Hong Kong’s Securities and Futures Commission (SFC) has reprimanded and fined two UBS Group subsidiaries, UBS AG, and UBS Securities Asia Ltd., HK$9.8 million and HK$1.75 million, respectively, for alleged “regulatory breaches.” The total fine of HK$11.55 million is approximately $1.5 million in U.S. currency. The SFC is a financial regulator that oversees brokers, investment advisers… Read More >>
Firms to Cut 400,000 Jobs by 2030: Report
As securities firms move toward the new Nirvana of digital transformation, the result will be an acceleration of staff cuts resulting in “an enormous reduction in staff with more than 400,000 full-time employees lost by 2030,” according to a report from market research firm Opimas. In fact, asset management firms may see the greatest impact,… Read More >>
Loyalty Erodes As Buy Side Rethinks Broker-Dealers
Market research firm Greenwich Associates has found that behind “a remarkably stable” ranking of the top broker-dealers serving the buy side, it is wrong to assume that blind loyalty is ruling the day. In fact, in a new report, “Customer Retention in an Age of Electronic Trading,” the researchers found that “beneath the surface buy-side… Read More >>
Morningstar Korea Names Director of Manager Research
The Korean subsidiary of research provider Morningstar has hired Andy Jung as its director of manager research, officials say. In his new role at Morningstar Korea, Jung will oversee qualitative and quantitative manager research in the country. She’ll be leading four manager research analysts and directing overall coverage of the Korean market, including analyst reports,… Read More >>
FIS Global, Tata Top IDC FinTech List
IDC Financial Insights, the International Data Group market research subsidiary targeting financial IT managers, has unveiled its 11th Annual FinTech rankings. Topping the list this year is FIS Global, a provider of technology and services. In the number 10 position is the retail banking systems vendor Wincor Nixdorf, which characterizes its main focus as “business… Read More >>
