The settlement comes after an investigation into a potential wash trade in the Cocoa Futures market. According to a disciplinary notice released by ICE Futures, a StoneX employee may have placed opposing buy and sell orders for the same principal on April 27, 2023. The firm explained that the orders, which were executed in the…
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In a press release, the regulator explained that the FMIs, which include entities such as financial market operators, benchmark administrators, clearing and settlement facilities, and derivative trade repositories, play a vital role in facilitating trading in Australia's capital markets. The new laws, part of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill…
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The CFTC said it found that Nasdaq Futures, Inc. operated a "Designated Market Maker" (DMM) program that included a volume-based component that was not disclosed to the CFTC or the public. They explain that the component provided additional payments to select DMM program participants based on the total volume of contracts they traded. The CFTC…
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Joonko, a New York City artificial intelligence (AI) startup, operated an AI-driven job board to promote diverse and inclusive employee hires. Based on a June 2023 New York Post report, Raz resigned after an internal company investigation found that she had “engaged in egregious, unethical and fraudulent conduct, which caused harm to the company and…
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On 3 May 2024, Ali pled guilty to five charges of fraud amounting to $771,303 AUD, after which the Brisbane District Court imposed the sentence on 27 May 2024. He allegedly misappropriated the trading and investment funds of clients. According to ASIC, DanFX Trade ran an unlicensed foreign exchange. The financial watchdog found that between…
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According to the UK’s financial watchdog, the bank did not “properly consider” the circumstances of people when they missed debt repayments between June 2017 and October 2018. This implies that HSBC did not correctly perform “affordability assessments” when devising plans to reduce or clear arrears. Don’t miss out the latest news, subscribe to LeapRate’s newsletter…
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The details were revealed during Microsoft’s Build conference, which was held in Seattle on Tuesday. Among the highlights of the presentation was the new version of OpenAI’s GPT-4o model created by its Azure AI Studio. This new model promises to accept inputs through video and audio as well as text. Don’t miss out the latest…
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The regulator keeps a register of “banned and disqualified” individuals to inform and warn companies and employees. Individuals on this record have been either disqualified from managing a company, auditing self-managed superannuation funds, or fulfilling a financial role in an organisation. Pereira reportedly managed four companies that were liquidated. ASIC listed these as East Coast…
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These three individuals face several charges, including fraud through deceptive representations and trading, as they convinced people to invest their pension savings in CFDs. In its press statement, the FCA explained that CFDs are “a high-risk investment product used to bet on the price of an asset”. Victims of this alleged fraud reportedly said that…
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Based on CNBC data, the share prices of Pernod Ricard (RI.PA) and Remy Cointreau (RCO.PA) jumped by 2.7% and 7.6% respectively at the midday mark in London. Chinese President Xi Jinping is currently in talks with European leaders to discuss the continued trade conflict. He met with Macron on Monday, 6 May 2024, and received…
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