24 May 2015

All risk & regulation news

Overstock buys stake in ATS for digital securities push

20 May 2015  | 0 comments | 1 tweets | 1 linkedin

Online retailer Overstock has stepped up its plans to issue "digital securities" through the acquisition of a 25% stake in alternative trading system (ATS) PRO Securities, according to Wired.

PayPal faces a $25 million bill to settle a complaint from US regulators that it illegally signed people up to its online credit product.

Retail banks face extinction in digital world - Oracle research

14 May 2015  | 3 comments | 52 tweets | 44 linkedin

Retail banks could be on the brink of extinction, claims a new report from Oracle which says that three quarters lack suitable technology to complete the path to a digital world, leaving them vulnerable to new fintech competitors.

VocaLink has appointed a former aviation industry executive to lead a new regulatory unit which will lead the company's engagement with the new Payment Systems Regulator (PSR) and help navigate the firm through the changing UK payments landscape.

A startup with $10 million in funding behind it has applied to Sweden's financial watchdog to become a regulated institutional foreign exchange and digital currency marketplace and clearing house.

ItBit has raised $25 million in funding and become the first virtual currency firm to receive a charter from New York state's financial regulator, enabling the exchange to open its doors to customers throughout the US.

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