The United States Securities and Exchange Commission (SEC) today instituted settled charges against robo-adviser SoFi Wealth, LLC for breaching its fiduciary duties to clients in connection with its April 2019 investment of client assets into two new exchange-traded funds (ETFs) sponsored by its parent company, Social Finance, Inc. (SoFi). According to the SEC’s order, on…
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Multi-asset investment company Saxo Bank today announces the launch of its next equity theme basket focusing on the payments industry with 25 companies of high quality. The payments theme basket consists of 25 companies with a good mix of old and new companies, and a good geographical split although the US is overrepresented, but that…
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The Charles Schwab Corporation (NYSE:SCHW) has announced it is implementing a special 5% pay increase for employees in recognition of their unwavering service to clients and each other throughout the pandemic. Walt Bettinger, President and CEO, The Charles Schwab Corporation, commented: “This increase is a way to reward our talented employees for their contributions and…
ICE Futures today published a notice of summary fine issued to Credit Suisse Securities (Europe) Ltd. The fine stems from Credit Suisse’s violations of Exchange Rule 4.15(a). In relevant part, the rule says: “Each individual Person with Direct Access, employee of a Clearing Member or of a Person with Direct Access, automated trading system and…
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Online trading major Interactive Brokers keeps enhancing the capabilities of its PortfolioAnalyst, a solution that consolidates, tracks and analyzes one’s complete financial performance. Interactive Brokers is introducing a new fund sector in PortfolioAnalyst. Funds with assorted/mixed sector allocations are now classified as Broad. In the preceding update to the solution, support for Money-Weighted Return (MWR)…
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CME Group today announces that EBS migration mock trading is set to begin on October 2, 2021. In preparation for mock testing, CME asks that market participants continue to engage in the completion of the API certification process and submission of production connectivity forms. Migration of clients to the new EBS Workstation and EBS Direct…
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Afterpay Limited (ASX:APT) today introduced its new merchant analytics platform, Afterpay iQ. With this powerful new tool, brands gain access to valuable customer-centric analytics to help optimize investment and drive growth. The Afterpay iQ platform provides: Easy Data: AI-powered insights, visualizations, and real-time data are delivered in one, highly accessible self-service user interface. Single Source…
Binance’s offering across the globe keeps shrinking. Several days after the company said it was restricting its offering in Malaysia, Binance has announced changes to its services in Australia. With immediate effect, users from Australia will be restricted from opening new accounts for options, margin products, and leveraged tokens. This is an expansion of existing…
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In an SEC filing, Virtu Financial, Inc (NASDAQ:VIRT) has confirmed the resignation of Glenn Hutchins. On August 17, 2021, Mr Hutchins resigned from the Board of Directors of Virtu Financial and the Board’s Strategy Committee and Risk Committee, effective immediately. Mr Hutchins was nominated to the Board by Ordinal Holdings I, LP (f/k/a North Island Holdings…
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The Yuh app, launched by Swissquote and PostFinance in May 2021, has further expanded its cryptocurrency lineup by adding Polkadot. The addition is made in response to requests of the app’s users. Polkadot is a next-generation blockchain protocol that enables different blockchains to connect and communicate with each other. The protocol was launched with the…
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