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Financial Services
Editor's Picks
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NFT scammer used Tornado Cash to launder rug-pull proceeds, he tells US court
A man who carried out a rug pull using non-fungible tokens testified at the US trial of Tornado Cash co-founder Roman Storm that he used the cryptocurrency mixer to... (more story)
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Requests for tolerable failure guidance not a bid to avoid criticism, FCA says
The Financial Conduct Authority's requests for the government to set out what would constitute an acceptable level of failures in the financial sector as a result o... (more story)
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Proxy advisor 'duopoly' puts politics over profits, US House Republicans say
Institutional Shareholder Services and Glass Lewis & Co. helm a “duopoly” over proxy advisor services that empowers the firms to effectively operate as “unsupervise... (more story)
Insight View More
The GENIUS Act, which passed the US House today following passage in the Senate last month, would let private companies issue stablecoins — a prospect that has alarmed some Democratic lawmakers who fear it wou... (more story)
An FBI agent specializing in cybercrime investigations traced the flow of more than $1 billion stolen in hacking incidents to the Tornado Cash cryptocurrency mixer during the US trial today of co-founder Roman... (more story)
A man who carried out a rug pull using non-fungible tokens testified at the US trial of Tornado Cash co-founder Roman Storm that he used the cryptocurrency mixer to launder $1.1 million in stolen proceeds.
US Federal Reserve Governor Michael Barr said today that he is “quite worried” about the bank-friendly direction the Fed is taking on stress tests because they have been “very, very effective” since their intr... (more story)
The UK’s financial watchdog has told post-trade firms that they must secure enough money now to finance the transition to a one-day settlement cycle, or T+1, in October 2027. “Don't underestimate the scale of ... (more story)
The Financial Conduct Authority's requests for the government to set out what would constitute an acceptable level of failures in the financial sector as a result of being less risk averse were not an attempt ... (more story)
The European Commission was asked this week by the EU’s administrative watchdog to issue a written reply by Sept. 15 to explain why it skipped procedural steps in simplifying corporate green finance rules. The... (more story)
Barclays Bank has been fined a total of 42 million pounds ($56.3 million) by the UK's financial markets watchdog over failings in its money laundering processes. The Financial Conduct Authority said it had fin... (more story)
Comment View More
US Federal Reserve Governor Michael Barr’s pleas to keep tight bank regulation to stave off economic crisis are sure to be disregarded by his Fed colleagues. In a speech yesterday, the Fed’s bank regulator und... (more story)
The European Commission wants the Spanish government to drop “public interest” conditions imposed on BBVA’s bid for Banco Sabadell, which has drawn ire from national politicians. After standing up for UniCredi... (more story)
A promised overhaul of how the UK financial ombudsman decides disputes between consumers and regulated firms has won a welcome but also caused alarm. The government has promised to legislate to require the Fin... (more story)
UK finance minister Rachel Reeves will tomorrow deliver her second key annual Mansion House speech, under mounting pressure to reinvigorate the country’s key financial services sector and wider economy. Agains... (more story)
A US Federal Reserve that has become increasingly divided on regulatory matters during the Trump administration issued a bank-friendly proposal yesterday to revise its supervisory rating framework for large ba... (more story)
EU governments and lawmakers this week provisionally agreed on several provisions including “finfluencers” and financial education during a meeting on the Retail Investment Strategy legal package, sources in b... (more story)
The Bank of England may have signaled a more favorable approach to stablecoins, but it has not eased industry concerns that the UK’s regulatory regime still lacks clarity on which of the digital currencies wou... (more story)
The Financial Stability Board’s appointment of Randal Quarles to review the status of post-2008 reforms has raised the hackles of a senior US Senate Democrat who said it could be “putting the international fin... (more story)