Argo Blockchain Welcomes New CEO

Argo Blockchain PLC has appointed Thomas Chippas as its new Chief Executive Officer. With an extensive background in digital assets and financial services, Chippas brings a wealth of experience to Argo, having held notable positions at CBOE Digital, Citadel Technology LLC, and several major banks.

"Tom is a proven technology and financial leader who will work with the Argo leadership team to drive operational excellence and stakeholder value," Matthew Shaw, the Chairman of Argo commented.

HIVE Digital Acquires Swedish Data Center

HIVE Digital Technologies Ltd. has announced the acquisition of a data center facility in Boden, Sweden. This move is part of HIVE's strategy to enhance its global presence and solidify its commitment to sustainable growth within the digital technology sector.

The acquisition, which includes the data center and the real property it is situated on, is expected to contribute to HIVE’s growth and bolster its emphasis on environmentally responsible operations. The deal involves a mix of cash and common shares, with completion contingent upon regulatory approvals.

“The new data center will enable HIVE to grow its regional footprint while further demonstrating its commitment to its ESG focus, sustainable practices, environmental responsibility, and energy efficiency with its newest 'green' energy powered data center,” Johanna Thornblad, the President of HIVE Sweden, commented.

Nomura Strengthens QIS Team with New Appointment

Nomura International plc has named Jérôme Brochard as the Global Head of QIS Structuring and EMEA Head of QIS Distribution. Brochard, a veteran with over 25 years of experience in the industry, joins from Credit Suisse and is tasked with leading Nomura’s Quantitative Investment Strategies development and distribution. His appointment is part of Nomura's strategic initiative to diversify its product offerings and enhance client engagement within the QIS domain.

"His extensive experience and expertise in quantitative investment strategies will position us well to diversify our capabilities and support greater client wallet capture,” John Goff, the Global Head of Structuring at Nomura, said.

BoE and FCA Reaffirm Effective Cooperation Framework

The Bank of England and the Financial Conduct Authority (FCA) have updated the status of their Memorandum of Understanding (MoU) related to the supervision of financial market infrastructures (FMIs). Following a consultation with FMIs in 2022, it was concluded that the MoU still stands as an effective framework for supervisory cooperation.

Both institutions highlighted the avoidance of unnecessary duplication and confirmed their ongoing commitment to improve cooperation, both domestically and internationally, to support market infrastructure.

FCA's Evaluation of IFPR Implementation

The FCA has published a final report on the review of investment firms' progress in implementing the Investment Firms Prudential Regime (IFPR), specifically focusing on the internal capital adequacy and risk assessment (ICARA) process. While most firms have successfully transitioned to the new regulations, the FCA pointed out areas that require further improvement.

These areas include group ICARA processes, internal intervention points, and assessments related to wind-down, liquidity , operational risk capital, and regulatory data submissions. The FCA urges firms to take immediate action to align with the findings to ensure compliance and to mitigate operational risks.

FCA Issues Warning against VentureXchange

In a separate update, the UK market watchdog has issued a warning about VentureXchange, a firm suspected of offering financial services without authorization in the UK. The FCA cautions against engaging with this firm and advises the public to be vigilant about scams.

VentureXchange is not authorized by the FCA and has been found to be using the name and registration number of a legitimate UK company, PIX POINT CONSULTING LTD, without any association. The FCA would like to remind consumers that engaging in unauthorized dealings may result in their exclusion from protections offered by organisations, such as the Financial Ombudsman Service or the Financial Services Compensation Scheme.

SPB Exchange Refutes Bankruptcy Claims amidst Sanctions

Russia's second-largest stock exchange, SPB Exchange, has denied rumors of filing for bankruptcy, which followed the imposition of U.S. sanctions leading to a trading suspension. Despite initial reports based on arbitration court filings, the exchange asserts it remains financially stable with no bankruptcy in sight.

The exchange's shares suffered a steep fall but saw a partial recovery as the trading day progressed. The lack of clarity on the court filings has raised concerns, with experts calling for a definitive explanation from SPB Exchange.