Managers of Wealth Fintech

LendingClub cuts 225 jobs

The firm says it originated $2.5 billion in loans in the fourth quarter and expects revenue of between $260 million and $263 million, with net income of between $21 million and $24 million.

Key Developments & Latest Trends in the Fintech Sector in The Bahamas

From a central Government policy perspective, the Government of The Bahamas (the “Government”) published a Policy White Paper on The Future of Digital Assets in The Bahamas

Herbert Smith Freehills advises the NSW Government on partnership with Techstar

The agreement will see Techstars establish an office in Sydney’s Tech Central, Australia's largest innovation district.

IBM and Oracle deliver AIG hospitality services on the cloud

In the digital era, hotels leverage technology to expand their offerings and encourage seamless operations across a network of branches.

NFT infringes trade mark rights – Italian Court grants preliminary injunction in Juventus case

Therefore, the Court rejected all Blockeras’ arguments of non-infringement and found the NFT CARDS to be an unauthorised and infringing reproduction of the football club’s trade marks.

Ashurst invites applications for Fintech Legal Labs accelerator

Set over three days, the programme takes a legal-led approach to the key topics relevant to Fintech businesses

JPMorgan Chase sues founder of startup it acquired

Asked for proof during due diligence, she allegedly produced a list of “fake customers - a list of names, addresses, dates of birth, and other personal information for 4.265 million ‘students’ who did not actually exist,” says the

BR-DGE announces three-year partnership with Visa

The collaboration will focus on a range of digital commerce products at a time of “rapid innovation” in the payments sector.

Up to a quarter of APP fraud victims could lose out under new reimbursement rules

By monetary value, cases under £100 account for a small amount of overall fraud losses - at one percent.

FCA fines GT Bank £7.8 million for serious AML compliance failings

The bank also failed to monitor customer transactions and business relationships to the required standard.

Jack Ma to give up control of fintech giant Ant Group

However, after the changes in governance structure, he will control just over 6%, according to an Ant Group statement.

Romania Carries Out Raids as Part of Crypto Tax Evasion Probe

Police and tax officials in Romania have carried out 17 raids in the fall of last year as part of an investigation against persons accused of evading taxation by concealing profits from transactions with cryptocurrencies, local media revealed.

Data protection enforcement power struggles highlighted in Meta case

It used its powers to do so under a regulatory cooperation mechanism that operates under the EU’s General Data Protection Regulation (GDPR).

JPMorgan must face Ray-Ban lawsuit over cyber theft

The criminals had recruited one of its employees in Thailand to make the fraudulent transactions, which resulted in regular monthly transfers jumping from $15 million to $100 million.

New York sues Celsius founder Mashinsky

In addition, the suit says, as Celsius lost hundreds of millions of dollars of assets in risky investments, Mashinsky misrepresented and concealed his firm's deteriorating financial condition.

Finland's Coinmotion achieves crypto registration in Spain

This means that Coinmotion reinforces its presence in the Spanish market and becomes one of the leading cryptocurrency platforms nationwide

Coinbase promises improvement in the fight against money laundering

The agency noted that Coinbase had treated customer onboarding requirements as “just ticking” and had failed to conduct sufficient background checks.

US regulators warn banks of crypto exposure risks

Lawmakers highlight risks from fraud and scams, high volatility, legal uncertainties and inaccurate or misleading representations and disclosures by crypto-asset companies.

FTX Founder Expected to Plead Not Guilty

The fallen crypto exchange’s former chief executive faces two wire fraud charges and six conspiracy charges, including money laundering and compliance finance violations, which total a maximum of 115 years of imprisonment, if convicted.

CSRC Bans Platforms from Soliciting New Mainland Clients

CSRC’s statement was made one day after New York-listed Futu announced that it would delay its listing plans in Hong Kong

Legal,Regulation,Tax & Compliance