Search Results for: Brokers
Mainland China needs to let brokers play a bigger role in market
July 20th, 2015
While putting all shares in central clearing may be the mainland regulator’s idea of a “safe” market structure, the system creates a wide gap with the outside world and erodes the role stockbrokers can play. In Hong Kong, all ...
SEC: OZ Management LP Admits Providing Inaccurate Data, Impacting Brokers’ Records and “Blue Sheets”
July 15th, 2015
The Securities and Exchange Commission today charged OZ Management LP with providing inaccurate trade data to four prime brokers, causing inaccuracies in the brokers’ books and records and in data provided to the SEC in investigations. OZ Management, an ...
China accuses brokers of manipulating share prices during stock market crisis
July 14th, 2015
Beijing has accused brokers of manipulating share prices during China’s recent stock market plunge and launched a crackdown against unlicensed companies that financed speculative trading. The police ministry said investigators had found “evidence to suspect that individual trading companies ...
ASIC: Update on Interactive Brokers
July 3rd, 2015
ASIC today provided an update on its regulation of US-based online brokerage firm Interactive Brokers LLC (IB). Enforceable undertaking (EU) IB has refunded $1.5 million in fees and commission payments to its retail margin lending customers in accordance with ...
FINRA Sends Rebates to Brokers after Record Profits
July 2nd, 2015
While commissions growth has been fairly stagnant over the last few years, Wall Street brokers’ efforts to cut costs have yielded record profits. And now they are getting a refund of sorts. The Financial Industry Regulatory Authory (FINRA), the ...
Interactive Brokers Group Reports Brokerage Metrics for June 2015
July 2nd, 2015
Interactive Brokers announced Electronic Brokerage Metrics performance for June 2015 that includes Reg.-NMS Execution Statistics Highlights for the month included: 600 thousand Daily Average Revenue Trades (DARTs), 21% higher than prior year and 3% lower than prior month. Ending ...
Barclays brokers sniff at Stifel, jump to Merrill
July 1st, 2015
BofA has added 15 ex-Barclays advisers in the past month and recently picked up a $750 million team in Texas Fifteen advisers, including most recently a team in Texas managing $750 million in assets, have fled Barclays Plc U.S. ...
Australia Regulator Blocks Interactive Brokers’ Currency Trading
June 25th, 2015
Australia’s securities regulator told Interactive Brokers Group Inc. to stop offering over-the-counter currency trading, saying the company doesn’t have the right license to operate in the nation. The Australian Securities & Investments Commission is also assessing whether the U.S. ...
SEC Charges Unregistered Brokers in EB-5 Immigrant Investor Program
June 24th, 2015
The Securities and Exchange Commission today charged two firms that illegally brokered more than $79 million of investments by foreigners seeking U.S. residency. The charges are the first against brokers handling investments in the government’s EB-5 Immigrant Investor Program ...
Libor Brokers Called Hayes Berating ‘Very Upsetting’ in Messages
June 17th, 2015
Thomas Hayes, the former UBS Group AG and Citigroup Inc., trader accused of rigging Libor, berated brokers and colleagues when things didn’t go his way, according to messages shown to jurors by prosecutors. Hayes communicated daily with interdealer brokers, ...
