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Payments

Tokenisation of Money: BIS Analyses Challenges and Opportunities for Central Banks

  • The report notes tokenisation's benefits, such as lower costs and faster processing, alongside risks.
  • The BIS outlines four key considerations for central banks on tokenisation initiatives.
Monday, 21/10/2024 | 16:47 GMT by Tareq Sikder
CryptoCurrency

California Just Taught Robinhood a $3.9 Million Lesson. Here's Why

  • Robinhood Crypto agrees to settlement in the US over past withdrawal restrictions.
  • The company must now allow crypto withdrawals and update its disclosures.
Thursday, 05/09/2024 | 07:26 GMT by Damian Chmiel
FinTech

Visa and Mastercard Settlement: Merchants Get Extra Time to Claim $5.5 Billion

  • The new claim deadline for the Visa and Mastercard settlement is February 2025.
  • It covers US businesses accepting Visa or Mastercard from January 1, 2004, to January 25, 2019.
Monday, 19/08/2024 | 17:00 GMT by Tareq Sikder
Institutional FX

Wall Street Investment Bank Hit With $16 Million Fine in SEC Messaging Probe

  • Piper Sandler settles investigations into unapproved business communications.
  • The company joins a growing list of financial firms penalized for record-keeping failures.
Wednesday, 07/08/2024 | 07:16 GMT by Damian Chmiel
CryptoCurrency

FTX and CFTC Settle 19-Month Lawsuit for $12.7 Billion, Pending Court Approval

  • The settlement includes $8.7 billion in restitution and $4 billion in disgorgement.
  • The CFTC did not seek a civil penalty because FTX already faces significant liability.
Wednesday, 17/07/2024 | 08:52 GMT by Tareq Sikder
Payments

What the Rejection of the Visa and Mastercard Settlement Signals for the Payments Industry

  • 5 key takeaways from Judge's denial of $30B Visa and Mastercard deal.
  • Swipe fee settlement rejected: A new era of scrutiny in the payments industry.
Wednesday, 03/07/2024 | 15:16 GMT by Pedro Ferreira
Institutional FX

Project Meridian: FX Institutions Join Forces to Tackle Settlement Challenges

  • The joint initiative explores interoperability between RTGS systems and DLT platforms.
  • Meridian FX aims to enhance efficiency and innovation in wholesale payments.
Monday, 17/06/2024 | 09:09 GMT by Damian Chmiel
Retail FX

TradeZero America to Pay $250,000 in FINRA Settlement over Influencer Marketing Missteps

  • The regulator identified wrongdoings related to social media influencer promotions.
  • The firm has agreed to the sanctions and has revised its supervisory procedures.
Tuesday, 11/06/2024 | 07:20 GMT by Damian Chmiel
Retail FX

Robinhood Moves to Put Meme Stock Controversy to Rest

  • The company is close to settling a lawsuit regarding the retail trading mania from 2021.
  • Brokerage was accused of market manipulation by restricting trading in stocks like GameStop.
Thursday, 30/05/2024 | 06:46 GMT by Damian Chmiel
Retail FX

Sigma Broking Settles NFA Complaint, Agrees to $150K Fine

  • The introducing broker violated NFA rules related to anti-money laundering audits and supervision.
  • Sigma neither admitted nor denied the allegations.
Wednesday, 29/05/2024 | 07:08 GMT by Damian Chmiel
CryptoCurrency

Genesis Hits the Wall with $2 Billion Settlement, Shown the Door in New York

  • New York AG Letitia James secures settlement to aid 29,000 defrauded investors.
  • The AG pursues crypto oversight, having obtained $2.5 billion from various platforms so far.
Monday, 20/05/2024 | 19:28 GMT by Tareq Sikder
Institutional FX

Wall Street Will Transform Next Week: T+1 Settlement Begins

  • The transition will take place next Tuesday, May 28.
  • Financial institutions and stock exchanges are preparing for the change, which may bring new risks.
Monday, 20/05/2024 | 09:38 GMT by Damian Chmiel
Payments

