News Nuggets | 29 November: Tiger Brokers Offers US Bonds; Nomura Retail Division Rebrands

Tiger Brokers Expands to US Treasuries

Tiger Brokers (Singapore) has introduced over 360 US Treasury securities on its trading platform, Tiger Trade. This decision is in response to the growing investor demand for low-risk investments amidst the current economic climate characterized by high inflation and macroeconomic uncertainties. The platform offers advanced technical features, such as T+0 trading, T+1 settlement, rapid execution of orders, and quick dividend and interest payments.

The addition of US treasuries, including bonds, bills, and notes, complements the existing array of investment options on Tiger Trade, such as stocks, options, and futures from global markets.

Nomura's Retail Division Renamed

Nomura Holdings, Inc. has announced the renaming of its Retail Division to the Wealth Management Division, effective from April 2024. This change reflects a strategic overhaul in the division's business model and revenue structure, leading to significant results. The division has been restructured to assist clients in asset management better, shifting its focus towards a comprehensive wealth management service model.

Nomura's new Wealth Management Division will offer a variety of services, including in-person consulting, digital platforms, and employee services tailored to asset building. The company is committed to contributing to Japan's transformation into an investment-oriented nation and ensuring a prosperous future for its clients.

SC Malaysia Charges Former Director for Money Laundering

Muhamad Fadzli Jamaludin, a former director of Kyaputen Sdn Bhd, faces charges from the Securities Commission Malaysia (SC) for money laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term offenses involving over RM1.23 million (USD 264,388.50). These charges, dated between August 2018 and April 2020, are linked to unlicensed fund management activities. Fadzli has pled not guilty and is currently out on bail, with conditions including passport surrender and monthly reporting to the SC.

In light of this case, the SC has advised investors to be cautious and skeptical about investment opportunities. An updated Investor Alert List is available to help the public identify unauthorized or unlicensed entities.

Eurex and TradingView Collaborate

Eurex Exchange and TradingView have joined forces to offer TradingView users cost-effective access to real-time market data. This includes data for nearly 2000 products such as EURO STOXX 50 Index Futures and DAX Futures. The collaboration aims to democratize access to financial information and aid users in making informed trading decisions.

Eurex's integration of TradingView's charting capabilities onto its website marks a step forward in their partnership. This move is aimed at enhancing the trading experience for non-professional users by making real-time market data more accessible and affordable.

Cathedra Bitcoin Reports Q3 2023 Financial Results

Cathedra Bitcoin Inc. has announced its financial results for Q3 2023, showing a significant increase in bitcoin mining yield and revenue. The company mined 73.40 Bitcoins, compared to 67.09 in the same period last year, thanks to an expanded hash rate. Despite an increase in network hash rate, the company's revenue also rose, reflecting the effectiveness of its operational strategies.

Cathedra has filed a base shelf prospectus valid for 25 months, allowing it to issue various securities in Canada up to an aggregate offering amount of US$10 million. This move is part of the company's strategy to expand its financial capabilities and market presence.

OnePath Custodians Fined for Misconduct

OnePath Custodians Pty Ltd has been ordered by the Federal Court to pay a $5 million penalty for making false or misleading representations and for failing to provide services efficiently and fairly. The company should have disclosed the incorrectly charged fees and failed to disclose information accurately to its superannuation product members.

The Australian Securities and Investments Commission (ASIC) Deputy Chair Sarah Court emphasized the regulator's priority to address misconduct that erodes superannuation balances. ASIC ASIC The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the Read this Term's efforts in this area include ongoing legal actions against entities for similar breaches, and they continue to monitor the sector to protect consumers' retirement savings.

Fong Financial Planners Convicted for Dishonest Conduct

In a separate case, ASIC has fined Fong Financial Planners Pty Ltd for dishonestly conducting its financial services business. The company was found guilty of submitting false information on client insurance applications, failing to disclose critical client details, and thus breaching the trust of its clients.

ASIC highlighted the importance of trust in the financial advisory sector and the need for general deterrence in such cases. Mitigating factors in sentencing included the company's early guilty pleas and ASIC's banning orders against its sole director.

FMA New Zealand Warns of Scam Involving Heartland Bank

The Financial Markets Authority (FMA) of New Zealand has issued a warning regarding a scam offering fake term deposits and bonds using Heartland Bank's name. Scammers have used the bank's branding and staff names to lure investors with fraudulent investment offers.

The FMA advised investors to verify investment offers through official channels and be wary of unsolicited investment opportunities. Heartland Bank has clarified that it does not contact the public by phone to offer investment products, highlighting the need for diligence in investment decisions.

NASDAQ Introduces Technology for Carbon Credit Market

NASDAQ has unveiled new technology to digitize the issuance, settlement, and custody of carbon credits. This move is intended to support the growth and institutionalization of the global carbon market, which currently suffers from fragmentation and a lack of standardization.

The technology will enable market operators to create and distribute digital credits with full auditability. Nasdaq's framework and APIs are designed to encourage the establishment of a standardized ecosystem, attracting quality liquidity and enhancing market connectivity.