Financial Services Financial News

'We expect businesses including social media platforms, app stores, search engines, domain name registrars and payments firms to consider the alerts we have issued and play their part in protecting UK consumers from illegal promotions.'

This would add to the potential equity and debt raising that is being targeted by the bank in order to refinance a £350m MREL debt due next year.

The Abu Dhabi Global Market (ADGM) has granted Laser Digital, the digital assets arm of Japan’s Nomura Bank, in-principal approval to provide broker-dealer services and asset/fund management services with both digital and traditional assets, according to an ADGM communication on Sept. 26. 

'This guidance will help ensure firms can take decisive and appropriate action against employees for [non-financial misconduct].'

The FCA is due to reveal its findings today (19 September).

The crypto industry is far too focused on token prices, rather than figuring out how smart contracts can be used to solve real-world business problems, according to Google Cloud's Web3 lead. 

A chorus of disapproval rang out from the halls of the United States Congress on Sept. 14 as the House of Representatives Financial Services Committee digital assets subcommittee held a hearing on the “digital dollar dilemma.” Five expert witnesses were scheduled to testify at the hearing, and all of them argued against creating a U.S. central bank digital currency (CBDC), otherwise known as a digital dollar.

'By introducing these new checks, we will ensure people approving adverts have the right skills and understanding they need to do so.'

The regulations are intended to bring euro-denominated interest rate swaps from the London Stock Exchange, which holds over a 90% market share on clearing them.

In a statement, Angehrn cited the “high and permanent stress” that came with the role, which he said had led to health consequences.

'The SEC has overstepped its statutory authority and core legislative mandate, leaving us no choice but to litigate,' argued MFA president and CEO Bryan Corbett.

'The reform should contribute significantly to protecting the financial centre from funds of criminal origin, and to strengthening Switzerland as a business location.'

The FCA argued it is the more appropriate body to remedy the issues of the wholesale data market

According to the FCA Register, the requirements became effective from 16 August.

The Federal Reserve is seemingly running interference with congressional efforts to regulate stablecoins, according to a letter recently sent to Fed Chairman Jerome Powell. The letter came from Chairman of the U.S. House of Representatives Financial Services Committee Patrick McHenry and subcommittee chairs French Hill and Bill Huizenga.

BaFin added that the firm appeared to be providing financial and investment services in Germany without the required authorisation.

Around one in three United States investors would be open to following AI-generated financial advice without verifying it with another source, according to a recent survey.

The Cayman Islands has long been an idyllic beach getaway for tourists, but the archipelago could soon welcome Bitcoin (BTC) holders as new residents through BTC-backed loans used to invest in real estate.

Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. PayPal this month said it was launching PayPal USD, a crypto token pegged to the U.S. dollar, making it the second major global company to launch a stablecoin after Facebook, now Meta Platforms, unveiled Libra in June 2019. The move, which comes as PayPal transitions to a new CEO announced last week, seems risky after Facebook's stablecoin was crushed by political opposition, and as regulators home in on the crypto sector following several meltdowns. But PayPal is in a stronger position than Facebook, said former officials, executives and analysts. Policymakers are more familiar with stablecoins, crypto tokens typically pegged to a fiat currency, than they were in 2019. A push to create federal stablecoin regulations has also helped boost their legitimacy in the eyes of lawmakers.

Coming into force on 1 September, the UK rule applies even when crypto companies use third-party suppliers.

The Financial Conduct Authority