General News

July 24, 2023 @ 11:25 pm By Omar Faridi  |  

Providing easy access to essential ESG reporting standards enables auditors “to provide assurance over ESG reporting.” Wolters Kluwer Corporate Performance & ESG (CP & ESG) (EURONEXT: WKL) has “added ESG standards, tailored to support Internal Audit workflow and practices, to its cloud-based TeamMate+ global audit… Read More

July 24, 2023 @ 4:36 pm By Omar Faridi  |  

Transaction volumes across US supply chains grew at their fastest pace in more than two years as domestic trade activity showed renewed signs of resilience following a recent slump, according to an update from TradeShift. Data from Tradeshift’s Q2 Index of Global Trade Health shows… Read More

July 24, 2023 @ 12:23 pm By JD Alois  |  

The Prudential Regulation Authority (PRA), part of the Bank of England, has assessed a “record fine” on Credit Suisse due to its exposure to Archegos Capital Management. Archegos collapsed spectacularly in 2022 leaving losses of billions of dollars. The failure has led to both criminal… Read More

July 24, 2023 @ 10:42 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) published final guidance on the new Consumer Duty initiative last year. Firms are expected to implement the requirements by the end of this month. Consumer Duty sets a “standard of care” for financial services firms in retail markets aiming… Read More

July 24, 2023 @ 8:37 am By Omar Faridi  |  

Mediobanca Group, Italy’s largest investment bank, has signed a partnership with Founders Factory, the London-based global company builder and early-stage investor, to launch a new fintech venture studio and accelerator. This joint venture, underpinned by an overall €12 million investment from Mediobanca, will facilitate innovation… Read More

July 23, 2023 @ 6:37 am By Omar Faridi  |  

Institutional Shareholder Services Inc. (ISS), a provider of corporate governance and sustainable investment solutions to financial market participants, launched ISS Exchange, a streamlined, mobile-friendly voting solution, “to augment its Global Proxy Distribution (GPD) offering.” ISS Exchange is the latest in ISS’ suite of outsourced solutions… Read More

July 22, 2023 @ 6:47 pm By Omar Faridi  |  

Rapyd, the global Fintech-as-a-Service provider, today announced the appointment of Dr. Shlomit Wagman, former Director-General of the Israel Money Laundering and Terror Financing Prohibition Authority (IMPA), Head of the Israeli Delegation to the FATF, Chair of the FATF operational working group, and a Harvard-affiliated scholar,… Read More

July 22, 2023 @ 5:50 pm By Omar Faridi  |  

Snapsheet, which claims to be an industry leader specializing in claims management technology, today announced a strategic investment from State Farm Ventures. Through its innovative platform, Snapsheet streamlines and “expedites the claims process, providing insurers and policyholders with a seamless, user-friendly experience.” Snapsheet offers “a… Read More

July 21, 2023 @ 9:33 pm By Omar Faridi  |  

Channel Capital Advisors LLP has hired Nate Hartley as its new Head of Origination for the Americas. Established in 2007, Channel is an FCA-regulated alternative investment fund manager (AIFM). It is a recognized funding partner of choice in “the working capital and fintech lending sector,… Read More

July 20, 2023 @ 5:37 pm By JD Alois  |  

Puerto Rico is unique in the fact it is part of the United States yet residence do not pay any federal taxes. It is part of the concept of taxation without representation and Puerto Rico does not have any voting members in Congress. This fact,… Read More

July 19, 2023 @ 9:31 am By Omar Faridi  |  

Bowmark Capital, the mid-market private equity firm, has invested significantly in Lendscape, a technology provider to the global secured commercial finance market. The company’s software and technology “underpin the secured lending offerings of over 120 banks and financial institutions worldwide.” Its platform supports the management… Read More

July 19, 2023 @ 8:19 am By JD Alois  |  

Goldman Sachs (NYSE:GS) has reported Q2 2023 earnings, and it’s a bit of a mixed bag. Goldman surpassed expectations for top-line revenue generating $10.9 billion on a predicted $10.61 billion. Net revenue disappointed as Goldman generated an earnings per share of $3.08, with analysts anticipating… Read More

July 18, 2023 @ 7:17 pm By JD Alois  |  

SPACs, or special purpose acquisition companies, are at a four-year low for initial public offerings (IPOs), according to S&P Global Market Intelligence. SPACs hit a quarterly high in the number of offerings in Q1 of 2021. For deal amounts, SPACs topped $92 billion that same… Read More

July 17, 2023 @ 10:47 pm By Omar Faridi  |  

Every quarter, Carta releases information on the startup ecosystem in their State of Private Markets report. It can take a few weeks for rounds to be recorded on their platform, so they produce a full analysis after they get the final numbers. However, Carta publishes… Read More

July 17, 2023 @ 8:38 pm By Omar Faridi  |  

The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – recently released a consultation document on its proposal to introduce a new standard condition for certain financial market license holders. The new license condition will “focus on business continuity and technology systems.” Operationally resilient… Read More

July 17, 2023 @ 7:55 am By Omar Faridi  |  

A report from FX-as-a-Service pioneer, MillTechFX, has revealed that many corporates in North America are looking to diversify their FX counterparties after the recent banking crisis highlighted the potential risks associated with having only one or two banking partners. The report entitled ‘The MillTechFX North… Read More

July 17, 2023 @ 5:22 am By Omar Faridi  |  

Finery Markets has announced the appointment of Stanislav Bublik as the company’s new Chief Product Officer, as part of an ongoing investment in the company’s senior leadership team. Stanislav joins Finery Markets after an impressive tenure “as the Head of Trading Products at Exness, one… Read More

July 17, 2023 @ 4:22 am By Omar Faridi  |  

Global Brain Corporation, Sumitomo Mitsui Banking Corporation (SMBC), and SMBC Venture Capital Management Co., Ltd. will jointly establish JPY 30 billion “SMBC-GB Growth Fund” in order “to enhance its capabilities to invest in promising startups that will underpin future economic growth in Japan.” While many… Read More

July 16, 2023 @ 12:45 pm By Tony Zerucha  |  

A new report from the United Kingdom-based The Payments Association suggests the area’s burgeoning Fintech sector can play a key part in helping folks emerge from poverty. Navigating the rising cost-of-living: Payments innovation as a game-changer analyzes the cost-of-living crisis and poverty premium in the… Read More

July 16, 2023 @ 11:46 am By Omar Faridi  |  

BitMEX, which claims to again have become the world’s “leading” crypto derivatives exchange, introduces a new concept in social trading for professional traders, Guilds . Currently in βeta (testing), Guilds is accessible “to all BitMEX users – new, existing and returning, offering them the opportunity… Read More