Search Results for: Commonwealth Bank
Finra arbitration panel orders UBS to pay for damages over Puerto Rico bond losses
March 28th, 2016
Damages linked to the commonwealth’s distressed debt continue to climb UBS Group AG’s wealth management business for the Americas must pay more than $470,000 to three investors who claimed damages because their accounts were over-concentrated in Puerto Rico bonds ...
Independent broker-dealers facing a number of looming regulatory changes
January 25th, 2016
Coming 12 to 24 months could divide the industry into winners and losers — firms that will be able to adapt, and those that might fall by the wayside Independent broker-dealers are facing a number of regulatory changes over ...
CommSec: Investors are increasingly looking abroad to overseas stock exchanges
November 16th, 2015
Investors are increasingly looking abroad to overseas stock exchanges to broaden their investment portfolio, according to new data from CommSec. CommSec, Australia’s largest online broker, has seen a sharp increase in demand for foreign owned shares. The number of ...
Fidelity Brokerage Services accused of allowing unregistered advisers to make trades through its broker-dealer platform
October 27th, 2015
Fidelity charged by Massachusetts with dishonest and unethical behavior Fidelity Brokerage Services was charged in an administrative complaint Monday with dishonest and unethical behavior by the commonwealth of Massachusetts for allowing unregistered investment advisers to make trades through the ...
UBS Unit to Pay More Than $2.9 Million to Investors in Puerto Rico
September 2nd, 2015
Bank’s wealth-management unit ordered to pay two investors for losses tied to island’s municipal bonds UBS AG’s wealth-management unit was ordered to pay more than $2.9 million to two investors in Puerto Rico for losses tied to funds holding ...
Share trading accounts at some Australia’s largest brokers have been hacked
August 5th, 2015
Russian hackers have been detected trying to rip cash from online share trading accounts at some of Australia’s biggest brokers, including Morgan Stanley and Commsec. A joint operation by the corporate watchdog ASIC and the Australian Federal Police, dubbed ...
Alleged Ponzi scheme operator faces court
May 26th, 2015
Following an ASIC investigation, an Adelaide man has faced court accused of deception totalling $12 million. Former mortgage broker Michael Samra faced Adelaide Magistrates Court on 22 May 2015 charged with 12 counts of deception. ASIC alleges Mr Samra ...
Largest independent broker-dealers enjoy double-digit revenue growth
May 4th, 2015
Despite lackluster sales of commission-rich products, IBD revenues grew in line with the broad market in 2014 Despite lackluster sales in 2014 of commission-rich products such as variable annuities and nontraded REITs, the leading independent broker-dealers managed to squeeze ...
ASIC: Two men sentenced in Australia’s largest insider trading case
March 17th, 2015
Joint media release with The Hon Josh Frydenberg, Assistant Treasurer and The Hon Kelly O’Dwyer, Parliamentary Secretary to the Treasurer Two men were sentenced to jail terms of 7 years and 3 months, and 3 years and 3 months ...
International and regional bodies that combat money laundering (Part A)
February 24th, 2015
Introduction Money laundering is a global phenomenon that thrives parasitically on the world’s financial markets. It ignores national boundaries in much the same way that the financial market place does. It has been accepted that this problem requires both ...
