Politics, Legal & Regulation

February 24, 2025 @ 11:03 am By JD Alois  |  

The State of Virginia is considering legislation designed to limit the interest charged on credit to consumers. The Federal government is also reviewing a similar approach to credit cards, but once again, policymakers are looking to apply price-fixing to a market driven by supply and… Read More

February 24, 2025 @ 7:28 am By Omar Faridi  |  

In a speech delivered on February 21, 2025, at the European Parliament plenary debate on the ECB Annual Report, ECB President Christine Lagarde provided an update on the euro area’s economic situation and the European Central Bank’s monetary policy direction. The address from Christine Lagarde… Read More

February 23, 2025 @ 11:59 pm By Omar Faridi  |  

In a step toward enhancing public sector payments, the UK government has reportedly opened bidding for a £49 million contract to embed open banking technology into its Gov.UK Pay platform. Announced on February 19, 2025, by the Government Digital Service (GDS), this procurement initiative aims… Read More

February 23, 2025 @ 5:18 pm By Michael Wong  |  

The Philippines has been removed from the Financial Action Task Force’s (FATF) grey list after more than three years, following significant progress in strengthening its anti-money laundering and counter-terrorism financing (AML/CTF) framework, the global financial watchdog said. The FATF, which monitors global efforts to combat… Read More

February 23, 2025 @ 5:17 pm By Omar Faridi  |  

The UK’s Competition and Markets Authority (CMA) has imposed a hefty £104.5 million fine on four global banking giants—Citi, HSBC, Morgan Stanley, and the Royal Bank of Canada (RBC)—for “illegally” sharing sensitive details regarding UK government bonds, known as gilts, between 2009 and 2013. Unveiled… Read More

February 21, 2025 @ 3:28 pm By Omar Faridi  |  

Canada’s economy appears to be at a crossroads with its unique set of challenges, and Stephen Poloz, former Governor of the Bank of Canada, has expressed concerns. In a speech delivered on February 5, 2025, at the Canadian Club Toronto, Poloz emphasized the fragile and… Read More

February 21, 2025 @ 12:14 pm By JD Alois  |  

The House Financial Services Committee has announced a series of hearings covering a litany of issues and topics. As the Committee is currently controlled by Republicans, the tendency is to be more supportive of innovation and access to opportunity – especially for retail investors and… Read More

February 21, 2025 @ 11:28 am By JD Alois  |  

Coinbase (NASDAQ:COIN) is reporting that the Securities and Exchange Commission (SEC) is poised to drop all charges leveled at the digital asset platform, contingent upon the approval of a majority of Commissioners. As Republicans now control the Commission, this should be little more than a… Read More

February 21, 2025 @ 9:29 am By JD Alois  |  

In January 2024, the then Chairman of the Securities and Exchange Commission (SEC) had his X account hacked. The individual who commandeered the account used his access to announce the approval of Bitcoin ETFs, impersonating Chair Gary Gensler – one day before the SEC intended… Read More

February 20, 2025 @ 4:18 pm By JD Alois  |  

The Accredited Investor definition is one of the most obtuse rules enforced by the Securities and Exchange Commission. In place for decades, the rule defines who can participate in certain private securities offerings. Broadly speaking, an individual is deemed Accredited if they earn over $200,000… Read More

February 20, 2025 @ 1:17 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has created a new Cyber and Emerging Technologies Unit (CETU). This new entity aims to protect investors from bad actors utilizing technology to commit fraud and replaces the previous Crypto Assets and Cyber Unit. CETU will be led by… Read More

February 20, 2025 @ 12:14 pm By JD Alois  |  

In an address to the European Parliament, Olli Rehn, First Vice-Chair of the European Systemic Risk Board and Governor of the Bank of Finland, voiced his concerns regarding policy changes in the US as the Trump Administration takes over the federal bureaucracy, including financial regulators…. Read More

February 20, 2025 @ 9:44 am By JD Alois  |  

DOGE or the Department of Government Efficiency, has been running through the various federal bureaucracies looking for fat to cut and employees to eliminate. While there has been much hand-wringing from opposition Democrats and individuals impacted, the majority of the US is supporting the move… Read More

February 20, 2025 @ 8:40 am By Omar Faridi  |  

On January 27, 2025, the European Central Bank (ECB) adopted Decision (EU) 2025/222, titled “Decision of the European Central Bank on access by non-bank payment service providers to Eurosystem central bank operated payment systems and central bank accounts” (ECB/2025/2). This decision expands access to Eurosystem… Read More

February 19, 2025 @ 8:05 pm By JD Alois  |  

The Small Business and Entrepreneurship Council (SBE Council) is concerned about the Trump Administration’s policy of keeping its predecessor merger guidelines. In a public statement, the SBE Council said that “arbitrary and muddy guidelines”  pursued by the Federal Trade Commission (FTC) harm opportunities for early-stage firms… Read More

February 19, 2025 @ 5:23 pm By Omar Faridi  |  

Donald Trump’s first 30 days of his second term as President of the United States have been quite eventful. To mark the occasion, Saxo Bank spoke to Trump’s former Communications Director, Anthony Scaramucci, to get his take on Trump’s first month. Scaramucci is probably best known for… Read More

February 19, 2025 @ 5:10 pm By Omar Faridi  |  

Daniel Gorfine, Founder & CEO, Gattaca Horizons LLC, is pleased to join J. Christopher Giancarlo and Brian Peters in co-authoring a piece in the Milken Institute Review that makes the case for payments modernization in the U.S. As noted in the paper, over the past… Read More

February 19, 2025 @ 1:26 pm By JD Alois  |  

VC math, or valuations of private firms, has long been more of an art than a science. The friction between investors and firms raising capital is well known. Too low, and money is left on the table. Too high and a future down round, or… Read More

February 19, 2025 @ 12:47 pm By JD Alois  |  

The UK Financial Conduct  Authority (FCA) and Payment Systems Regulator (PSR) have published a statement on the rise and usage of digital wallets. The two regulators note that the use of digital wallets has grown in recent years, with card transactions using a digital wallet… Read More

February 17, 2025 @ 11:03 am By JD Alois  |  

The Securities and Exchange Commission has posted a request for candidates interested in serving on the SEC’s Investor Advisory Committee (IAC). The IAC was the creation of the Dodd-Frank Act and aims to support individual investors by providing guidance to the Commission. In the posting,… Read More