FinTech Futures: Top five stories of the week – 12 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
SEC
SEC fines HSBC and Scotia Capital over recordkeeping failures
HSBC Securities and Scotia Capital have agreed to pay penalties of $15 million and $7.5 million respectively.
Crypto exchange Bittrex files for bankruptcy protection in the US
The move comes just weeks after the firm announced it would be shutting down operations in the US.
UBS pays $8m to settle SEC compliance charges
US regulator found failings in the bank’s handling of exchange-traded products.
FINRA orders Robinhood to pay $70m penalty for “false and misleading information”
The sanction is the largest financial penalty issued by the regulator.
The SEC confirms appointment of Gary Gensler as new chair
Gensler joins as the Democrats gain a majority among the commissioners of the US Securities and Exchange Commission.
SEC launches voluntary inquiry into US Spac craze
This year alone has birthed eight lawsuits against US Spac deals.
GameStop trader Deep F—ing Value, a licensed broker, sued for “fake persona”
The lawsuit accuses Gill of “deceitful and manipulative conduct”.
Robinhood faces SEC probe over deal disclosure
US brokerage unicorn in hot water over order flow dealings.
Nasdaq proposes IPO alternative to raise funds
Nasdaq’s proposal to the SEC pushes for alternative routes to the public markets.
US regulators relax Volcker Rule restrictions
Major US banks allowed to unlock wider range of investment options.
US regulators sign up to Global Financial Innovation Network
The CFTC, FDIC, OCC and SEC are all on board.
Video: fintech news weekly round-up – 11 February 2019
Challengers Starling and Revolut, Tink, and the importance of digital assets.
CoinAlpha fined $500k for crypto law breach
Blockchain protocol also gets a cease and desist from the US regulator.
AriseBank execs fined $2.5m over ICO scam
US Securities and Exchange Commission lays down the law yet again.
I’m a celebrity… get my ICO out of here!
US Securities and Exchange Commission makes two people in/famous.
US regulator plays hardball over ICO securities
Yo fintech! Don’t mess with the Securities and Exchange Commission.
WB21 bank boss faces lawsuit by US regulator
WB21 bank boss faces lawsuit by US regulator
US regulator lures crypto fools with fake ICO site
HoweyCoins might look real, but it isn’t.
Centra Tech founders arrested and charged with fraud
Three out of the four charges carry a maximum sentence of 20 years.
SEC charges Mozido founder with investment fraud
Michael Liberty and “friends” took some real liberties with the cash.
Top ten Bitcoin stories in 2017
Bitcoin was buzzing all year along.
SEC beefs up surveillance as Barclays probe results in $72 million fine
The Securities and Exchange Commission has stepped up its drive to monitor and enforce the financial markets by implementing new surveillance tools to examine and inspect reconciliations. The deal comes as the US regulator charges Barclays with failing to build adequate compliance systems and the bank suffers a fine in the UK.
Market surveillance: a watching brief
The US Securities & Exchange Commission is often accused of using skateboards to chase Ferraris in its attempts to keep up with trading houses, but less than a year after announcing that it intended to create a new market surveillance system – and six months after going live with it – its cloud-based approach is […]
Washington watchdog raps regulators over Dodd-Frank rule-making
US financial services regulators have not properly evaluated the impact of rules they have proposed or introduced in implementing the Dodd-Frank Act, and should improve their co-ordination says a critical report from a congressional watchdog.
