FINRA, the self-regulatory organization (SRO) for broker-dealers, has expelled Alpine Securities Corp. for its alleged misconduct. An attorney representing Alpine Securities, replying to questions from FTF News, took issue with FINRA’s finding, saying, “Alpine will be appealing the decision and, pursuant to applicable regulations, will continue to operate while the decision is reviewed.” Expulsion is,… Read More >>
Average Wall Street Bonuses Hit $257,500
Bonus season on Wall Street is here and it could be quite lucrative for some. For achievements in 2021, bonuses for staff at actual Wall Street firms grew by 20 percent over bonuses for 2020, according to the New York State Comptroller’s office. “The average bonus paid to employees in New York City’s securities industry… Read More >>
State Street Fast Tracks Digital Asset Custody Services: Q&A
(Earlier this month, State Street Digital, part of State Street Corp., signed a licensing agreement with an institutional digital asset custody and trading infrastructure vendor, Copper.co, based in London. State Street Digital is using Copper to fast track the construction of its custody services for active cryptocurrencies and other digital assets. Those services, which are… Read More >>
First OTC Crypto Trade for Goldman Sachs & Other Briefs
Goldman Sachs Completes a Bitcoin NDO Trade Goldman Sachs and Galaxy Digital Holdings Ltd. have executed the investment bank’s first over-the-counter (OTC) cryptocurrency transaction in “the form of a Bitcoin non-deliverable option (NDO),” officials say. Galaxy, which is a global provider of blockchain and cryptocurrency financial services for institutions, reports that the transaction “marks the… Read More >>
SEC Gets Serious About Cybersecurity Risks
We know that Vladimir Putin commands an army of hackers that he’s unleashed before — to interfere in American elections and to spread social-media disinformation. The current media and intelligence-services consensus is that — in the wake of the multiple economic sanctions imposed on him and his henchmen over the war against Ukraine — he’s… Read More >>
Swap Dealer Fined $3M for Alleged Disclosure Failures
A London-based swap dealer, ED&F Man Capital Markets, Ltd. (ED&F Man) has reached a $3.25 million settlement with the Commodity Futures Trading Commission (CFTC) that ends a case involving charges of reporting woes, supervisory failures, and conflicts of interest that underscore the pitfalls securities firms face when trading via multiple jurisdictions. ED&F Man officials signed… Read More >>
Deutsche Bank Securities Settles Best Execution Case for $2M
FINRA, the self-regulatory organization (SRO) for broker-dealers, has hit Deutsche Bank Securities with a $2 million fine. The reason: FINRA alleges that Deutsche Bank Securities did not provide its customers with the supervisory “best execution” that FINRA’s rule 5310 calls for. Industry veterans will tell you that there was a time when regulators would have… Read More >>
Charles River IMS Links to LTX And Other Briefs
Charles River IMS Uses LTX to Bolster Bond Trading LTX, an A.I.-enabled corporate bond trading platform from Broadridge Financial Solutions, has been integrated with an established offering — the Investment Management Solution (IMS) from Charles River — in order to offer end-users better liquidity aggregation and improved workflows, trade transparency, and price discovery, officials… Read More >>
FTF Unveils Nominees for the 2022 FTF Awards!
Financial Technologies Forum (FTF) and FTF News are pleased to announce the nominees for the 2022 FTF News Technology Innovation Awards competition. The variety and high volume of nominations are clear signs that fintech achievement is alive and kicking amid the challenges of a global pandemic, volatile markets, and a steady flow of game-changers such… Read More >>
A Whistleblower’s $14M Payday & Other News Briefs
Whistleblower Led SEC to Ongoing Fraud A whistleblower that published an online report about “an ongoing fraud” wound up with a $14 million payday from the SEC, according to the latest award announcement from the regulator. The whistleblower went to the SEC after posting the report “and was persistent in reaching out to the staff,… Read More >>
