News Centre

FINRA Orders Joseph Stone Capital And Several Representatives To Pay $1 Million In Restitution For Excessive Trading In Customer Accounts - Three Supervisors Suspended For Failing To Respond To Red Flags - Eight Representatives Suspended For Excessive Trading

Date 08/09/2022

FINRA announced today that it has ordered Joseph Stone Capital LLC to pay restitution of approximately $825,000 to customers whose accounts were excessively traded by the firm’s representatives. In related settlements, FINRA suspended eight current or former Joseph Stone representatives and required them to pay, collectively, an additional $211,000 in restitution to the firm’s impacted customers. In addition, FINRA suspended three supervisors at the firm for failing to reasonably identify or respond to red flags of excessive trading, and barred two representatives for refusing to respond to FINRA’s requests for information in connection with the investigation.

Ontario Securities Commission Announces New Members Of The Investor Advisory Panel

Date 08/09/2022

The Ontario Securities Commission (OSC) today announced three new members of its independent Investor Advisory Panel (IAP) following a public application process.

Canadian Securities Regulators Adopt Streamlined Capital-Raising Option For Canadian-Listed Issuers

Date 08/09/2022

The  Canadian Securities Administrators (CSA) is adopting a new prospectus exemption for issuers listed on a Canadian stock exchange, aimed at providing a more efficient way for them to raise capital.

Cboe And NEO Dual Launch New Suite Of Women-Led Sustainable ETFs In The U.S. And Canada

Date 08/09/2022

• Emerge launches sustainable investment strategies with U.S. and Canada-domiciled ETFs, led by an all-women portfolio management team
• Efficient, streamlined listing process across U.S. and Canada expected to create greater investor interest and liquidity
• Listings follow Cboe's recent acquisition of NEO and leverage the company's combined strengths and equities platforms

AFME Statement On The Death Of Queen Elizabeth II

Date 08/09/2022

We are deeply saddened to hear of the death of Her Majesty the Queen. We wish to extend our deepest condolences to the Royal Family for their loss on behalf of the Association for Financial Markets in Europe and its members. We are thankful for the Queen’s many years of loyal service to the United Kingdom.

NGX Regulation Limited Promoting Regulatory Technology In A Digital Age

Date 08/09/2022

Tinuade Awe, Chief Executive Officer, NGX Regulation Limited (NGX RegCo) has said the company is deploying resources toward promoting Regulatory Technology (RegTech) in Nigeria’s capital market. This disclosure was made at the 26th Annual Chartered Institute of Stockbrokers' conference which held on Thursday, 8 September 2022 in Benin City.

TMX Group Consolidated Trading Statistics – August 2022

Date 08/09/2022

TMX Group Limited today announced August 2022 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange and Montréal Exchange.

Litmus Test For An Alternative To PFOF And Other Market Structure Nuances: By Kelvin To, Founder And President Of Data Boiler Technologies

Date 08/09/2022

In the EU, Capital Markets Union (CMU) set to ban payment for order flow (PFOF), while Germany is trying to block it. This controversial matter stirs up debate in the US as well. One camp favors the SEC Chair Gensler’s hype about “order-by-order” competition published in a paper that clearly benefits auction markets, such as Apex CODA. Another group of academic researchers suggests ‘no evidence that PFOF harms price execution’. In an earlier article we pointed out various flaws with the proposal to route retail order flow to auction and offered an alternative approach. In this article we address questions we received and elaborate on how this Copyright Licensing Mechanism is relevant to solving not only the retail order flow but is a revamp with various incentives to market data/ market structure issues.

CFTC Chairman Behnam To Testify Before The U.S. Senate Committee On Agriculture, Nutrition, And Forestry

Date 08/09/2022

Corporate And Municipal CUSIP Request Volumes Fall For Second Straight Month In August - Short-Term CDs Extend Eight-Month Growth Streak

Date 08/09/2022

CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for August 2022. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, found a monthly decrease in request volume for new corporate and municipal identifiers.