Top Stories of the day July 01
July 1st, 2015
1. Playtech is pleased to announce that its subsidiary, TradeFX Limited (“TradeFX”), has entered into a share acquisition agreement under the terms of which it will acquire the entire issued share capital of Ava Trade, an online B2C CFD ...
SEC Charges Goldman Sachs With Violating Market Access Rule
July 1st, 2015
The Securities and Exchange Commission charged Goldman, Sachs & Co. with violating the market access rule in connection with a trading incident that resulted in erroneous executions of options contracts. Goldman Sachs agreed to pay a $7 million penalty to ...
CySec announced Revocation of UCITS license
June 30th, 2015
The Cyprus Securities and Exchange Commission has issued an announcement to inform about the revocation of the operation licence of the Local Common Fund ‘Argus Funds’ (umbrella scheme) (‘the Common Fund’) with number UCITS 04/78. The Revocation is pursuant to ...
SEC Charges KKR With Misallocating Broken Deal Expenses
June 30th, 2015
The Securities and Exchange Commission today charged Kohlberg Kravis Roberts & Co. (KKR) with misallocating more than $17 million in so-called “broken deal” expenses to its flagship private equity funds in breach of its fiduciary duty. KKR agreed to ...
Regulatory Fine
June 26th, 2015
Global Regulators Cyprus Securities and Exchange Commission (CySec) Fines Imposed for Year 2015 and 2016
J.P. Morgan, SEC in Settlement Talks Over Product Steering
June 25th, 2015
J.P. Morgan, other banks have faced more scrutiny on conflicts policies from OCC J.P. Morgan Chase & Co. is in talks with the Securities and Exchange Commission to settle a probe into whether the bank inappropriately steered private-banking clients to ...
SEC Obtains Asset Freeze Against China-Based Trader for Suspicious Activity Last Week
June 24th, 2015
The Securities and Exchange Commission today obtained an emergency court order to freeze the assets of a trader in China who profited by more than $1 million after trading in a U.S. brokerage account in advance of last week’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 ...
Deloitte instead of PWC for the world’S largest plumbing supplies group Wolseley
June 23rd, 2015
The world’S largest plumbing supplies group Wolseley yesterday said it was changing auditors and hiring Deloitte to carry out its statutory audits, instead of rival PwC. PwC has been the FTSE 100 company’s auditor since before it was listed ...
SEC Announces Enforcement Action for Illegal Offering of Security-Based Swaps
June 18th, 2015
The Securities and Exchange Commission today announced an enforcement action against a company that illegally offered complex derivatives products to retail investors. The Dodd-Frank Act implemented two key requirements for any security-based swaps offering to a retail investor who ...
