Bank of England. FCA Chairman Charles Randell, said: I’m looking forward to…
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The Exchange Council of the Frankfurt Stock Exchange (FSE) appointed Michael Klaus as the new Chairman in a constituent meeting yesterday. His predecessor, Michael Rüdiger, left the council. Klaus is a partner at Metzler Bank and a member of the Executive Board of Metzler Holding. Dr. Matthias Zieschang, who is a member of the Executive…
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The Australian Securities & Investments Commission (ASIC) announced yesterday the suspension of the Australian financial services (AFS) licenses of financial services providers Theta Asset Management, Valuestream Investment Management and Global Merces Funds Management. Theta Asset Management Ltd and Valuestream Investment Management Ltd’s licenses have been suspended until 21 July 2020 because two entities are under…
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The Securities and Exchange Commission (SEC) announced yesterday that two whistleblowers were awarded for providing timely and crucial information in two separate cases of fraud. Both whistleblowers assisted SEC in stopping fraudulent schemes exploiting retail investors. The first whistleblower alerted SEC of fraudulent actions and the agency awarded them with more than $277,000 for his…
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Michael Spencer, city tycoon and founder of market operator ICAP, now NEX Group, has decided to make a substantial contribution to a new UK fintech fund. Spencer plans to invest at least £25 million in the UK fund Element Ventures, through his private holding company IPGL. This is one of the largest investments made by…
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Dukascopy Bank is growing its crypto eco-system by adding new services. The bank’s clients can already fund trading accounts with Bitcoin, exchange Dukascoin, the bank’s own cryptocurrency, on the internal marketplace and trade CFDs on Bitcoin to US Dollar and Ethereum to US Dollar with leverage of up to 1:3. Dukascopy Bank was the first…
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Commodity Futures Trading Commission (CFTC) issued an order for $1 million against Propex Derivatives Pty Ltd (Propex), Australia-based proprietary trading firm, implicated in a spoofing scheme. The company was involved in unlawful trading activities on the U.S. commodities market through former trader in the period of July 2012 to March 2017. Propex agreed to pay…
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LiquidityBook reported yesterday record growth for sales and clients in 2019. LiquidityBook is a New York based fintech firm that provides Software-as-a-Service (SaaS) for buy- and sell-side trading solutions. The company attributes its record gains and accomplishments to the increasing interest of investment managers in its portfolio, order and execution management systems (POEMS) platform. The…
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Clearstream and UBS to embark on a long term partnership in investment fund services, Deutsche Börse Group announced yesterday. Clearstream is to acquire 51 per cent of Zurich-based fund distribution platform Fondcenter AG for CHF 389 million. UBS will keep the remaining 41 per cent of the shares according to a joint agreement between the…
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