The UK Advertising Standards Authority (ASA) today issued a ruling against Skrill Ltd for a piece of advertising involving cryptocurrencies that was found to be misleading. The ad in question is a paid-for Reddit ad for Skrill, an online wallet and money transfer service, seen on 31 July 2021. The ad included text which stated…
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Swiss online trading firm Swissquote is further expanding its cryptocurrency lineup via the addition of Avalanche (AVAX). Developed by Emin Gün Sirer in 2018 and officially launched in 2020, Avalanche is an open source platform based on Proof of Stake (PoS) validation. It enables the development of decentralised applications (DeFi), tokens and interoperable blockchains. To…
Electronic trading major Interactive Brokers continues to expand its news and research offering. Clients of the broker enjoy access to dozens of free and premium market research and news providers. Interactive Brokers has recently made additional news and research providers available on the IBKR Platform. New providers include: MacroRisk Analytics The company was created by…
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The UK Prudential Regulation Authority (PRA) has imposed a fine of £5,376,000 on Metro Bank plc for failing to act with due skill, care and diligence in relation to the regulatory reporting of its capital position and for failings in its regulatory reporting governance, controls and investment with respect to its Common Reporting (COREP) returns…
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More than six months have passed since the Court appointed Rust Consulting to serve as Distribution Agent for the Fair Fund comprising $40 million in penalties paid by Elon Musk and Tesla Inc as a part of a settlement with the Securities and Exchange Commission (SEC). It turns out, however, that the distribution procedure has…
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The Australian Securities and Investments Commission (ASIC) announces that it has cancelled the Australian financial services (AFS) licence of United Wealth Group Pty Ltd. ASIC found that the operation of a one size fits all advice model and the use of generic reasons to support personal advice recommendations meant United Wealth Group failed to ensure…
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Visa Inc (NYSE:V) has completed the acquisition of Currencycloud, a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments. The acquisition will empower Visa and Currencycloud clients and partners to provide greater transparency, flexibility and control for consumers and businesses when making international payments or doing business in…
US based online broker Interactive Brokers (NASDAQ:IBKR) has been running a series of television ads, touting its lack of use of payment-for-order-flow (PFOF) in handling client orders. The ads seem to be a response to Robinhood (NASDAQ:HOOD), which burst onto the scene in recent years and has taken a lot of business away from “traditional”…
Cryptocurrency platform Voyager Digital Ltd announces that Brian Brooks has been appointed to its Board of Directors effective immediately. Brian Brooks is currently CEO of Bitfury Group Ltd and was formerly the Acting Comptroller of the U.S. Currency at the Office of the Comptroller of the Currency and, before that, the Chief Legal Officer of…
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The United States Securities and Exchange Commission (SEC) today announced fraud charges against five Russian nationals for engaging in a multi-year scheme to profit from stolen corporate earnings announcements obtained by hacking into the systems of two U.S.-based filing agent companies before the announcements were made public. The SEC’s complaint, filed in federal district court…
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