Category: Financial Services

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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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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August 11, 2025 BY Sam Boughedda

ASIC Secures Million-Dollar Penalties from iSignthis and Former CEO

The Australian Securities and Exchange Commission said Monday that the Federal Court has ordered iSignthis Ltd, now trading as Southern Cross Payments Ltd, to pay a $10 million penalty for breaching disclosure laws, while its former CEO, Nickolas John Karantzis, has been fined $1 million and banned from managing corporations for six years. According to…

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August 08, 2025 BY Sam Boughedda

FCA Secures Conviction in £1.3 Million Ponzi Scheme

Pugh was found guilty at Southwark Crown Court of one count of conspiracy to defraud.  He had earlier pleaded guilty to carrying out unauthorised regulated activity and breaching sections 19 and 21 of the Financial Services and Markets Act 2000. Through his fraudulent Imperial Investment Fund (IIF), Pugh is said to have targeted 238 investors,…

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financial buildings
August 07, 2025 BY Sam Boughedda

Euroclear Appoints Szandra Nagyné Komócsi as Chief Internal Auditor

Szandra succeeds John Bendermacher, who is retiring after a tenure leading the group’s internal audit function.  Her appointment marks a return to Euroclear’s audit roots, having begun her career at the company in 2010 within its Internal Audit team. She brings extensive experience and a deep knowledge of the organisation to her new role.  Since…

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