Running the report, Sky News Business indicated that Railsr, the trading name of Embedded Finance, will soon announce that it made a deal with investors to raise £19.8m. The money mainly comes from existing investors, including well-knowns such as D Squared Capital and Moneta Venture Capital. Those rooting for the success of the company regard…
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This action follows incidents going back to 2017, when, according to the FCA, the company’s parent, Equifax Inc. (EFX), was subject to one of the largest cybersecurity breaches in history. The findings showed that hackers accessed the personal data of approximately 13.8 million people in the UK during this breach. Don’t miss out the latest…
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The company will pay a staggering $19m for its ESG misstatements and another $6m for the anti-mutual fund violation. After investigation, the SEC found that DWS issued deceptive statements about how it employs ESG factors when doing research and making recommendations. In view of the charges, the company did not follow sound policies and procedures…
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The company operates forex and contracts for differences (CFDs) broker BDSwiss and holds a Cyprus Investment Firm (CIF) license granted by CySEC. The regulator detailed that in 2021, BDSwiss allowed offshore companies associated with it to promote its CIF status, enticing clients with investment services in CFDs without the requiring customers to pay an initial…
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On 2,011 instances, this Openmarkets client executed bid-and-ask orders simultaneously for the same security at the same price. The ASIC stated that the broker should possess a suitable system to detect the possibility of these orders being placed with the intention of manipulating trading prices or creating a deceptive impression of active trading. Curiously, the…
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FINRA stated: The firm’s late and inaccurate TRACE reports violated FINRA Rules 6730 and 2010. In addition, the company failed to provide notifications for approximately 190 new issue offerings in TRACE-reportable securities. Moreover, Credit Suisse's supervisory system, designed to ensure the accuracy and timeliness of TRACE reporting, was found to be unreasonable by the self-regulatory…
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The regulator said: The Company did not apply adequate and appropriate policies, controls, and procedures, so as to mitigate and manage the risks of money laundering and terrorist financing effectively, in relation to the detailed examination of each transaction which by its nature may be considered to be particularly vulnerable to be associated with money…
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Additionally, the regulator accused HSBC’s subsidiary of attempting to manipulate on-screen prices, which were partly based on issuer swaps, by engaging in spoofing activities with interdealer brokerages that controlled the screens. Spoofing involves placing orders with the intention of canceling them before execution, constituting fraudulent behavior. According to the CFTC, HSBC traders deliberately traded at…
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According to CFTC’s filling, Goldman made transactions of dozens of “same-day” equity index swaps with US-based clients in 2015 and 2016. The "same-day" equity index swap involves striking the equity leg on the day that the other key terms of the swap are agreed upon, instead of the following day, which is the usual practice.…
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ESMA found S&P Global Ratings Europe Limited guilty of three contraventions, which included internal control and transparency breaches. The financial market supervisor fined S&P €825,000, €210,000, and €75,000 for each of the violations, respectively. The credit agency can challenge the decision before the Board of Appeal of the European Supervisory Authorities. S&P Global Ratings is…
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