Primary dealers

AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year

Retrieved on: 
Monday, August 17, 2020
Financial regulation, Primary dealers

Fines issued by APAC regulators related to AML and KYC violations saw a dramatic increase from $3.5 million to almost $4 billion.

Key Points: 
  • Fines issued by APAC regulators related to AML and KYC violations saw a dramatic increase from $3.5 million to almost $4 billion.
  • The regulator reached a settlement with a major US headquartered global bank that included a $2.5 billion penalty and the guaranteed return of $1.4 billion in assets.
  • Regulators operating in APAC, including China, Hong Kong, Singapore, Malaysia, Taiwan, India and Pakistan, issued fines of almost $4 billion.
  • A solid digital-first strategy will better equip financial institutions to detect and prevent financial crime and deliver enhanced, digital customer experiences.

AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year

Retrieved on: 
Monday, August 17, 2020
Financial regulation, Primary dealers

Fines issued by APAC regulators related to AML and KYC violations saw a dramatic increase from $3.5 million to almost $4 billion.

Key Points: 
  • Fines issued by APAC regulators related to AML and KYC violations saw a dramatic increase from $3.5 million to almost $4 billion.
  • The regulator reached a settlement with a major US headquartered global bank that included a $2.5 billion penalty and the guaranteed return of $1.4 billion in assets.
  • Regulators operating in APAC, including China, Hong Kong, Singapore, Malaysia, Taiwan, India and Pakistan, issued fines of almost $4 billion.
  • A solid digital-first strategy will better equip financial institutions to detect and prevent financial crime and deliver enhanced, digital customer experiences.

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Deutsche Bank Aktiengesellschaft of Class Action Lawsuit and Upcoming Deadline – DB

Retrieved on: 
Sunday, August 16, 2020
Finance, Banks, Money, Abraham Pomerantz, Primary dealers, Deutsche Bank, Pomerantz, Securities Class Action, New York Stock Exchange

NEW YORK, Aug. 15, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Deutsche Bank Aktiengesellschaft (Deutsche Bank or the Bank) (NYSE: DB) and certain of its officers.

Key Points: 
  • NEW YORK, Aug. 15, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Deutsche Bank Aktiengesellschaft (Deutsche Bank or the Bank) (NYSE: DB) and certain of its officers.
  • If you are a shareholder who purchased Deutsche Bank securities during the Class Period, you have until September 14, 2020, to ask the Court to appoint you as Lead Plaintiff for the class.
  • To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions.

ATTENTION UPS EMPLOYEES WITH MERRILL LYNCH ACCOUNTS: KlaymanToskes Continues to Investigate Claims for UPS Employees with Losses from Unsuitable Covered Call Writing Strategies

Retrieved on: 
Friday, August 14, 2020
Legal, Professional services, Finance, Primary dealers, Subprime mortgage crisis, Brokerage firms, Investment, Banks of the United States, Merrill, Financial Industry Regulatory Authority

KlaymanToskes (KT) continues to investigate and pursue FINRA arbitration claims against Merrill Lynch on behalf of UPS (NYSE: UPS) current and former employees for losses sustained from an unsuitable recommendation to employ a covered call writing strategy.

Key Points: 
  • KlaymanToskes (KT) continues to investigate and pursue FINRA arbitration claims against Merrill Lynch on behalf of UPS (NYSE: UPS) current and former employees for losses sustained from an unsuitable recommendation to employ a covered call writing strategy.
  • Many UPS employees were solicited to invest with Merrill Lynch after UPS stock went public in 1999.
  • UPS employees have benefitted for many years from the growth, stability, and yield from the UPS stock.
  • The sole purpose of this release is to investigate the sales practices of Merrill Lynch for its recommendation to engage in an unsuitable covered call writing strategy.

E*TRADE Financial Corporation Reports Monthly Activity for July 2020

Retrieved on: 
Friday, August 14, 2020
Consulting, Banking, Professional services, Finance, Finance, Money, Companies, Primary dealers, Subprime mortgage crisis, E-Trade, Financial adviser, Bank, UBS, Financial services, Mitch Caplan, NASDAQ Financial-100

(3) Bank sweep deposits at unaffiliated financial institutions include customer cash related to Premium Savings Accounts held outside E*TRADE Financial presented net of deposit balances from unaffiliated financial institutions held on-balance sheet.

Key Points: 
  • (3) Bank sweep deposits at unaffiliated financial institutions include customer cash related to Premium Savings Accounts held outside E*TRADE Financial presented net of deposit balances from unaffiliated financial institutions held on-balance sheet.
  • E*TRADE Financial Corporation and its subsidiaries provide financial services including brokerage and related products and services to traders, investors, stock plan administrators and participants, and registered investment advisers (RIAs).
  • Employee stock and student loan benefit plan solutions are offered by E*TRADE Financial Corporate Services, Inc. E*TRADE Securities LLC, E*TRADE Futures LLC, E*TRADE Capital Management, LLC, E*TRADE Bank, E*TRADE Savings Bank, and E*TRADE Financial Corporate Services, Inc. are separate but affiliated companies.
  • E*TRADE, E*TRADE Financial, E*TRADE Bank, E*TRADE Savings Bank, and the E*TRADE logo are trademarks or registered trademarks of E*TRADE Financial Corporation.

