January 24, 2024 @ 9:27 am By JD Alois  |  

The Swiss Financial Market Supervisory Authority (FINMA) has appointed  Stefan Walter as its new Chief Executive Officer.  Walter will step into the role on April 1, 2024 with Birgit Rutishauser acting as interim CEO. Urban Angehrn resigned from the leadership position at FINMA at the… Read More

January 23, 2024 @ 4:20 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has revealed an order demanding Crowd Machine, Metavine, and founder Craig Sproule to disgorge $19,676,401.27 raised in an “unregistered and fraudulent offering of crypto asset securities.” Additionally, pre-judgment interest in the amount of $3,358,147.75 is being added to the… Read More

January 23, 2024 @ 1:42 pm By JD Alois  |  

FINRA, the organization that regulates all of the broker-dealers in the United States, says a recent review of crypto communications indicates potential violations at a whopping 70% of the information reviewed. FINRA has not identified any firms that may be providing information that is in… Read More

January 23, 2024 @ 12:22 pm By JD Alois  |  

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Alexander Ermakov for the 2022 ransomware attack against Medibank Private Limited, an Australian insurer. The US worked in concert with Australia and the United Kingdom on the designation. Ermakov is believed… Read More

January 23, 2024 @ 11:48 am By JD Alois  |  

  Seedrs, part of the US-based Republic, is reportedly restructuring and slashing 15% of its employees operating in Europe. Seedrs was acquired by Republic in 2021 in a deal valued at $100 million. The deal closed the following year. The combined operation is one of… Read More

January 23, 2024 @ 10:50 am By JD Alois  |  

SeedBlink is an emerging investment crowdfunding platform that is registered with the Romanian Financial Supervisory Authority and also approved under the new European Crowdfunding Service Providers Regulation (ECSPR) and thus allowed to issue securities across the EU. Under ECSPR, an issuer may raise up to… Read More

January 23, 2024 @ 9:25 am By JD Alois  |  

Financial penalties assessed by financial regulators in the US have jumped by 69% versus the year prior when comparing 2023 to 2023, according to a report.Fenergo, a Client Lifecycle Management (CLM) firm serving financial services, has tallied the numbers and claims that penalties stood at… Read More

January 22, 2024 @ 9:46 pm By JD Alois  |  

Online lender LendInvest Mortgages (AIM:LINV) says it will offer two new products: House Flip Bridge and Landlord Refurb Bridge. Both products aim to boost lending activity while providing borrowers the agility and speed they need to acquire and quickly flip homes. Both products are 85% LTV,… Read More

January 22, 2024 @ 5:23 pm By JD Alois  |  

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed a fifth round of sanctions on Hamas since the October 7 terrorist attack on Israel. According to OFAC, the sanctions have targeted Hamas-affiliated financial exchanges in Gaza, their owners and associates,… Read More

January 22, 2024 @ 2:42 pm By JD Alois  |  

Online lender ThinCats has received more funding from Fintex Capital. This is financed by Fintex Specialty Finance UK, the firm’s flagship discretionary investment fund. According to a note from the firm, Fintex has added to an existing mezzanine facility with ThinCats. Fintex has added £5… Read More

January 22, 2024 @ 12:35 pm By JD Alois  |  

loanDepot (NYSE: LDI), a top mortgage issuer and originator in the US, remains under attack following an incident revealed on January 8th. Today, loanDepot states that records, including sensitive personal information, have been accessed by bad actors, including 16.6 million individuals. loanDepot states that it… Read More

January 22, 2024 @ 9:36 am By JD Alois  |  

  The British Business Bank says its Recovery Loan Scheme (RLS) has supported £1 billion of finance offers to smaller businesses since its launch in August 2022. Launched in 2014, the British Business Bank is the UK government’s economic development bank. The Recovery Loan Scheme… Read More

January 22, 2024 @ 9:23 am By JD Alois  |  

Spectrum Markets has become a member of the  German Federal Association of Investment Firms (Bundesverband der Wertpapierfirmen (bwf)) Spectrum Markets is a wholly owned subsidiary of the IG Group (LSEG: IGG). Regulated by BaFin, the company is a pan-European trading venue for securitized derivatives aimed… Read More

January 19, 2024 @ 4:46 pm By JD Alois  |  

Donald Trump touched on the topic of Central Bank Digital Currency (CBDCs) recently, and he is no fan of the concept. A digital dollar is being discussed at the US Federal Reserve and on  Capitol Hill in general. The Fed has been partnering with MIT… Read More

January 19, 2024 @ 11:31 am By JD Alois  |  

In the ongoing push to offer smaller investors greater access to assets typically reserved for the wealthy, Seedrs has announced it will be offering Venture Capital Trusts (VCTs). VCTs are closed-end fund-like vehicles that invest in private firms. VCTs trade on the London Stock Exchange…. Read More

January 19, 2024 @ 10:14 am By JD Alois  |  

The Moroccan Capital Markets Authority (AMMC) has published a new guide on crowdfunding. The guide is to help market participants understand the regulatory and legal requirements to operate under the new framework. According to the AMMC: “The new handbook presents a summary of the main… Read More

January 19, 2024 @ 9:12 am By JD Alois  |  

While London remains the top European financial center, Brexit has put pressure on this status. This has created opportunities for other European financial centers, but the question remains: do they have the capacity and ability to act and gain traction? Today, the Autorité des Marchés… Read More

January 18, 2024 @ 6:48 pm By JD Alois  |  

The European Banking Authority (EBA) has shared its guidance on money laundering (ML) and terrorist financing (TF) for crypto asset service providers (CASPs). All banks must adhere to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) rules, and crypto firms are no different. The… Read More

January 18, 2024 @ 1:19 pm By JD Alois  |  

  The Cambridge Centre for Alternative Finance (CCAF) was at Davos, Switzerland, today to present their latest findings on the Fintech revolution at the World Economic Forum.  The Future of Global Fintech: Towards Resilient and Inclusive Growth was published this month and introduced today, outlining… Read More

January 18, 2024 @ 11:36 am By JD Alois  |  

The Canadian Securities Administrators (CSA) have issued a call for comment on proposed regulations for funds that invest in crypto. CSA Notice and Request for Comment – Proposed Amendments to National Instrument 81-102 Investment Funds Pertaining to Crypto Assets is available on all of the… Read More