FINRA is taking aim at two companies known for crowdfunding. First, a definition of crowdfunding, courtesy of Investopedia: “Crowdfunding is the use of small amounts of capital from a large number of individuals to finance a new business venture. Crowdfunding makes use of … social media and crowdfunding websites to bring investors and entrepreneurs together,… Read More >>
Broadridge’s LTX Forms Buy-Side Advisory Group
Post-trade systems and services provider Broadridge Financial Solutions has formed a buy-side advisory group to advance its LTX electronic trading platform via improved liquidity, transparency and execution quality for buy-side traders working in corporate bonds, officials say. Launched in 2020, the LTX platform, which uses artificial intelligence (A.I.) technologies and the RFX trading protocol, targets… Read More >>
FTF Reveals the Winners of the 2022 FTF Awards
Financial Technologies Forum (FTF) is pleased to announce the winners of the 2022 FTF News Technology Innovation Awards competition and to confirm that there will be an in-person gala event later this year to celebrate the industry’s achievements in operational excellence. “I think it’s safe to say that it’s been a long two years. During… Read More >>
SEC Hires 20 Crypto Cops & Other News
SEC Adds to Crypto Assets and Cyber Unit The Securities and Exchange Commission (SEC) reports adding 20 positions to its crypto assets and cyber unit, which is tasked with “protecting investors in crypto markets and from cyber-related threats.” The unit, in the SEC’s enforcement division, will grow to 50 dedicated positions, officials say. The unit,… Read More >>
Bloomberg Takes On Corporate Actions Complexity: Q&A
(FTF News recently got the chance to check in with Maureen Gallagher, the global head of enterprise reference data at Bloomberg. Our Q&A covers missing and incomplete corporate actions, the changes that Bloomberg is making to its corporate actions offerings, and the impacts of emerging, disruptive technologies. In her role, Gallagher oversees not only corporate… Read More >>
‘Like Upgrading an Aircraft Midflight’: Q&A
(Correspondent clearing provider RQD* Clearing (RQD) recently announced that it is broadening its partnership with broker-dealer TradingBlock to cover clearing and execution for the firm’s active and retail trading lines. In addition, RQD and TradingBlock are collaborating on TradingBlock’s forthcoming retail trading platform. TradingBlock, whose clients include proprietary traders and small hedge funds, was among… Read More >>
NYSDFS Urges Crypto Firms to Use Blockchain Analytics
Cryptocurrency businesses licensed by the state of New York are being strongly urged to use blockchain analytics to improve policies, processes, and procedures, according to a guidance issued by Adrienne Harris, superintendent of the New York State Department of Financial Services (DFS). Cryptocurrencies, aka virtual currencies, are based upon distributed ledger technology (DLT), also called… Read More >>
Medley & Former Co-CEOs to Pay $10M Penalty
Chapter 11 is not a good look for a manager of assets, don’t you think? And a cautionary tale is always valuable to offset the many temptations that beset the financial services industry, yes? Consider: With their own assets on the line just over a year ago, in March 2021, Medley Management LLC, a Delaware… Read More >>
StanChart Uses A.I. for Onboarding Funds & Other News
Standard Chartered Joins the Saphyre Platform Standard Chartered’s capital markets division is using a platform that applies artificial intelligence (A.I.) to the onboarding process for new funds and for the maintenance of those funds, say officials at Saphyre, which is the name of the platform and the financial technology vendor that created it. The patent-approved… Read More >>
Fidelity Gives a Nod to Bitcoins & Other News
Fidelity Launches a 401(k) Plan for Digital Assets Fidelity Investments will allow individuals to allocate a portion of their retirement savings to Bitcoin if their employers also agree to allow the cryptocurrency to be part of a 401(k) plan, officials say. To facilitate this change, Fidelity has launched the “workplace Digital Assets Account (DAA)” 401(k)… Read More >>
