Search Results for: UBS Group
Forex firm shut down for fraud, CEO jailed, but now open again and seeks investments
May 11th, 2017
MMA Forex which duped hundreds out of millions of dirhams seeks investments all over again as CEO returns after more than 3 years in jail Nearly five years after it was shut down and its Pakistani CEO subsequently convicted ...
DCCC launches “Active Risk” Risk Management System
May 9th, 2017
The Dubai Commodities Clearing Corporation (DCCC), the leading Central Counter Party (CCP) in the region and a wholly owned subsidiary of the Dubai Gold & Commodities Exchange (DGCX), has announced the launch of a state-of-the-art Risk Management System (RMS) ...
EU lawyers admit that £92billion Brexit Bill is impossible to enforce
May 8th, 2017
EU lawyers admit that £92billion Brexit Bill is impossible to enforce and warn Eurocrats against attempting to make the UK pay the massive bill EU officials were told they could not ‘cherry pick’ the accounts and hit the UK with ...
China’s insurer to launch $1 billion fintech and health care fund
May 8th, 2017
Ping An Insurance Group, China’s largest insurer by market value, is launching its first overseas fund to invest in financial technology (fintech) and health care tech worldwide. Headed by Jonathan Larsen, an 18-year veteran of Citigroup, who joins as ...
Business cycles are credit cycles
May 7th, 2017
This article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as originating in the private sector, when they are the consequence of fluctuations in credit. It ...
Societe Generale reports net income of EUR 747 million for Q1 2017
May 6th, 2017
Net banking income for the businesses of EUR 6,518m (+4.0% vs. Q1 16) driven by the growth in International Retail Banking & Financial Services and Global Banking & Investor Solutions. Book net banking income of EUR 6,474m, up +4.8% ...
Breaking: Saxo Bank announces new shareholder; Key shareholder to own 30% of Saxo Bank
May 5th, 2017
Saxo Bank, a leading multi-asset trading and investment specialist, has issued an announcement today to inform that Lars Seier Christensen, co-founder of Saxo, has received an offer and agreed to sell his stake of 25.71 per cent of the ...
Year 2018 will come with significant changes in the rules for systematic internalisers, MiFID II and MiFIR
May 3rd, 2017
On 3 January 2018, significant changes in the rules for systematic internalisers will enter into force together with the revised Markets in Financial Instruments Directive II (MiFID II) and Markets in Financial Instruments Regulation (MiFIR). While the directly applicable ...
DTCC repo clearing services gain regulatory approval
May 3rd, 2017
The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that the Securities and Exchange Commission (SEC) has approved rule changes allowing its Fixed Income Clearing Corporation (FICC) subsidiary ...
The Bank of Russia decided to reduce the key rate to 9.25% p.a.
May 2nd, 2017
On 28 April 2017, the Bank of Russia Board of Directors decided to reduce the key rate to 9.25% per annum. The Board notes that inflation is moving towards the target, inflation expectations are still declining and economic activity is recovering. At the same time, inflation risks ...
