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  • FINRA Fines Banorte-Ixe Securities $475,000 For Inadequate Anti-Money Laundering Program And For Failing To Register Foreign Finders - Firm Failed To Monitor, Detect And Report $28 Million Activity In Customer Account Reportedly Tied To Mexican Drug Cartel

    Date 28/01/2014

    The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Banorte-Ixe Securities International, Ltd., a New York-based securities firm that services Mexican clients investing in U.S. and global securities, $475,000 for not having adequate anti-money laundering (AML) systems and procedures in place and for failing to register approximately 200 to 400 foreign finders who interacted with the firm's Mexican clients. FINRA also suspended Banorte Securities' former AML Officer and Chief Compliance Officer, Brian Anthony Simmons, for 30 days in a principal capacity, as he was responsible for the firm's AML procedures and for monitoring suspicious activities. As a result of the firm's AML compliance failures, Banorte Securities opened an account for a corporate customer owned by an individual with reported ties to a drug cartel, and did not detect, investigate or report the suspicious rapid movement of $28 million in and out of the account.

  • Results Of The December 2013 Survey On Credit Terms And Conditions In Euro-Denominated Securities Financing And OTC Derivatives Markets (SESFOD)

    Date 28/01/2014

      • Price terms tightened, especially for banks and dealers as well as insurance companies.

      • Terms offered to hedge funds and non-financial corporations eased overall.

      • Demand by counterparties for funding of all types of collateral increased.

      • Taken in isolation, implementation of leverage, liquidity coverage and net stable funding ratio regulatory initiatives is expected to lead to no more than a 25% decrease of securities financing books.

       

  • FESE Response To ESMA Discussion Paper On Market Abuse Regulation

    Date 28/01/2014

    FESE supports efficient, fair, orderly and transparent financial markets that meet the needs of well protected and informed investors and provide a source for companies to raise capital and for investors to hedge their portfolios. In this regard, FESE welcomes the opportunity to provide feedback to ESMA on policy orientations on possible implementing measures under the Market Abuse Regulation.

  • Egyptian Exchange Launches Nilex First Index

    Date 28/01/2014

    The Egyptian Exchange (EGX) started to take practical steps towards activating the first index that measures the performance of listed companies of the market for small and medium enterprises, NILEX. EGX indices committee studied, during its last meeting held on the 23rd of January, the launch of NILEX Index choosing from different methodologies.

  • MGEX Breaks Into Top 15 Daily Open Interest Records

    Date 28/01/2014

    MGEX, a Designated Contract  Market  (DCM)  and  Derivatives Clearing Organization (DCO), reports that open interest reached the top 15 on the daily Exchange open interest records after Monday’s trade date.

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