Regulatory Alerts and News Archives

Revolut executive resigns amid growing tensions with regulator

Jack J. Kelly FinTech, Regulators, Regulatory Alerts and News, Regulatory News and Developments July 11, 2022

One of Revolut’s UK regulatory chiefs has stepped down from her role amid growing tensions between the fintech firm and the Financial Conduct Authority over its sluggish progress on towards a banking licence. Deirdre Halligan, head of global affairs, wealth and trading, oversaw the ...Read More

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Wells Fargo warns investors that the bank is likely to face more regulatory setbacks

Jack J. Kelly Investors, Regulatory Alerts and News, Wells Fargo November 4, 2021

Wells Fargo isn’t out of the woods yet when it comes to its regulatory mess. That’s the message the bank sent in its most recent filing with the Securities and Exchange Commission this week. Wells Fargo said it is “likely to experience issues or delays” in satisfying ...Read More

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Crypto Firms Beef Up Compliance Hiring as Regulatory Scrutiny Mounts

Jack J. Kelly Compliance, crypto, Regulatory Alerts and News October 11, 2021

Cryptocurrency companies are ramping up hiring in their compliance departments as they come under increasing regulatory scrutiny in the U.S. and world-wide. Hamlyn Williams Inc., a global recruiter that focuses on regulated industries, said it has conducted 18 chief-compliance-officer searches for financial technology and ...Read More

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Binance Makes Regulatory Compliance Top Priority as the Crypto Exchange Pivots Into Financial Services Company

Jack J. Kelly Binance, Compliance, crypto, Regulatory Alerts and News September 8, 2021

Global cryptocurrency exchange Binance has made regulatory compliance its top priority. The exchange is on a hiring spree to “significantly” add to its compliance and legal teams. “We are going through a pivot from a technology innovator into a financial services company, so we ...Read More

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New Candidate for Top Bank Regulator Sees Risks in Crypto and Fintechs

Jack J. Kelly Cryptocurrency, FinTech, Regulatory Alerts and News, Regulatory News and Developments August 5, 2021

The Biden administration is vetting a new candidate for the job of top banking regulator after abandoning two earlier choices because a fight broke out within the Democratic Party. If the candidate — Saule Omarova, a professor of banking law at Cornell University Law ...Read More

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Massachusetts regulators are seeking to revoke Robinhood’s broker license just as the trading app aims to go public

Jack J. Kelly Regulators, Regulatory Alerts and News, Regulatory News and Developments, Robinhood, Stocks, Trading April 16, 2021

Massachusetts regulators are seeking to revoke Robinhood’s broker-dealer license to prevent the trading app’s operations in the state. William Galvin, the Secretary of the Commonwealth of Massachusetts, wrote in a Thursday filing Robinhood has “continued a pattern of aggressively inducing and enticing trading among ...Read More

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