Wells Fargo Clearing Services has been censured and fined $125,000 by the Financial Industry Regulatory Authority after the US broker failed to report hundreds of thousands of trades and neglected to maintain adequate supervisory systems over a period spanning several years. According to a Letter of Acceptance, Waiver and Consent submitted by the firm, Wells…
Key takeaways DJIA lagging but poised for catch-up: While other major US indices have posted gains post ceasefire, the Dow has underperformed but is now showing signs of a bullish catch-up above key support at 47,895. Macro tailwind improving for financials: Stabilisation and potential re-steepening of the US yield curve could boost bank profitability, supporting…
Two courts, one regulator, one week — the jurisdictional battle over who controls these markets moved to the center. On Wednesday, CFTC Chairman Michael Selig sat before the House Agriculture Committee and explained that the agency has a “zero tolerance policy” toward fraud, manipulation, and insider trading across all prediction markets. Singapore Summit: Meet the…
Why do so many traders pay for guidance and still feel lost after a few weeks? A forex trading mentor should bring clarity, not another layer of confusion. If the person teaching cannot explain risk, execution, and decision-making in plain language, the relationship turns expensive fast. Choosing a mentor gets tricky because confidence is easy…
USD/INR: India rupee weakens as dollar demand picks up after gold import order Source link
DTCC and CME Group have received regulatory approval from both the US Securities and Exchange Commission and the Commodity Futures Trading Commission to extend their cross-margining arrangement to end-user clients, with the expanded service set to launch on 30 April. The arrangement will allow clients of dually registered broker-dealers and futures commission merchants that are…
StoneX Group has tabled an increased possible cash offer for London-listed cross-border payments firm CAB Payments at 110 pence per share, up from its previous proposal of 95 pence, valuing the company at approximately £287 million. CAB Payments’ independent board said the revised non-binding proposal had been received on 9 April, and that it would…
Charles Schwab has announced the launch of Schwab Crypto, a spot cryptocurrency trading service that will be rolled out to retail clients in phases over the coming weeks. At launch, clients will be able to trade Bitcoin and Ethereum directly, with the two cryptocurrencies together accounting for approximately three-quarters of the total crypto market capitalisation. …
American Express said Thursday that it has struck an agreement to acquire Hypercard, known as Hyper, an artificial intelligence-driven expense management company, as the financial services giant accelerates its push to embed agentic technology across its commercial services business. Founded in 2022, Hyper specialises in transforming expense management from a manual process into autonomous workflows. …
Mandelson vetting decision “utterly unacceptable” – chief secretary to PM With the prime minister in Paris for talks on the opening of the strait of Hormuz, his chief secretary, Darren Jones, has been taking flak for the Mandelson vetting revelations on the morning media rounds. Jones has told broadcasters the Foreign Office’s decision to overrule…