News Nuggets | 23 November: eToro Presents New Products; Mercer to Pay $12M Penalty

<h1><span>eToro Debuts Argentina-Focused ETF</span></h1>
<p><span>eToro has
launched the Global X MSCI Argentina ETF (ARGT), exposing investors to
Argentina's largest stocks, particularly those traded in New York. This ETF
encompasses prominent Argentine companies across various sectors, including
MercadoLibre, YPF, and Arcos Dorados. </span></p>
<p>ARGT aims
to provide a diversified portfolio that reflects the growth potential of
Argentina's key market players. The offering aligns with <a href="https://www.financemagnates.com/tag/etoro/" target="_blank" rel="follow">eToro's
</a>zero-commission policy in eligible regions, making it an attractive option for
those looking to invest in the Argentine market.</p>
<h2><span>eToro's Climate-Conscious
Investment Option</span></h2>
<figure data-media-><img src="https://images.financemagnates.com/images/Etoro_id_b9813af1-0237-44f2-b7b1-57ea92736ce6_size260.jpg" alt="Etoro Logo" width="260" height="260" wrapper-="wrapper-" data-src="https://images.financemagnates.com/images/Etoro_id_b9813af1-0237-44f2-b7b1-57ea92736ce6_size260.jpg" aspect-ratio="1" /></figure><p><span>In
addition, eToro has introduced the XtremeWeather portfolio. This investment
opportunity includes stocks from industries poised to weather extreme climatic
events, from renewables to industrial supplies. </span></p>
<p><span>The
portfolio comprises 30 stocks, with a diversification strategy to minimize
risks and a rebalancing mechanism to adapt to changing conditions. The launch
comes as awareness grows about the financial implications of climate change and
the need for climate-resilient investment strategies.</span></p>
<h2><span>ASIC Secures Undertaking
from iExtend</span></h2>
<p>The
Australian Securities and Investments Commission (<a href="https://www.financemagnates.com/tag/asic/" target="_blank" rel="follow">ASIC</a>) has accepted a court-enforceable
undertaking from iExtend, following concerns that they operated without a
proper financial services license. </p>
<p><span>iExtend was
found to be entering into co-ownership deeds with policyholders, affecting life
insurance premium payments. As a result of ASIC's actions, iExtend is now
required to apply for a license that will cover issuing financial products,
general advice, and claims handling.</span></p>
<h2><span>Mercer's Multi-Million
Dollar Penalty</span></h2>
<figure data-media-><img src="https://images.financemagnates.com/images/ASIC_id_a91dfd22-572c-4f2a-8565-f8928a485205_size260.jpg" alt="ASIC" width="260" height="260" wrapper-="wrapper-" data-src="https://images.financemagnates.com/images/ASIC_id_a91dfd22-572c-4f2a-8565-f8928a485205_size260.jpg" aspect-ratio="1" /></figure><p><span>Mercer
Financial Advice has been ordered by the Federal Court of Australia and ASIC to
pay a $12 million penalty for multiple breaches, including failures in fee
disclosure and charging for unprovided services. </span></p>
<p><span>The court's
decision highlights the significance of maintaining accurate <a href="https://www.financemagnates.com//">compliance</a> systems
within financial services, and this ruling marks a substantial penalty in the
industry, reflecting the severity of Mercer's breaches.</span></p>
<h2><span>SFC Initiates Legal Action against AMTD Global Markets</span></h2>
<p>The
Securities and Futures Commission (<a href="https://www.financemagnates.com/tag/sfc/" target="_blank" rel="follow">SFC</a>) has begun legal proceedings against
AMTD Global Markets and its former executives for failing to comply with
investigation notices related to IPO processes. </p>
<p><span>Non-compliance involves suspected deceptive practices in the IPOs of some
listed companies. The SFC's action underscores the regulatory scrutiny on firms
and individuals to uphold market integrity.</span></p>
<h2><span>Mizuho's Move to Establish
China Securities Company</span></h2>
<p><a href="https://www.financemagnates.com/tag/mizuho/" target="_blank" rel="follow">Mizuho
Financial Group</a> has applied to set up a securities company in China, indicating
a strategic move into China's securities market. This application is part of
Mizuho's efforts to tap into China's capital markets, representing a
significant global fee pool. The initiative follows China's decision in 2019 to
allow fully-owned foreign securities entities to operate in its market.</p><h2><span>TradingView Enhances
Replay Trading with Brackets</span></h2>
<p><a href="https://www.financemagnates.com/tag/tradingview/" target="_blank" rel="follow">TradingView
</a>has introduced a new feature allowing users to apply bracket orders during
Replay trading. This tool enables traders to set take profit and stop loss
orders to strategize their positions better. The addition is part of
TradingView's continuous improvements, shaped by user feedback to refine the
trading experience on the platform.</p>
<p><span>“We hope
bracket orders in the Bar replay mode will help you design even more accurate
strategies. Keep sharing your feedback; it helps us make the platform better,”
the company commented.</span></p>
<h2><span>KPMG Canada and
Chainalysis Collaborate</span></h2>
<figure data-media-><img src="https://images.financemagnates.com/images/KPMG_880-400_id_c90a5a1e-dd31-4b48-bbe7-9ec7a117c34c_size260.jpg" width="260" height="260" wrapper-="wrapper-" data-src="https://images.financemagnates.com/images/KPMG_880-400_id_c90a5a1e-dd31-4b48-bbe7-9ec7a117c34c_size260.jpg" aspect-ratio="1" /><figcaption><div>Bloomberg</div></figcaption></figure><p>KPMG in
Canada has partnered with Chainalysis to enhance their capabilities in
combating illicit crypto transactions. This strategic alliance involves <a href="https://www.financemagnates.com/tag/KPMG/" target="_blank" rel="follow">KPMG</a>&nbsp;joining the Chainalysis Solution Provider program and aims to fortify the fight
against crypto fraud, leveraging Chainalysis's data monitoring technologies and
KPMG's forensic investigation expertise.</p>
<p><span>“Our
clients can leverage the expertise of KPMG’s trusted forensics and cryptoasset
advisory professionals to establish effective know-your-transaction rules,
stronger anti-<a href="https://www.financemagnates.com//">money laundering</a> protocols,” said Jonathan Levin, the Chief
Strategy Officer at Chainalysis.</span></p>

<h2><span>Leadership Reshuffle at
Korea Investment &amp; Securities</span></h2>
<p>Korea
Investment &amp; Securities has appointed Kim Sung-hwan as the new <a href="https://www.financemagnates.com/tag/ceo/" target="_blank" rel="follow">CEO</a>,
succeeding Jung Il-moon, who is now Vice Chairman. The move is part of a
broader management restructuring aimed at adapting to changing financial
environments. </p>
<p><span>The company
has also named Jeon Chan-woo as the CEO of Korea Investment Savings Bank,
reflecting a strategic emphasis on leadership and expertise in finance.</span></p>
<p><span>&nbsp;</span><br></p>

This article was written by Damian Chmiel at www.financemagnates.com.