News Centre

Brokerage Firm To Exit Penny Stock Deposit Business And Pay Penalty For Repeatedly Failing To Report Suspicious Trading

Date 28/09/2018

The Securities and Exchange Commission today announced settled charges against clearing firm COR Clearing LLC for failing to report suspicious sales of penny stock shares totaling millions of dollars.  As part of the settlement, COR has agreed to exit a key penny stock clearing business by significantly limiting the sale of penny stocks deposited at COR. 

New York Attorney General Underwood Announces $10 Million Settlement With Credit Suisse Over Fraudulent Electronic Trading Practices - Credit Suisse Secretly Treated Retail Orders By Everyday Investors Differently, Depending On Whether Execution Quality Would Be Reported - Settlement Marks Latest Case In AG’s Electronic And High-Frequency Trading Initiative – As A Result Of AG Investigations, Four Firms Have Agreed To Pay $130.5 Million In Penalties

Date 28/09/2018

Attorney General Barbara D. Underwood today announced that Credit Suisse Securities (USA) LLC (“Credit Suisse”) has agreed to pay $10 million to settle an investigation into fraudulent practices in connection with Credit Suisse’s Retail Execution Services (“RES”) business. Credit Suisse’s RES division was a wholesale market-making business that executed retail equity orders of everyday investors that Credit Suisse received from retail broker-dealers like Edward Jones, Raymond James, and others.

Credit Suisse Agrees To Pay $10 Million to Settle Charges Related To Handling Of Retail Customer Orders

Date 28/09/2018

The Securities and Exchange Commission today announced that Credit Suisse Securities (USA) LLC has agreed to settle charges brought by the SEC and the Office of the New York Attorney General regarding material misrepresentations and omissions made in connection with its now-closed Retail Execution Services (RES) business’ handling of certain customer orders.  The settlements require Credit Suisse to pay $5 million to the SEC and $5 million to the NYAG for a total of $10 million.

Nasdaq International Hosts Its Fourth Designation Virtual Investor conference

Date 28/09/2018

Nasdaq, Inc. (Nasdaq: NDAQ) announced the conclusion of its Fourth Nasdaq International Designation Virtual Investor conference on September 19, 2018. Select member companies from around the globe presented their current state of business to a broad audience including potential investors. The conference also provided individual and institutional investors an opportunity to engage with CEOs, CFOs, and IROs from a wide range of sectors globally.

TradingScreen's Response To 'TradingScreen Shareholders Association' Lawsuit Update

Date 28/09/2018

In response to today's legal update from the TradingScreen Shareholders Association', TradingScreen issued the following statement:

“After having several meritless, baseless, and frivolous actions and motions ruled against him by three different courts and an AAA arbitration panel, and having fired no less than 9 different legal counsel, Mr. Buhannic is now seeking to sue those who have represented the Company, ruled against him or in his mind somehow otherwise wronged him. This flailing and irresponsible misuse of the legal system to pursue his personal grudges has exceeded the limits of logic. 

Legal Action Update: TradingScreen Shareholders Association Extends The Reach Of RICO Lawsuit

Date 28/09/2018

On Friday, September 14th, the TradingScreen Shareholders Association (TSA) filed a RICO action against private equity giant, TCV and others.  According to the RICO action lawsuit filed in NY federal court by TSA, since 2010, the private equity company has tried to defraud the Tradingscreen shareholders for the benefit of the Series D shareholders in an illegal scheme.

Nigerian Stock Exchange Weekly Stock Market Report For September 28th 2018

Date 28/09/2018

A total turnover of 924.546 million shares worth N14.194 billion in 14,119 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.370 billion shares valued at N19.503 billion that exchanged hands last week in 16,076 deals.

Swap Market Goes Live On October 1, 2018 In Borsa İstanbul

Date 28/09/2018

Borsa Istanbul and its subsidiary Clearing House of Turkey (Istanbul Takas ve Saklama Bankası A.S., Takasbank) have finalized the preparations for the establishment of Swap Market. The first announcement on the preparations of the establishment of Swap Market was made on 08/27/2018.

From The Data Rush To The Data Wars: A Data Revolution In Financial Markets, SEC Commissioner Kara M. Stein, Atlanta, GA, Sept. 27, 2018, Georgia State University College Of Law – Henry J. Miller Distinguished Lecture Series

Date 28/09/2018

Thank you Dean [Wendy] Hensel for that kind introduction. It is an honor to be chosen to give the 62nd Henry J. Miller Distinguished Lecture at Georgia State University College of Law. It is a testament to Henry Miller himself that his legacy continues to advance a public dialogue on so many important topics and I’m pleased to be part of that discussion. I would also like to thank a few of my colleagues for being here tonight—Bill [Dixon], Aaron [Lipson], and Richard [Best], who work in the Securities and Exchange Commission’s Atlanta Regional Office.

CFTC Announces Agenda For FinTech Forward 2018 Conference

Date 28/09/2018

The Commodity Futures Trading Commission (CFTC) announced today the agenda for FinTech Forward 2018: Innovation, Regulation and Education, the two-day conference on October 3 and 4 in Washington, D.C.