Nasdaq Sets Up Three New Divisions Nasdaq has announced that it is reorganizing its business units into three divisions that better reflect “the foundational shifts” of the global financial system and will help the exchanges company better serve client needs. The three new business divisions are Market Platforms, Capital Access Platforms, and Anti-Financial Crime, officials… Read More >>
$1B in Misused 1MDB Funds Returned to Malaysia
Justice Department Sends Back Misappropriated Funds U.S. Justice Department officials report that they have returned “an additional $452 million in misappropriated 1Malaysia Development Berhad (1MDB) funds to the people of Malaysia, bringing the total returned to over $1.2 billion.” The repatriation of the funds from the former 1MDB investment development fund follows a scandal in… Read More >>
ARRC Webinars Focus on LIBOR Replacement
ARRC Webinars Explain SOFR & More The Alternative Reference Rates Committee (ARRC) has launched a “Summer Series” of webinars that will focus on the replacement for the London Inter-bank Offered Rate (LIBOR), and that will run for the rest of this month and throughout August. Global financial markets have begun a transition away from the… Read More >>
RBC & TD Settle Charges of FX Noncompliance
The Ontario Securities Commission (OSC) has approved settlements with the Royal Bank of Canada (RBC) and the Toronto-Dominion Bank (TD) that arise from “compliance failures” in the banks’ foreign exchange (FX) trading businesses. “These failures allowed RBC and TD FX traders to share confidential customer information in chatrooms with FX traders at competitor firms,” the… Read More >>
Schroders Takes Majority Stake in Impact Investor
Schroders Invests in BlueOrchard Global asset manager Schroders and BlueOrchard Finance Ltd. have announced that they have entered into an agreement “under which Schroders will acquire a majority stake in leading impact investor BlueOrchard,” officials say. Based in Zurich, Switzerland, BlueOrchard, which is engaged in microfinance and impact investing, was founded in 2001, officials say…. Read More >>
Former RBC CCO Joins Oyster Consulting
Financial consulting vendor Oyster Consulting has hired Richard T. Chase as the new managing director of its New York office, officials say. Oyster expects Chase’s hire to “continue Oyster’s expansion as a regulatory and compliance leader, enhancing its ability to help broker-dealers, exchanges and investment advisors respond to increasing SEC and FINRA expectations regarding trading… Read More >>