StoneCo Ltd. Announces Pricing of Follow-on Offering of Class A Common Shares

Retrieved on: 
Thursday, August 13, 2020
Finance, Initial public offering, Money, Financial economics, Primary dealers, Subprime mortgage crisis, Corporate finance, Stock market, Morgan Stanley, Citigroup, Security, Public offering

GEORGE TOWN, Grand Cayman, Aug. 13, 2020 (GLOBE NEWSWIRE) -- StoneCo Ltd. (NASDAQ:STNE) (Stone) today announced the pricingon August 12, 2020 of a follow-on offering of27,375,000 of its Class A common shares at a public offering price of $47.50 per share.

Key Points: 
  • GEORGE TOWN, Grand Cayman, Aug. 13, 2020 (GLOBE NEWSWIRE) -- StoneCo Ltd. (NASDAQ:STNE) (Stone) today announced the pricingon August 12, 2020 of a follow-on offering of27,375,000 of its Class A common shares at a public offering price of $47.50 per share.
  • The shares are being offered by Stone pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the SEC).
  • In connection with the offering, Stone has granted the underwriters a 30-day option to purchase up to an additional4,106,250 Class A common shares at the public offering price less the underwriting discount.
  • J.P. Morgan Securities LLC, Morgan Stanley, Citigroup Global Markets Inc. and XP Investments US, LLC are acting as Global Coordinators in this offering.

KE Holdings Inc. Announces Pricing of Initial Public Offering

Retrieved on: 
Thursday, August 13, 2020
Other Professional Services, Commercial Building & Real Estate, Construction & Property, Networks, Internet, Professional services, Technology, Residential Building & Real Estate, Finance, Companies, Banks, Primary dealers, Subprime mortgage crisis, UBS, Warburg family, Credit Suisse

UBS Securities LLC, CLSA Limited, Credit Suisse Securities (USA) LLC, and CMB International Capital Limited are co-managers for the offering.

Key Points: 
  • UBS Securities LLC, CLSA Limited, Credit Suisse Securities (USA) LLC, and CMB International Capital Limited are co-managers for the offering.
  • KE Holdings Inc. is the leading integrated online and offline platform for housing transactions and services.
  • Statements that are not historical facts, including statements about KE Holdings Inc.s beliefs, plans, and expectations, are forward-looking statements.
  • Further information regarding these and other risks is included in KE Holdings Inc.s filings with the SEC.

Vertiv Holdings Co Announces Pricing of Secondary Offering

Retrieved on: 
Wednesday, August 12, 2020
Software, Technology, Hardware, Data management, Finance, Financial markets, Corporate finance, Stock market, Subprime mortgage crisis, Primary dealers, Goldman Sachs, Vertiv, J.P. Morgan & Co., Security, Stock

Subject to customary closing conditions, the Offering is expected to settle and close on or about August 17, 2020.

Key Points: 
  • Subject to customary closing conditions, the Offering is expected to settle and close on or about August 17, 2020.
  • Vertiv is not selling any shares of Class A common stock in the Offering and will not receive any proceeds from the Offering.
  • J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers of, and as representatives of the underwriters for, the Offering.
  • There can be no assurance that future developments affecting Vertiv will be those that Vertiv has anticipated.

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Deutsche Bank, Insperity, Energy Recovery, and Wins Finance and Encourages Investors to Contact the Firm

Retrieved on: 
Wednesday, August 12, 2020
Finance, Banks, Investment, Primary dealers, Deutsche Bank, Bragar

For more information on the Deutsche Bank class action go to: https://bespc.com/DB

Key Points: 
  • For more information on the Deutsche Bank class action go to: https://bespc.com/DB
    On July 29, 2019, Insperity released its second quarter 2019 financial results.
  • Despite delivering year-over-year growth and meeting analysts estimates, the Company offered disappointing third quarter 2019 guidance and reduced its full-year 2019 guidance.
  • For more information on the Wins Finance class action go to: https://bespc.com/WINS-2
    About Bragar Eagel & Squire, P.C.
  • The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country.

Citizens Financial Group to Present at the Barclays Global Financial Services Conference

Retrieved on: 
Wednesday, August 12, 2020
Banking, Professional services, Finance, Companies, Finance, Banks, Primary dealers, Subprime mortgage crisis, Citizens Financial Group, Royal Bank of Scotland Group, Barclays, ING Group, Citigroup, Financial services

Citizens Financial Group, Inc. (NYSE: CFG) announced today that Chairman and Chief Executive Officer Bruce Van Saun will present at the Barclays Global Financial Services Conference to be held virtually on Tuesday, September 15, 2020 at 9:00 am ET.

Key Points: 
  • Citizens Financial Group, Inc. (NYSE: CFG) announced today that Chairman and Chief Executive Officer Bruce Van Saun will present at the Barclays Global Financial Services Conference to be held virtually on Tuesday, September 15, 2020 at 9:00 am ET.
  • Citizens Financial Group, Inc. is one of the nations oldest and largest financial institutions, with $179.9 billion in assets as of June 30, 2020.
  • Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions.
  • Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings.