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IEX Exchange has convened leading retail brokerage firms to examine how market structure could change in response to the recent uptick in retail investor participation in the equities market. Nearly a dozen retail brokers have joined IEX Exchange’s Retail Trading Advisory Committee, or RTAC, including, Betterment Securities, LLC, E*TRADE Securities LLC, Fidelity Investments, Inc., Interactive…

Read More “Retail brokers to take a closer look at recent market structure changes” »

Less than a month after Citadel Securities responded to the complaint brought by investors who suffered heavy losses during the January “short squeeze”, the traders have also filed their response. In fact, a number of documents were filed by the plaintiffs in the multi-district litigation on September 21, 2021. These documents include not only the…

Read More ““Short squeeze” lawsuit plaintiffs slam Robinhood, Citadel Securities for PFOF” »

The United States Commodity Futures Trading Commission (CFTC) and former HSBC executive Christophe Rivoire have secured additional time for completing discovery. On September 22, 2021, Judge J. Paul Oetken of the New York Southern District Court granted the parties’ request to extend the discovery deadline until January 31, 2022. This means that the CFTC and…

Read More “CFTC, former HSBC exec secure additional time for depositions” »

The United States Securities and Exchange Commission (SEC) today announced charges against Sergei Polevikov, who worked as a quantitative analyst at two prominent asset management firms, for perpetrating a years-long front-running scheme that generated illicit profits of at least $8.5 million. According to the SEC’s complaint, filed in the New York Southern District Court, from…

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Genesis, the low-code/no-code platform built for financial markets, has announced that Billy Morris has joined the company as its new Chief Financial Officer (CFO), as the company additionally announces the October opening of a new office in Dublin, Ireland. He will report directly to Stephen Murphy, Genesis Chief Executive Officer (CEO), and will act as…

Read More “Fintech software provider Genesis hires Billy Morris as CFO, opens Dublin office” »

The Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) have jointly published guidance to help crypto trading platforms understand and comply with requirements under securities law and IIROC rules for advertising, marketing and social media use. Securities regulators have noticed a recent increase in advertising and marketing by crypto trading platforms….

Read More “Canadian regulators outline expectations for advertising and marketing by crypto trading platforms” »

Fidelity National Information Services, Inc. (NYSE:FIS) today confirms that it has received notification of an unsolicited “mini-tender” offer by TRC Capital Investment Corporation (TRC) to purchase up to 1 million shares, or approximately 0.16% of the outstanding common stock of FIS as of September 17, 2021, at a price of $118.25 per share in cash….

Read More “FIS recommends to shareholders to reject TRC’s “mini-tender” offer” »

The European Securities and Markets Authority (ESMA) announces that it has fined trade repository UnaVista Limited €238,500 for eight breaches of the European Market Infrastructure Regulation (EMIR). The breaches relate to failures in ensuring the integrity of data and providing direct and immediate access to regulators. The breaches, committed between 2016 and 2018, were found…

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The United States Financial Industry Regulatory Authority (FINRA) has suspended a former representative of Transamerica Financial Advisors, Inc. over his engagement of outside business activities involving cryptocurrencies. Marceliano Macias first became registered with FINRA in 2020. He was registered as an Investment Company and Variable Contracts Products Representative through an association with Transamerica Financial Advisors,…

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Online gaming tech giant Playtech (LON:PTEC) has released its financial and operating results for the first half of 2021, which included some interesting information regarding its for-sale Financials division Finalto. Finalto includes the group’s B2B institutional FX business (formerly Alpha Capital Markets and CFH Group), and the Markets.com Retail FX and CFDs brand. First, regarding…

Read More “Finalto revenues down 8% in 1H-2021 to €32M, sale to Gopher “ongoing”” »