The UK Financial Conduct Authority (FCA) announces that it has decided to make an order, pursuant to section 56 of the Act, prohibiting Paul Seakens from performing any function in relation to any regulated activity carried on by any authorised person, exempt person or exempt professional firm. Mr Seakens committed offences of converting criminal property…
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Embattled offshore Retail FX broker Samtrade FX has posted an “FAQ” statement, updating the effective shutdown of the company by Singapore police and that country’s financial regulator MAS earlier this month. The police and regulator action included the arrest of three Samtrade FX management team members, which we believe includes the company’s controlling shareholder and…
Read More “Samtrade FX updates on trading and withdrawal freeze” »
The UK Treasury Committee has published correspondence on the increasing cost of card payment services for businesses in the UK. In response to a letter from the Committee Chair, the Payment Systems Regulator (PSR) outline that they have not seen evidence that the costs of operating payment services have increased for card issuers to warrant…
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S&P Dow Jones Indices announced today that it will remove Afterpay Limited (ASX:APT) from the S&P/ASX 200, as a result of the scheme of arrangement whereby the company will be acquired by Block, Inc (NYSE:SQ). S&P Dow Jones Indices will remove Afterpay Limited from the S&P/ASX 200 effective prior to the open of trading on…
The Hong Kong Monetary Authority (HKMA) announces the completion of an investigation and disciplinary proceedings for 33 Financial Services Limited (33FS) under the Payment Systems and Stored Value Facilities Ordinance (PSSVFO). The regulator has reprimanded and ordered 33FS to pay a pecuniary penalty of HK$875,000 for contravening section 8Q of the PSSVFO as it failed…
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The total carbon footprint of the bitcoin network increased by about 25% in 2020, while the number of transactions fell by 6%. This amounts to a climate impact of about 402 kg of CO2 per bitcoin transaction in 2020, according to the first results of a new method developed by De Nederlandsche Bank (DNB) to…
Read More “DNB: The climate impact per bitcoin transaction is rising” »
AEGIS Hedging Solutions today announced a new executive appointment, naming Steve Resnick to the newly created position of Chief Customer Officer. With over 25 years of experience in customer success roles, Mr Resnick will be responsible for leading an integrated customer success organization that includes onboarding, technology adoption, product support, and new product integration for…
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Global market maker Virtu Financial, Inc. (NASDAQ:VIRT) today announced that its subsidiaries successfully completed and priced its new $1.80 billion senior secured first lien term loan due in 2029. The Term Loan was priced at SOFR (with a floor of 50 basis points) + a credit spread adjustment + 300 basis points, and issued at…
Read More “Virtu Financial prices its new $1.80 billion senior secured first lien term loan” »
Bank of America today announced the launch of CashPro Forecasting, a tool that uses artificial intelligence (AI) and machine learning (ML) technology to more accurately predict future cash positions across clients’ accounts at Bank of America and other financial institutions. The solution was developed in collaboration with a fintech that specializes in applying machine learning…
Visa Inc (NYSE:V) announces a new platform, Visa Acceptance Cloud (VAC), set to revolutionize the way businesses accept payments from their customers. Following the success of the company’s popular “Tap to Phone” solution, VAC will let acquirers, payment service providers, point of sale (POS) manufacturers, and Internet of Things (IoT) players move payment processing software…
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