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Calastone Transaction Network Achieves 10,000 Global Trading Links Milestone

Date 21/09/2016

Calastone, the global funds transaction network, has today announced that it has reached a significant milestone in its global expansion, with its network now providing over 10,000 trading links worldwide.
LATTICE80, The World's Largest Fintech Hub To Be Launched In Singapore - A Not-For-Profit Initiative Led By Marvelstone Group - LATTICE80 Has Been Working Closely With The Monetary Authority Of Singapore (MAS)

Date 21/09/2016

Marvelstone Group is set to launch the world's largest Fintech Hub (over 30,000 sq ft) in early November.
Contineo Wins Best Dealer Platform Asia Pacific

Date 21/09/2016

Contineo, the industry-backed messaging network for structured products, last night won Best Dealer Platform Asia Pacific for the second year running at the annual Structured Retail Products Awards in Hong Kong.
DTCC to Reduce Trade Repository User Fees For MAS & ASIC Transactions By Up To 20% - Growth In The Global Trade Repository’s User Community Enables Firm To Extend Cost Reductions To Clients Through Efficiencies Gained Via Utility Approach

Date 21/09/2016

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that it will be reducing fees for its Global Trade Repository (GTR) service by up to 20% for clients leveraging the solution for Monetary Authority of Singapore (MAS) and Australian Securities & Investments Commission (ASIC) transactions. Total savings per individual client depends on volume and/or commitment term. DTCC was able to offer these pricing changes as a direct result of the growth of the GTR utility in its MAS and ASIC user community.
TMX Group Updates Organizational Transformation

Date 20/09/2016

TMX Group Limited today provided a detailed update on the progress made thus far in its efforts to streamline the organization and accelerate TMX's evolution as a client-driven solutions provider to capital markets in Canada and across the globe.

CFTC Charges Florida-Based KB Concepts Group, LLC and Kelvin Burgos With Engaging In Illegal, Off-Exchange Precious Metals Transactions

Date 20/09/2016

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil injunctive enforcement action in the U.S. District Court for the Southern District of Florida against Florida-based Defendants KB Concepts Group, LLC d/b/a Apex Asset Advisors, LLC(Apex) and Kelvin Burgos, Apex’s president, controlling person, and managing member responsible for its day-to-day operations. The CFTC’s Complaint charges the Defendants with engaging in illegal, off-exchange transactions in precious metals with retail customers on a leveraged, margined, or financed basis. The Complaint further alleges that Burgos, as controlling person for Apex, is liable for Apex’s violations of the Commodity Exchange Act (CEA).
FINRA Hearing Panel Sanctions Avenir Financial Group And Bars Former CEO Michael Todd Clements For Fraud - Firm Fined $229,000, Ordered To Offer Rescission To Defrauded Investors, And Suspended Two Years From Engaging In Self-Offerings - Registered Representative Suspended Two Years

Date 20/09/2016

The Financial Industry Regulatory Authority (FINRA) announced today that a FINRA hearing panel has sanctioned Avenir Financial Group, fining the NY-based firm $229,000 and suspending it for two years from engaging in any self-offerings of securities for misconduct including the fraudulent sales of equity interests in the firm and promissory notes. Additionally, the firm failed to provide to customers written disclosures regarding compensation from the sales and the use of proceeds in connection with the equity offerings, and inadequately supervised the firm’s capital raising. The hearing panel also barred former Chief Executive Officer and Chief Compliance Officer Michael Todd Clements from the securities industry for fraud, suspended registered representative Karim Ahmed Ibrahim (aka Chris Allen) for two years for fraud, and ordered Ibrahim to disgorge his $25,000 commission. In addition, Avenir, Clements and Ibrahim were ordered to offer rescission to defrauded customers. The hearing panel dismissed the charges that Clements aided and abetted the fraud, as well as the charge that Avenir misused customer funds. The decision resolves charges brought by FINRA's Department of Enforcement in April 2015. Since May 2015, the firm, Clements, and Ibrahim have been subject to a temporary cease and desist order pending the resolution of the charges.
Bats Welcomes VanEck As A New U.S. Issuer, Building Upon European Relationship - 17 Issuers Now Listed On Bats In The U.S.

Date 20/09/2016

Bats Global Markets, Inc. (Bats: BATS), the #1 market globally for exchange-traded fund (ETF) trading, today welcomed VanEck as a U.S. issuer on The Bats ETF Marketplace, building upon the European relationship between the two companies.
CFTC Orders Raja Michael Mawad And His Texas-Based Company, RNS Holdings LP, To Pay A Civil Monetary And Restitution Totaling More Than $389,000 For Fraud And Failure To File Required Annual Reports

Date 20/09/2016

The U.S. Commodity Futures Trading Commission (CFTC) today filed and simultaneously settled charges against Respondents Raja Michael Mawad, who resided in Houston, Texas during the relevant period (from in or about 2009 to at least early 2015) and the company he founded, owned, and ran, RNS Holdings LP, a Texas corporation headquartered in Houston, Texas, charging them with engaging in acts or practices which operated as a fraud upon participants in a commodity pool they operated and failing to distribute to participants and submit to the National Futures Association (NFA) the Annual Reports required of a CFTC-registered Commodity Pool Operator (CPO).
Comptroller Of The Currency Discusses OCC Supervision Of Wells Fargo

Date 20/09/2016

Comptroller of the Currency Thomas J. Curry today discussed supervision leading up to the recent enforcement actions against Wells Fargo Bank, N.A., for unsafe and unsound sales practices. His remarks came during testimony before U.S. Senate Committee on Banking, Housing, and Urban Affairs.