It was revealed that the OSE has imposed a 60 million yen fine on Nomura for Japanese government bond futures transactions conducted in March 2021. Additionally, the exchange has suspended Nomura's proprietary trading of government bond futures and options from December 25 to 27, 2024. Meanwhile, the Tokyo Stock Exchange has issued a reprimand to…
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ASIC argues the bank did not have adequate controls in place to prevent or detect unauthorised payments and failed to investigate scam reports within the specified timeframes required. HSBC customers are said to have lost approximately $23 million due to unauthorised transactions between January 2020 and August 2024, with $16 million occurring in just six…
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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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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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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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The regulator said the bank failed to prevent misconduct by its relationship managers (RMs) during 24 over-the-counter (OTC) bond transactions between November 2018 and September 2019. The penalty follows a review of pricing and disclosure practices in Singapore's private banking sector. The misconduct is said to have involved RMs making inaccurate or incomplete disclosures to…
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The action, aimed at protecting investors from fraudulent activities, is part of CONSOB’s ongoing campaign against abusive financial intermediaries. The regulator often orders the black-out of unauthorised sites The targeted websites are: GOMARKETSLTD.net (including gomarketsltd.net and client.gomarketsltd.net) Fidus Invest (including idus-invest.com, panel.fidus-invest.com, and trade.webtrader-fx.com) First State Investments (Ireland) Limited (including fsinvest.cm, client.fsinvest.cm, and webtrader.fsinvest.cm) Financial…
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The cancellation comes after the Australian Financial Complaints Authority (AFCA) issued a determination against RPD Group on 12 July 2024, which the company failed to honour. ASIC explained that on 13 November 2024, the CSLR compensated the affected consumer with $62,421.00 and notified ASIC, prompting the cancellation of RPD Group's licence on 21 November 2024.…
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Brokerage ActivTrades said Thursday that it has obtained a new regulatory licence from the Financial Services Commission (FSC) in Mauritius, bolstering its capacity to serve international clients. The latest move is said to align with the firm’s ongoing expansion strategy and further enhance its position in key global markets. The Mauritius licence is the fifth…
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The Chicago-based brokerage, a FINRA member since 2016, was also censured as part of the settlement. Between July 2021 and July 2023, FINRA said Tastytrade failed to establish and maintain a supervisory system in compliance. They added that the firm’s written supervisory procedures (WSPs) were said to have been inadequate, lacking clear processes for reviewing…
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