Security Financial News

A firm that lost millions of dollars of client funds in two separate cyber incidents is to pay $850,000 and agree to a cease-and-desist order and censure, to settle charges with the Securities and Exchange Commission.

The stepbrother of a former Goldman Sachs Group Inc. associate was sentenced to a year of probation for trading on inside tips taken from the investment bank and from Blackstone Inc. 

Also read: KYC Maze: Investors, distributors face updating hurdles with NDML & DotEx KRAs In the Reserve Bank of India’s (RBI) KYC norms through the Master Directive in 2016 and subsequent updates, banks were mandated to ensure: that any new bank account applicant is who they say they are (proof of identity); they live where they say they live (proof of address); banks had to also conduct a physical verification for the documents (OSV, or Original Seen and Verified and CPV, or Contact Point Verification) The reason for this type of verification is to ensure that no fraudster enters the system, specifically, the government was worried about terrorism and money laundering. Along the way, RBI introduced anti-money laundering checks to enhance security. The new fraudsters found that they could use minimum KYC compliance norms using stolen IDs to open ‘burner’ accounts or mule accounts.

₹10,000 segment with the introduction of the Moto G45 5G. Although the phone's official price starts at ₹10,999 in India, it is available at an effective price of ₹9,999 owing to launch offers, aligning it with the prices of two other recently launched 5G phones: the Vivo T3 Lite and the Realme C63.

Read this | Tata, Vedanta, other business groups join the market upswing The analysis is based on data from the Association of Mutual Funds in India (Amfi), which classifies stocks based on guidelines from the Securities and Exchange Board of India issued in 2017. The latest categorization is derived from the average market capitalization of listed companies during the six months ended 30 June 2024.

MUMBAI : Livpure, a provider of water purification solutions, has raised ₹233 crore in a funding round as it gears up for aggressive growth. The capital was raised from private equity giant M&G Investments and venture capital firm Ncubate Capital Partners. "The capex will primarily be required to build the subscription network across the country as we expand from 26 cities to 50, and eventually to 100 cities in the next three years," said Rakesh Kaul, managing director, Livpure.

The overall data from the Nifty 500 Index shows a year-over-year (YoY) revenue growth of 6.6%, an operating profit increase of 3.3% YoY, and a net profit growth of 2.6% YoY.

Starbucks has announced that Brian Niccol will be the new chairman and CEO, effective September 9, 2024. Niccol, who will succeed Laxman Narasimhan, will start his new role amid a significant leadership transition at the global coffee company. Narasimhan's departure, after just over a year as CEO, has set the stage for Niccol's high-profile appointment.

₹20,000 price range. However, with so many choices available, users often feel overwhelmed when searching for a budget gaming device.

Ola Electric successfully met the minimum localisation criteria of 50% as mandated by the Ministry of Heavy Industries. The company stands to receive incentives ranging from 13% to 18% of the determined sales value of compliant products for up to five consecutive financial years starting from Fiscal 2024. With this Ola Electric has become the only EV maker to get PLI compliance certification for four products: S1 Air, S1 Pro, and S1 X models in both 3 kWh and 4 kWh versions. The S1 Air received PLI certification earlier at the Auto PLI Conclave held in January 2024. Following this announcement, shares of Ola Electric rose by 4.4% to INR 143.8 in Wednesday trading on the BSE.

Defence Minister Rajnath Singh will embark on a four-day visit to the US beginning August 23 to strengthen the India-US Comprehensive Global Strategic Partnership. During the visit, Singh will engage in talks with US Defence Secretary Lloyd Austin and National Security Advisor Jake Sullivan, focusing on key defence cooperation initiatives, including the procurement of 31 MQ-9B Predator drones, joint manufacturing of Stryker infantry combat vehicles, and the co-production of GE F414 engines in India. The Defence Ministry announced that Singh's visit aims to deepen and broaden the India-US Comprehensive Global Strategic Partnership, in light of the growing momentum in bilateral relations and defence engagements. Officials highlighted the significance of Singh’s meetings, noting that the Indian Defence Acquisition Council (DAC) has recently cleared the MQ-9B Predator drone deal with certain amendments, and the Indian Navy’s partnership with HawkEye 360 as part of the QUAD Indo-Pacific Partnership of Maritime Domain Awareness (IPMDA). “The visit is expected to further deepen and broaden the India-US Comprehensive Global Strategic Partnership,” the Defence Ministry stated while announcing Singh’s trip to the US from August 23 to 26.

Diversified auto ancillaries’ revenue growth stood at 23% YoY in Q1FY25, while their EBITDA increased by 29% YoY during the same period. In comparison, auto OEMs experienced a 9% revenue increase, with their EBITDA growth at 21%, according to a Nuvama note. The coverage included Bharat Forge, Endurance Technologies, CIE Automotive, SAMIL, Sona BLW Precision, Uno Minda, and Varroc Engineering.

BEIJING — China's latest export controls has rattled insiders of the critical minerals industry, and some are concerned that Beijing will leverage its global supply chain dominance in unprecedented ways.

Live Updates: From early beginners to aggressive investors, it is impossible to ignore mutual funds while planning a long-term investment strategy. Similarly, it is unthinkable to manage mutual fund investments without Livemint’s coverage of MF news, returns, NAVs, fund managers, SIP, NFOs, equity MFs, and other mutual fund schemes.

<a href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. gained 3.1 per cent to Rs 4868.0 in Wednesday's trade. It hit a high of Rs 4881.0 and low of Rs 4744.8 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 3979.18, while the 50-DMA was at Rs 4650.57. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

ICICI Securities Ltd’s application for delisting the company from the stock exchanges on Wednesday. The division bench of Justice Virendra Singh G. Bisht and a technical member Prabhat Kumar, while approving the scheme in an oral order, also dismissed two applications that objected to the delisting scheme. The detailed order was not uploaded till the time of filing the story.

Genus Power Infrastructure rose 5% to its new all-time high of Rs 438.35 on BSE after the company reported that it has won orders worth Rs 3,608.52 crore for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs). The orders for appointment of AMISPs also include the design of an Advance Metering Infrastructure (AMI) system with supply, installation, and commissioning with FMS of about 4.26 million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.

Bharat Bandh 2024 Live Updates: Several groups and organisations have called for a strike today to oppose the Supreme Court ruling on SC/ST reservations. Services, school operations are likely to be affected in Rajasthan, Kerala, and other states.

Portfolio management services (PMS) are navigating new challenges after the Union Budget for 2024-25 increased tax on long-term capital gains (LTCG) and short-term capital gains (STCG).

₹5 lakh cash or cash equivalent for either buying or selling options," said Rajesh Baheti, director, Crosseas Capital, one of India's largest arbitrage and jobbing firms. “Another suggestion is to have multiple index products expire on the same day in place of having just a single expiry per week per exchange." Baheti said these were part of his comments to Sebi's 30 July consultation paper titled “Measures to strengthen index derivatives framework for increased investor protection and market stability". Three of the most important recommendations of Sebi’s Secondary Market Advisory Committee (SMAC) are to increase the initial margin to trade, have only a single product expiry per week per exchange, down from the current five indices which expire each day of week, and increase in contract size from ₹5-10 lakh currently to ₹25-30 lakh.

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