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AML RightSource appoints Steve merink as CEO

AML RightSource, the global leader in financial crime compliance solutions, today announced the appointment of Steve Meirink as the company’s new Chief Executive Officer, effective immediately, and that he has been named to the Board of Directors.

/regulation

BMO renews FundApps compliance monitoring contract

BMO, North America’s 8th largest bank with total assets of $1.41 trillion, has renewed its contract for the FundApps Shareholding Disclosure platform with FundApps, the compliance monitoring and reporting specialists.

/regulation

SEC charges Elon Musk for fleecing Twitter shareholders

The Securities and Exchange Commission announced today that it has filed an action against Elon Musk alleging that he failed to timely file a beneficial ownership report with the Commission after acquiring beneficial ownership of more than five percent of the outstanding shares of Twitter, Inc. common stock, in violation of the beneficial ownership reporting requirements under the Securities Exchange Act of 1934 (“Exchange Act”).

/regulation

Thistle launches migration tool with in-built compliance for platform switching financial advisers

With over a third of financial advisers in the United Kingdom having changed one or more of their preferred platforms in 2023, and compliance burden the toughest challenge for over 80% of advisers, wealth management firms will continue the quest for quality service and adaptable technology in 2025, says Thistle Initiatives, the award-winning financial services compliance company.

/regulation

Droit appoints Goldman Sachs MD Somerset Pheasant as chief strategy officer

Droit, a technology firm at the forefront of computational law and regulation, has appointed Somerset Pheasant as Chief Strategy Officer.

/regulation

China's XTransfer granted payment licence in Singapore

XTransfer, the World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, was granted the Major Payment Institution (MPI) License under the Payment Services Act 2019 by the Monetary Authority of Singapore (MAS).

/regulation

CFPB sues Capital One for cheating consumers out of more than $2 billion in interest payments

Today, the Consumer Financial Protection Bureau (CFPB) sued Capital One, N.A., and its parent holding company, Capital One Financial Corp., for cheating millions of consumers out of more than $2 billion in interest.

/regulation

CFPB research reveals heavy BNPL usage among consumers with high credit sccores and multiple loans

Today, the Consumer Financial Protection Bureau (CFPB) released a study of Buy Now, Pay Later (BNPL) borrowers, finding that more than one-fifth of consumers with a credit record used BNPL loans in 2022, with most of those consumers having subprime or deep subprime credit scores.

/regulation

BIS Innovation Hub sets out 2025 work programme

The BIS Innovation Hub aims to foster international collaboration on innovative financial technology within the central banking community.

/regulation

Gleif links up with Companies House

The Global Legal Entity Identifier Foundation (GLEIF) today announces a new initiative with the UK business registry, Companies House, to simplify and accelerate the international identifiability and discoverability of UK businesses.

/regulation

FSB examines the relevance of climate transition plans for financial stability

The Financial Stability Board (FSB) published today a report on The Relevance of Transition Plans for Financial Stability, which looks at the role that firms’ climate transition planning and the resulting outputs – transition plans – can play for financial stability.

/regulation

CFTC hits Gemini with $5 million penalty

The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered a consent order against Gemini Trust Company LLC, a New York trust company.

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