ASIC
August 12, 2025 BY Sam Boughedda

Former Investment Manager Pleads Guilty in Platinum Asset Management Insider Trading Case

Rodney Forrest reportedly admitted to two counts of insider trading between August and September 2024 before Sydney’s Local Court on Tuesday.  ASIC alleges he acquired about $2.6 million worth of Platinum shares while in possession of confidential information relating to a takeover offer and procured others to make similar trades. ASIC further alleges Forrest operated…

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Hong Kong
August 12, 2025 BY Sam Boughedda

GBT Technologies to Rebrand as Wertheim & Company; Emil Assentato Joins as Strategic Investor

Craig Marshak will be appointed chief executive officer, bringing more than 30 years of investment banking and growth capital experience, including a leadership role at Nomura’s $500 million Growth and Technology Fund in London.  The company also intends to appoint Harinder Sandhu to its board. The “Wertheim & Company” trademark dates back to the original…

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August 12, 2025 BY Sam Boughedda

Nium and iPiD Expand Partnership to Advance VoP Compliance

The Singapore-based fintechs said that they will now integrate their technologies in both directions, with iPiD utilising Nium’s Verify infrastructure to enhance its own validation capabilities, and Nium leveraging iPiD Node to extend its EU reach.  The collaboration will provide audit-ready coverage in all 41 SEPA countries, alongside Nium’s existing instant account verification in 25…

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Exclusive: Bryan Seegers leaves financial services company Jefferies Group LLC
August 12, 2025 BY Sam Boughedda

Paxos Seeks US National Trust Charter from OCC

The move would place Paxos under direct U.S. federal oversight, replacing its current New York Department of Financial Services (NYDFS) authorisation, and reflects what the company described as its “consistent commitment to maintain the highest regulatory standards of any blockchain infrastructure and tokenisation platform globally.” Paxos has operated under NYDFS oversight since 2015, when it…

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The market impact of the IMF reducing UAE's Global GDP growth forecast
August 12, 2025 BY Sam Boughedda

Ant International Secures Key Approvals for UAE Expansion

The in-principle approval covers Stored Value Facilities and the Retail Payment Services and Card Schemes licences, a prerequisite for the full licences needed to launch operations in the country.  Once granted, the company said it plans to offer merchant acquiring, payment aggregation, e-wallet issuance, and domestic and cross-border fund transfers. H.E. Badr Al-Olama, director general…

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ATFX UK to allow more deposit and withdrawal options via Trustly
August 11, 2025 BY Sam Boughedda

ATFX Connect Appoints Professor Trevor Williams as Consultant Economist

The firm said that Williams will provide economic commentary and strategic analysis to strengthen the firm’s thought leadership and equip clients with a deeper understanding of a rapidly changing global economy. A well-known figure in financial circles, Williams served as chief economist at Lloyds Bank Commercial Banking for more than a decade.  He is also…

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August 11, 2025 BY Sam Boughedda

Ultima Markets Secures FCA Licence

The Mauritius-based firm said the licence marked a “significant step” in its strategy to establish a regulated presence in the UK, one of the world’s largest financial hubs with an estimated 19 million active traders in 2024. “We’re incredibly proud to take this step,” said Gareth Derbyshire, spokesperson for Ultima Markets. “Becoming FCA-regulated reflects our…

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August 11, 2025 BY Sam Boughedda

Western Union to Buy International Money Express in $500 Million Deal

Under the terms, Western Union will pay $16 per Intermex share, representing a premium of around 50% to its 90-day volume-weighted average price.  The transaction, unanimously approved by both companies’ boards, is expected to close by mid-2026 subject to shareholder and regulatory approvals. Western Union said the acquisition would strengthen its U.S. retail platform, enhance…

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Plus500
August 11, 2025 BY Sam Boughedda

Plus500 Revenue, Active Customers Edge Higher in H1

The London-listed fintech group posted revenue of $415.1m for the six months to June 30, up 4% from $398.2m a year earlier.  EBITDA edged 1% higher to $185.1m, representing a margin of 45%. Active customers rose 2% to 179,931, while the average revenue per user increased 2% to $2,307.  Average deposits per active customer more…

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