December 18, 2024 @ 10:03 am By JD Alois  |  

The UK Payment Systems Regulator (PSR) has published a report on Authorized Push Payment (APP) scams and how to avoid them. In brief, a fraudster pilfers money illicitly when it tricks targets into sending money to its account. The trick is presenting what looks like… Read More

December 17, 2024 @ 6:06 pm By JD Alois  |  

Last week, ServiceTitan (NASDAQ:TTAN) went public at an IPO price of $71/share. Trading soon drove the price per share much higher. Today, ServiceTitan closed at over $108 a share (over $110 in after-hours trading). This also follows the exercise of the Greenshoe option by underwriters…. Read More

December 17, 2024 @ 4:43 pm By JD Alois  |  

The SEC Office of the Advocate for Small Business Capital Formation has published its annual report which includes data on access to capital as well as policy recommendations. The Office is relatively new, created under the SEC Small Business Advocate Act of 2016 – legislation… Read More

December 17, 2024 @ 12:42 pm By JD Alois  |  

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against two individuals and a single entity regarding money laundering to the benefit of North Korea. OFAC says that Lu Huaying and Zhang Jian, working out of the UAE and… Read More

December 17, 2024 @ 11:00 am By JD Alois  |  

Morgan Stanley (NYSE:MS) has decided to partner with Wise (LSE:WISE) to improve international transfers. Wise is a UK-based Fintech or neobank that started as a low-cost provider of payments and transfers and now offers additional banking features. Morgan Stanley is a prominent investment bank and… Read More

December 17, 2024 @ 10:30 am By JD Alois  |  

Webull Securities (Canada) says it has launched options trading for registered accounts in Canada. Webull users can now trade options in Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs). The Webull Group currently operates in 15 regions globally, including Canada, serving over 20… Read More

December 16, 2024 @ 12:40 pm By JD Alois  |  

OurCrowd revealed a new VC investment center in Abu Dhabi to manage deals for its platform while expanding its market back in late 2022.  At the same time, the investment platform announced an AI hub named Integrated Data Intelligence Ltd (IDI), which seeks to develop… Read More

December 16, 2024 @ 11:14 am By JD Alois  |  

Everyone knows the definition of an Accredited Investor is broken. The rule sets a monetary hurdle for individuals who may participate in certain private securities offerings. It is obvious to all that wealth is not necessarily an indicator of sophistication. Still, the SEC has failed… Read More

December 16, 2024 @ 10:19 am By JD Alois  |  

The Committee on the Judiciary and the Select Subcommittee on the Weaponization of the Federal Government issued its interim report this month outlining the abuse of financial data by the federal government. Whether you are a Republican or Democrat, you should be outraged by this… Read More

December 16, 2024 @ 9:47 am By JD Alois  |  

Last week, Gen Digital (NASDAQ: GEN) announced that it would acquire MoneyLion (NYSE: ML) for around $1 billion. Gen Digital is a software firm in the cyber sector with a market cap of around $18.26 billion. A neobank, MoneyLion, went public in a SPAC deal in September… Read More

December 16, 2024 @ 9:11 am By JD Alois  |  

Bitcoin continues to march higher following the election of former President Donald Trump and his forthcoming crypto-friendly administration. It was only a year ago when Bitcoin was trading around $40,000. This week, Bitcoin topped $106,000, setting a new all-time high for the world’s most popular… Read More

December 15, 2024 @ 12:15 pm By JD Alois  |  

StartEngine, a full stack securities crowdfunding platform, is raising money for itself on its own platform. One of the key selling points to invest in the platform is its private deal room or StartEngine Private where investors can purchase securities in Reg D offerings. Typcially… Read More

December 13, 2024 @ 11:56 am By JD Alois  |  

Elon Musk, founder and CEO of multiple firms including Tesla and SpaceX, has leveraged X, another one of his companies, to lambast outgoing SEC Chairman Gary Gensler.   Oh Gary, how could you do this to me? 🥹 pic.twitter.com/OoooQI77ZS — Elon Musk (@elonmusk) December 12,… Read More

December 13, 2024 @ 11:31 am By JD Alois  |  

The initial coin offering (ICO) era came to a screeching halt following a statement made by the Securities and Exchange Commission that effectively told issuers to halt the process. During the wild and crazy days of ICOs, millions or billions were both made and lost…. Read More

December 13, 2024 @ 11:17 am By JD Alois  |  

Yesterday, the Securities and Exchange Commission charged Cantor Fitzgerald, LP, and two Special Purpose Acquisition companies (SPACs) it controlled with “making misleading statements to investors ahead of their initial public offerings (IPOs).” SPACs are companies that go public with the intent to acquire a private… Read More

December 13, 2024 @ 9:25 am By JD Alois  |  

The Consumer Bankers Association (CBA), American Bankers Association (ABA), America’s Credit Unions, Mississippi Bankers Association, and other individual banks have joined in a lawsuit challenging the final rules issued by the Consumer Financial Protection Bureau impacting overdraft regulations. Yesterday, the CFPB issued rules that manage… Read More

December 13, 2024 @ 9:09 am By JD Alois  |  

BNPL provider Affirm (NASDAQ: AFRM) has inked a deal with Sixth Street where the investment firm will commit $4 billion to loans originated by Affirm. This “long-term capital partnership” is expected to ramp up over three years. Affirm says this is the largest capital commitment… Read More

December 12, 2024 @ 4:51 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has announced a final rule that addresses the overdraft system for consumers who need credit beyond an existing balance. The new rule allows large banks several options for overdrafts: They can choose to charge $5; To offer overdraft as… Read More

December 12, 2024 @ 4:11 pm By JD Alois  |  

Representative French Hill is slated to take over the powerful House Financial Services Committee following the exit of popular Chairman Patrick McHenry. Multiple news outlets are reporting the selection of Hill, who has edged out several others interested in the chairman position. The Digital Chamber… Read More

December 12, 2024 @ 1:58 pm By JD Alois  |  

Almond Fintech has been recognized for its B2B payment platform that leverages blockchain technology. According to a not from the firm,the CrossTech Innovation Awards has selected Almond to receive its 2024 Crypto Payments Solution in the Cross-Border Industry. This is the second year in a… Read More