Why Retailer Fury Over Swipe Fee Settlement Could Spark a Credit Card Revolution

  • A look into the fight for the future of credit cards.
Tuesday, 30/04/2024 | 16:00 GMT by Pedro Ferreira
Retail FX

CySEC Reaches €50,000 Settlement with Local Company for Potential Violations

  • Noteris Services Ltd settles with the regulator after a 6-month-long inspection.
  • The issue concerns the lack of necessary authorizations to operate.
Tuesday, 02/04/2024 | 09:49 GMT by Damian Chmiel
Payments

A Truce in the Swipe War: How Visa and Mastercard Settlements Could Reshape Payments

  • Will these fee reductions translate into lower prices for consumers?
Wednesday, 27/03/2024 | 16:00 GMT by Pedro Ferreira
CryptoCurrency

Crypto Exchange OKX Pays €304,000 Fine in Malta for Compliance Failures

  • Okcoin Europe, the crypto exchange's local branch, settled with the MFSA.
  • The regulator considered the exchange's "goodwill" when imposing the fine.
Wednesday, 27/03/2024 | 10:34 GMT by Damian Chmiel
Retail FX

Ex-Director at LCF Hit with FCA Ban for Misleading Investors

  • The British market watchdog fined Floris Huisamen £31,800.
  • His company was accused of presenting misleading financial promotions, causing investor losses.
Tuesday, 13/02/2024 | 10:03 GMT by Damian Chmiel
Retail FX

MetaTrader Plugins Developer Reaches €60,000 Settlement with CySEC

  • CySEC has announced a settlement with ISPASS Technologies.
  • The company offers MetaTrader's integration and trading plugins development.
Tuesday, 29/08/2023 | 08:01 GMT by Damian Chmiel
CryptoCurrency

FTX Updates Settlement Terms for 'Small Estate Claims' after US Trustee's Disapproval

  • The exchange criticized the US Trustee for objecting to the settlement.
  • Meanwhile, FTX and Genesis recently agreed to a payment of $175 million to resolve their dispute.
Monday, 21/08/2023 | 13:35 GMT by Solomon Oladipupo
Retail FX

Freedom Finance Pays €50K to CySEC over ‘Potential’ AML Non-Compliance

  • The firm operates the brands Freedom Finance, Freedom Broker and Freedom 24.
  • CySEC announced €100K settlement with BCS Cyprus on Wednesday.
Thursday, 13/07/2023 | 13:36 GMT by Solomon Oladipupo
Institutional FX

CySEC Reaches €100k Settlement with Institutional Broker BCS Cyprus

  • The regulator probed BCS's compliance with market abuse rules between 2019 and 2021.
  • CySEC has withdrawn at least five CIF licenses since the start of 2023.
Wednesday, 12/07/2023 | 18:07 GMT by Solomon Oladipupo
Retail FX

iS Prime and ThinkMarkets Settle Exclusivity Dispute on Court Trial Day

  • The dispute dates back to iS Prime's acquisition of ThinkMarkets' arm in 2017.
  • iS Prime said it demanded a retraction from ThinkMarkets.
Wednesday, 10/05/2023 | 19:32 GMT by Solomon Oladipupo
Institutional FX

90% of Market Participants See Elevated Risk in Moving to T+1 Settlements

  • The US decided to move from T+2 to T+1 settlements in May 2023.
  • According to the UK's market players, it may increase the risk of trade failures and penalties.
Thursday, 23/03/2023 | 09:06 GMT by Damian Chmiel
Institutional FX

US Regulator Adopts Rules to Enforce Single-Day Securities Settlement

  • The SEC sets May 28, 2024, as the compliance date.
  • The securities regulator started enforcing the current T+2 cycle in 2017.
Wednesday, 15/02/2023 | 20:50 GMT by Solomon Oladipupo
Retail FX

After 6 Years Global Brokerage Settles for $6.5m in Class Action

  • Global Brokerage's case against its former investors began in 2017.
  • After six years, the brokerage decided to settle for 37% of the potential damage suffered by traders.
Monday, 06/02/2023 | 12:06 GMT by Damian Chmiel
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