Fine Financial News

The ICAV has admitted it failed to report 200,640 derivative trades entered into between January 2018 and May 2020 by one of its sub-funds to a trade repository.

In a significant legal development, Judge Manish Shah of the U.S. District Court for the Northern District of Illinois has issued a verdict ordering cryptocurrency exchange Binance and its former CEO, Changpeng “CZ” Zhao, to pay a staggering $2.85 billion to the Commodity Futures Trading Commission (CFTC).

Pictet was accused of setting up 1,637 secret bank accounts in Switzerland on behalf of US taxpayer clients, which enabled them to evade $50.6m in taxes between 2008 and 2014.

Catherine Lucey, Vivian Salama and Nancy A. Youssef contributed to this article. Write to Ken Thomas at [email protected] and Gordon Lubold at [email protected]

₹29,287 crore during April-September, hitting a peak of ₹198,730 crore on 21 September. Subsequently, RBI’s liquidity operations show that banks have borrowed an average of over ₹125,000 crore every day under MSF for the seven days between 25 September and 1 October.

SAT) has set aside the Securities and Exchange Board of India's order against Cairn India, now part of Vedanta Ltd, over alleged violation of buyback rules. The tribunal set aside a fine of ₹5.25 crore imposed on Cairn India for allegedly making a misleading public announcement of the buyback of shares on January 14, 2014. «The company could not have foreseen or predicted that the stock markets would witness this bullish trend at the time when the decision for going for a buyback was taken nor could the company be aware at the time of making the public announcement that the traded price of the scrip would be above the maximum buyback price on 68 days out of 123 trading days,» SAT said in its order on Thursday. It also set aside a penalty of ₹15 lakh each Sebi had imposed on P Elango, then CEO and a director of Cairn, and two other directors: Aman Mehta and Neerja Sharma.

A record-breaking fine has pushed Openmarkets to a $5.2 million loss, but the brokerage’s chief executive, Dan Jowett, says the Sydney-based company is still powering towards a Nasdaq listing by early next year.

The Treasurer’s office raised no objection to extending the competition watchdog’s monitoring of price gouging by airlines, but said Transport Minister Catherine King would need to determine it is a priority.

₹5,000 to ₹10,000, reported Times of India. The action has come as a response to local taxi drivers complaints regarding the use of private vehicle by commercial carpooling apps. According to the Transport Department, private vehicles with a white registration plate for commercial purposes are illegal, according to Times of India.Moreover, their vehicle’s registration certificate can also get suspended for six months, Additional Commissioner (Enforcement) of the Transport Department Malikarjun C told TOI.

Manipur, stricken by ethnic violence and rampant protests since 3 May, erupted after a seeming lull, when images of two teenagers who had been missing for months, surfaced online as dead bodies, murdered. The two teenagers' death triggered fresh violent protests , this time involving participation from Manipur's student community. On Saturday, Manipur Chief Minister N Biren Singh announced that the armed assailants, visibly blurred in the viral images will be captured.

After tracking sideways over the weekend, Bitcoin fell to around $26,100 on Tuesday, down from approximately $26,450 on Monday.

By Gwladys Fouche

MRF Ltd. The case relates to the National Company Law Appellate Tribunal's (NCLAT's) December order asking the CCI, India's anti-monopoly watchdog, to reconsider and recalculate the fine it imposed on tyre companies over alleged cartelisation and price manipulation. A bench led by Justice Sanjiv Khanna issued notice on Monday to the CCI, and also tagged the MRF's appeal with that of the one that the CCI had made, ET has reported.

The price of Bitcoin has held steady this week even as stocks have tumbled, a divergence that some analysts say could signal more pain ahead for the cryptocurrency market.

NEW DELHI : Markets regulator the Securities and Exchange Board of India (Sebi) on Wednesday imposed a fine of ₹5 lakh on brokerage Yes Securities for irregularities pertaining to settlement of client funds, shortage in collection of margin and for not adhering to leverage and exposure limits. Sebi along with the stock exchanges, inspected the accounts of Yes Securities in 2022 during which the regulator discovered several discrepancies in reporting.

UBS Group AG will on Wednesday seek to convince France’s top court to overturn a reputation-damaging conviction and €1.8 billion ($1.9 billion) penalty for helping wealthy French clients stash away undeclared funds in Swiss accounts.

European Union antitrust enforcers have slapped Intel with a fresh $400 million fine in a long-running legal fight that the chipmaker appeared to have won last year

European Commission slapped a reduced fine of 376 million euros ($400 million) against US chipmaker Intel Friday for abusing its dominance in the computer chip market, after an EU court annulled a bigger penalty. The European Union's antitrust enforcer said Intel had «engaged in a series of anticompetitive practices aimed at excluding competitors from the relevant market», it added.

The $2.1 million fine levied against National Australia Bank for overcharging about 5700 customers with account fees is “woefully insufficient”, a Federal Court judge says.

Sebi has imposed a fine of Rs 35 lakh on MI Research for violating regulatory norms. MI Research (Proprietor — Ashish Jain) is a Sebi-registered Investment Adviser. The order came after Sebi conducted an examination into the business of MI Research with respect to compliance of the entity with IA (Investment Advisers) regulations. The period of examination was November 2017 to August 2019. In its order on Monday, Sebi found that MI Research had collected up to Rs 1.95 crore from 748 clients by charging them for services provided as an investment adviser.

Google accused the European Union of overreach by imposing a ₹2.4 billion ($2.6 billion) fine over how it favoured its own shopping services to the detriment of rivals. The Alphabet Inc. unit can't be expected to treat its competitors the same as it does its own businesses, lawyers for the US tech giant argued before judges at the EU's highest court.