News Centre

FINRA Fines Wells Fargo Advisors And Wells Fargo Advisors Financial Network $1.5 Million For Anti-Money Laundering Failures - Firms Failed To Subject Over 200,000 New Accounts To Identity Verification

Date 18/12/2014

The Financial Industry Regulatory Authority (FINRA) today announced that it has ordered two St. Louis-based broker-dealers under common control, Wells Fargo Advisors (WFA) and Wells Fargo Advisors Financial Network (WFAFN), to pay a joint fine of $1.5 million for anti-money laundering (AML) failures. For nine years, the firms failed to comply with a key aspect of the anti-money laundering compliance program for broker-dealers by failing to subject approximately 220,000 new customer accounts to the required identity-verification process.

MIAX Options - Monthly Trading Permit And Market Data Fee Changes - Effective January 1, 2015

Date 18/12/2014

Effective January 1, 2015, the MIAX Options Fee Schedule will be amended as outlined below:

Federal Reserve Board Announces Banking Entities Have Until July 21, 2016, To Conform Investments In And Relationships With Covered Funds And Foreign Funds That Were In Place Prior To December 31, 2013

Date 18/12/2014

The Federal Reserve Board announced on Thursday that it has acted under section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly known as the Volcker Rule, to give banking entities until July 21, 2016, to conform investments in and relationships with covered funds and foreign funds that were in place prior to December 31, 2013 ("legacy covered funds"). The Board also announced its intention to act next year to grant banking entities an additional one-year extension of the conformance period until July 21, 2017, to conform ownership interests in and relationships with legacy covered funds.

SEC Charges Staten Island-Based Firm With Operating Boiler Room Scheme Targeting Seniors

Date 18/12/2014

The Securities and Exchange Commission today charged a Staten Island, N.Y.-based firm, its former president, and two sales representatives involved in a fraudulent boiler room scheme targeting seniors to invest in speculative start-up companies.

European Commission - Statement By Commissioner Vestager Welcoming Luxembourg's Decision To Provide All Information Requested On Tax Rulings And Patent Boxes

Date 18/12/2014

"I am very pleased that the Luxembourg government has today announced they will fully comply with the Commission's requests for information on its tax rulings practice and patent box scheme. They will now provide the Commission with all the requested information outstanding.

The Commission would then no longer need to pursue infringement action against Luxembourg."

New York Stock Exchange Announces Fourth Consecutive Year Of IPO Leadership In Global Capital Raising - Technology IPO Leader

Date 18/12/2014

The New York Stock Exchange, part of the Intercontinental Exchange (NYSE: ICE) global network of exchanges, announced today that NYSE Group raised $182 billion in 545 transactions in 2014, more than any other exchange in the world. Listing eight of the 10 largest 2014 U.S. initial public offerings (IPOs), NYSE Group led in capital raised from IPOs for the fourth consecutive year and once again led in technology IPOs.

Tel Aviv Stock Exchange Weekly Review: 14-18 December 2014

Date 18/12/2014

Trading on the Tel Aviv Stock Exchange (TASE) during the third week of December ended down in share and bond indices; "Frutarom" and "Melisron" entered the TA-25 Index.

Financial Stability Oversight Council Releases Request For Comment On Asset Management Products And Activities - Council Seeks Public Comment On Potential Financial Stability Risks Related To Liquidity And Redemptions, Leverage, Operational Functions, And Resolution

Date 18/12/2014

The Financial Stability Oversight Council (Council) today voted [unanimously] to release a noticeseeking public comment regarding potential risks to U.S. financial stability from asset management products and activities.  The Council is seeking input from the public about potential risks to the U.S. financial system associated with liquidity and redemptions, leverage, operational functions, and resolution in the asset management industry.

CFTC Staff Issues Extensions Of No-Action Relief To Four Foreign Clearing Organizations

Date 18/12/2014

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Clearing and Risk (DCR) today issued extensions of no-action relief to four foreign clearing organizations: ASX Clear (Futures) Pty Limited, Clearing Corporation of India Ltd., Korea Exchange, Inc., and OTC Clearing Hong Kong Limited.

CSDR: ESMA Consults On Implementing Measures For New Settlement Regime

Date 18/12/2014

The European Securities and Markets Authority (ESMA) has launched three consultations on proposed technical standards, technical advice and guidelines implementing the Central Securities Depositories Regulation (CSDR).