News Centre

US Department Of Justice: Former CEO Of Israeli Sales And Marketing Company Charged For Role In Fraudulent Binary Options Scheme

Date 23/03/2018

The former CEO of the Israel-based company Yukom Communications, a purported sales and marketing company, was charged in an indictment filed on March 22, for her alleged participation in a scheme to defraud investors in the United States and across the world in financial instruments known as “binary options.” 

New York Attorney General Schneiderman Announces Record $42 Million Settlement With Bank Of America Merrill Lynch Over Fraudulent “Masking” Scheme In Electronic Trading Division - Bank of America Merrill Lynch Admits To Systematically Misleading Clients About How Stock Orders Were Handled; Admits to Violating New York’s Martin Act - $42 Million Penalty Is Largest Ever State Recovery In Connection With An Electronic Trading Investigation

Date 23/03/2018

Attorney General Eric Schneiderman announced today that Bank of America Merrill Lynch (“BofAML”) will pay a record $42 million penalty to the State of New York to settle an investigation into fraudulent practices in connection with BofAML’s electronic trading services. As part of the settlement, BofAML admits that, pursuant to undisclosed agreements with so-called electronic liquidity providers (“ELPs”) such as Citadel Securities, Knight Capital, D.E. Shaw, Two Sigma Securities, and Madoff Securities, BofAML systematically concealed from its clients over a five-year period that it was secretly routing its clients’ orders for equity securities to such firms for execution. Attorney General Schneiderman’s investigation uncovered that BofAML made other misleading statements to its clients regarding several aspects of its electronic trading services—statements that made BofAML’s electronic trading services appear safer and more sophisticated than they really were. In addition to paying a penalty to New York State, BofAML admitted that it violated the Martin Act, New York’s securities law, and New York Executive Law § 63(12). 

OneChicago Good Friday Holiday Trading Hours

Date 23/03/2018

OneChicago, LLC (“OneChicago”) is issuing this Notice to Members (“NTM”) 2018-13 to inform market participants that OneChicago will be performing updates and routine maintenance on our user acceptance testing (“UAT”) environment on Monday, March 26, 2018 from 1600 CT to 1800 CT.  UAT services at this environment will be temporarily unavailable during this time and will resume at 1800 CT.

SEC Stops Ponzi-Schemer Targeting Retail Investors And Obtains Preliminary Injunction And Asset Freeze

Date 23/03/2018

The Securities and Exchange Commission today announced charges and a preliminary injunction and asset freeze against Niket Shah, a New Jersey resident who stole more than $250,000 in a Ponzi scheme in which his friends and coworkers invested.

CFTC Commitments Of Traders Reports Update

Date 23/03/2018

The current reports for the week of  March 20, 2018 are now available.

Nigerian Stock Exchange Weekly Report For March 23rd 2018

Date 23/03/2018

A total turnover of 2.328 billion shares worth N28.927 billion in 25,530 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.444 billion shares valued at N36.665 billion that exchanged hands last week in 26,712 deals. 

BME: TEMPORE PROPERTIES SOCIMI To Start Trading On MAB Tuesday, 3rd. April

Date 23/03/2018

The Board of Directors of MAB, BME’s Growth Market, has approved the listing of TEMPORE PROPERTIES SOCIMI following a thorough review of all the information presented by the company and after the favourable assessment report on its listing issued by MAB’s Coordination and Admissions Committee.

UK Financial Conduct Authority: Alex Hope Sentenced To 16 Months' Imprisonment For Perverting The Course Of Justice

Date 23/03/2018

Today at Southwark Crown Court Alex Hope was sentenced to 16 months imprisonment for perverting the course of justice. The charge related to his conduct following the imposition of a restraint order in 2012 and a confiscation order in 2016 arising from criminal proceedings brought by the FCA.

Office Of The Comptroller Of The Currency Reports Fourth Quarter 2017 Bank Trading Revenue

Date 23/03/2018

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $5 billion in the fourth quarter 2017, $1.4 billion, or 21.2 percent, lower than the previous quarter.

Brexit Transition Agreement A Major Step Forward, Says TheCityUK

Date 23/03/2018

Following formal approval of the Brexit withdrawal agreement between the UK and the European Council, including an transition period, Miles Celic, Chief Executive Officer, TheCityUK, said,

Businesses and customers across Europe are breathing a sigh of relief as the shadow of uncertainty is pushed back to the end of 2020. This agreement was not easy. It is a major step forward, and is a testament to the fact that where there is a political will, there is a way forward."