Ian Russell
It is good to see the Canadian Investor Protection Fund (CIPF) board weigh in on the CSA’s review of self-regulation, given the CIPF’s integral role in the Canadian self-regulatory system. In its paper, the CIPF has restricted its comments to answering one key question: Should the CIPF remain as an independent body or should it be integrated into a future SRO?
The CIPF protects, within prescribed limits, client assets held by IIROC-registered firms in the event of a firm’s insolvency, in addition to managing the CIPF Fund for compensating client losses and administrating insolvencies of troubled IIROC firms. The CIPF coordinates closely with IIROC to ensure it obtains prompt notice from IIROC of a troubled situation possibly requiring compensation payments to clients through the CIPF Fund.
SEC warns Nigerian fintechs against trading foreign stocks today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
Bamboo, an
online investments platform that allows Nigerians and other users to access foreign and local securities, on Friday assured investors that their asset were safe.
The platform said this in response to the Securities And Exchange Commission’s declaration that services offered by Bamboo and other similar platforms were illegal.
Richmond Bassey, Bamboo’s Chief Executive Officer, said in a statement that investors’ assets on its platform “remain safe and easily accessible to you.”
“We are already in discussions with the SEC and our broker partner and are fully committed to working with them to ensure your interests as our users are fully protected,” he said.
SEC warns Nigerian fintechs against trading foreign stocks guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
Chinese-Owned Stock Trading App Is Quietly Amassing US Users
The U.S. stock market gyrations of 2020 need no introduction.
From the market depths in March, the federal stimulus-funded market rebound, to the meteoric rise of Tesla and recent technology IPOs, the year of COVID-19 has seen a large influx of consumers taking up stock investing. And for these new investors, the platform of choice to trade stocks is Robinhood.
While Robinhood initially popularized the commission-free stock trading model and has amassed more than 13 million users, Webull, a little-known competing app, has steadily been taking market share from Robinhood.
And an even lesser-known fact is that the company behind the app, Webull Financial LLC, is Chinese-owned.