Also, SoFi to pay FINRA fine; KPMG explores merger of the UK and Swiss businesses.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
CySEC Imposes Fines for
Non-Compliance with AML Laws
The Cyprus
Securities and Exchange Commission (CySEC) imposed fines on three companies
today (Thursday) for non-compliance with anti-money laundering and terrorist
financing laws. Egard Management Ltd faced the highest fine among the three,
amounting to €4,000,
Dr. George Theocharides, Chair at CySEC
This
decision, made by CySEC's Board was due to Egard Management's failure to
comply with several key sections of the Prevention and Suppression of Money
Laundering and Terrorist Financing Law.
Enter
Winglobe Management Ltd was fined a total of €1,500. Similarly, Apollo (Cyprus)
Limited was fined €1,500 for failing to comply with the same sections as Egard
and Enter Winglobe.
CySEC's actions
against these companies remind all firms operating in Cyprus's financial sector
to adhere strictly to legal requirements to avoid similar penalties.
SoFi Securities Accepts
FINRA Sanctions
SoFi
Securities LLC, a FINRA member since 2011, recently faced allegations from
FINRA for failing to establish adequate supervisory systems and making
misleading statements to customers. The company, known for offering
commission-free trading through its mobile app and website, was found to have
violated several FINRA rules, particularly in its fully paid securities lending
business.
Between
January 2019 and March 2023, SoFi did not have a proper supervisory system in
place, resulting in automatic enrollment of over two million customers into its
fully paid securities lending program without proper consent or transparency.
Additionally, SoFi distributed documents containing false information about the
compensation for customers participating in this program.
SoFi has
agreed to a settlement with FINRA, including a censure, a $500,000 fine, and
restitution of over $198,000.
Malaysia's Securities
Commission Updates Investor Alert List
The
Securities Commission Malaysia has refreshed its investor alert list. This list
serves as a cautionary guide for investors, highlighting unauthorized websites,
investment products, companies, and individuals. The recent update includes the
addition of Batu Kawan Bhd and UAG Markets as potential clone entities.
The list on
the Securities Commission's website is regularly updated and is not exhaustive.
The Commission encourages public vigilance and reporting of suspicious capital
market activities.
Nasdaq Appoints European
Market Services President
Roland Chai
has been appointed as the President of European Market Services at Nasdaq,
effective 1 January 2024. He will oversee multi-asset trading, clearing,
listings, and market services across various European stock exchanges.
Nasdaq's
European markets play a pivotal role in innovation, economic growth, and
prosperity in the Nordic and Baltic regions. With a commitment to technology
leadership and sustainability, Nasdaq is a key player in the development of
efficient and transparent capital markets.
SFC Publishes Quarterly
Report
The
Securities and Futures Commission's (SFC) Quarterly Report showcases robust
growth in exchange-traded funds (ETFs) and the number of open-ended fund
companies in Hong Kong. ETFs saw significant net inflows and increased average
daily turnover.
The SFC
reported on various initiatives, including enhancements to Stock Connect and
Wealth Management Connect, efforts to improve market liquidity, and the
issuance of new corporate licenses. The report further highlights the SFC's focus
on virtual asset trading platforms and its steps to reinforce market resilience
and manage risks.
KPMG Explores Merger of The UK
and Swiss Businesses
KPMG, one
of the “big four” accounting firms, is considering merging its UK and Swiss
businesses. This move is aimed at fostering growth, profitability, and
sustainability.
The merger
would combine the resources of KPMG's UK and Swiss units, aligning
approximately 19,600 employees. This strategic move follows job cuts in KPMG's
UK deal advisory business.
Royal Bank of Canada Fined
for AML Violations
Bloomberg
FINTRAC has
fined the Royal Bank of Canada (RBC) over $7.5 million for non-compliance with
anti-money laundering regulations. The violations include failing to report
suspicious transactions, inadequacies in transaction reports, and outdated
policies.
The penalty
emphasizes the importance of adhering to anti-money laundering and
anti-terrorist financing regulations. RBC is expected to enhance its compliance
measures in response.
FintechOS Announces Major
Update
FintechOS
has unveiled FintechOS 24, a significant update to its fintech enablement
platform. This version introduces a generative AI-enabled product designer for
streamlined development of financial products.
The update
aims to simplify and accelerate the creation and management of banking and
insurance products, especially for companies facing rapid industry changes and
competition.
CLS Welcomes Taipei Fubon
Bank to CLSNet
Taipei
Fubon Bank became the first Taiwanese bank to join CLSNet, CLS’s bilateral
payment netting calculation service. This addition to the CLSNet community,
which includes top global banks, marks a significant step for CLS in expanding
its services in the Asia Pacific region.
CLSNet
provides a platform for standardization and automation, reducing risks and
operational costs in foreign exchange markets. Taipei Fubon Bank's
participation will enhance its post-trade processes and contribute to market
stability and efficiency.
CySEC Imposes Fines for
Non-Compliance with AML Laws
The Cyprus
Securities and Exchange Commission (CySEC) imposed fines on three companies
today (Thursday) for non-compliance with anti-money laundering and terrorist
financing laws. Egard Management Ltd faced the highest fine among the three,
amounting to €4,000,
Dr. George Theocharides, Chair at CySEC
This
decision, made by CySEC's Board was due to Egard Management's failure to
comply with several key sections of the Prevention and Suppression of Money
Laundering and Terrorist Financing Law.
Enter
Winglobe Management Ltd was fined a total of €1,500. Similarly, Apollo (Cyprus)
Limited was fined €1,500 for failing to comply with the same sections as Egard
and Enter Winglobe.
CySEC's actions
against these companies remind all firms operating in Cyprus's financial sector
to adhere strictly to legal requirements to avoid similar penalties.
SoFi Securities Accepts
FINRA Sanctions
SoFi
Securities LLC, a FINRA member since 2011, recently faced allegations from
FINRA for failing to establish adequate supervisory systems and making
misleading statements to customers. The company, known for offering
commission-free trading through its mobile app and website, was found to have
violated several FINRA rules, particularly in its fully paid securities lending
business.
Between
January 2019 and March 2023, SoFi did not have a proper supervisory system in
place, resulting in automatic enrollment of over two million customers into its
fully paid securities lending program without proper consent or transparency.
Additionally, SoFi distributed documents containing false information about the
compensation for customers participating in this program.
SoFi has
agreed to a settlement with FINRA, including a censure, a $500,000 fine, and
restitution of over $198,000.
Malaysia's Securities
Commission Updates Investor Alert List
The
Securities Commission Malaysia has refreshed its investor alert list. This list
serves as a cautionary guide for investors, highlighting unauthorized websites,
investment products, companies, and individuals. The recent update includes the
addition of Batu Kawan Bhd and UAG Markets as potential clone entities.
The list on
the Securities Commission's website is regularly updated and is not exhaustive.
The Commission encourages public vigilance and reporting of suspicious capital
market activities.
Nasdaq Appoints European
Market Services President
Roland Chai
has been appointed as the President of European Market Services at Nasdaq,
effective 1 January 2024. He will oversee multi-asset trading, clearing,
listings, and market services across various European stock exchanges.
Nasdaq's
European markets play a pivotal role in innovation, economic growth, and
prosperity in the Nordic and Baltic regions. With a commitment to technology
leadership and sustainability, Nasdaq is a key player in the development of
efficient and transparent capital markets.
SFC Publishes Quarterly
Report
The
Securities and Futures Commission's (SFC) Quarterly Report showcases robust
growth in exchange-traded funds (ETFs) and the number of open-ended fund
companies in Hong Kong. ETFs saw significant net inflows and increased average
daily turnover.
The SFC
reported on various initiatives, including enhancements to Stock Connect and
Wealth Management Connect, efforts to improve market liquidity, and the
issuance of new corporate licenses. The report further highlights the SFC's focus
on virtual asset trading platforms and its steps to reinforce market resilience
and manage risks.
KPMG Explores Merger of The UK
and Swiss Businesses
KPMG, one
of the “big four” accounting firms, is considering merging its UK and Swiss
businesses. This move is aimed at fostering growth, profitability, and
sustainability.
The merger
would combine the resources of KPMG's UK and Swiss units, aligning
approximately 19,600 employees. This strategic move follows job cuts in KPMG's
UK deal advisory business.
Royal Bank of Canada Fined
for AML Violations
Bloomberg
FINTRAC has
fined the Royal Bank of Canada (RBC) over $7.5 million for non-compliance with
anti-money laundering regulations. The violations include failing to report
suspicious transactions, inadequacies in transaction reports, and outdated
policies.
The penalty
emphasizes the importance of adhering to anti-money laundering and
anti-terrorist financing regulations. RBC is expected to enhance its compliance
measures in response.
FintechOS Announces Major
Update
FintechOS
has unveiled FintechOS 24, a significant update to its fintech enablement
platform. This version introduces a generative AI-enabled product designer for
streamlined development of financial products.
The update
aims to simplify and accelerate the creation and management of banking and
insurance products, especially for companies facing rapid industry changes and
competition.
CLS Welcomes Taipei Fubon
Bank to CLSNet
Taipei
Fubon Bank became the first Taiwanese bank to join CLSNet, CLS’s bilateral
payment netting calculation service. This addition to the CLSNet community,
which includes top global banks, marks a significant step for CLS in expanding
its services in the Asia Pacific region.
CLSNet
provides a platform for standardization and automation, reducing risks and
operational costs in foreign exchange markets. Taipei Fubon Bank's
participation will enhance its post-trade processes and contribute to market
stability and efficiency.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Polymarket Rolls Out U.S. App After CFTC Green Light, Starting With Sports Events
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
