• The UK’s first ever ‘anti #crypto’ conference is not just for haters — regulators want in too Link
    Financial News Wed 10 Aug 2022 18:23

    The crypto industry’s recent implosion has shattered confidence in the sector – and caused serious headaches for those looking to promote digital assets to institutional investors.

    In September, that task could get even more difficult, after the first ever 'anti-crypto' conference kicks off in London. The inaugural Crypto Policy Symposium already has regulators from the UK, US and EU on its 600-strong attendee list, and promises to bring influential figures in law, policy and banking together to “encourage critical discourse”...

  • Johnny Depp’s law firm Brown Rudnick has big plans in London Link
    Financial News Wed 10 Aug 2022 17:13

    The live-streamed US libel trial of actor Johnny Depp against his ex-wife Amber Heard dominated the internet for just over a month. But the fervent Google searches also threw his law firm, Brown Rudnick, into the blazing spotlight.

    Now the 146th largest law firm in the US by revenue is capitalising on its new-found online fame by plotting a London expansion.

    “London...

  • Arsenal #crypto ads banned for ‘misleading’ fans Link
    Financial News Wed 10 Aug 2022 16:17

    Britain’s advertising watchdog has banned two ads by Arsenal Football Club for its crypto-based fan token scheme, saying they were misleading fans over the risks of cryptocurrency investing.

    The Advertising Standards Authority said the club did not make it clear that the value of investments in the tokens could go up or down, nor that the crypto assets were unregulated.

    The...

  • "You get all sorts of potential conflicts of interest when you open up that Pandora's Box." Link
    Financial News Wed 10 Aug 2022 15:07

    Liz Truss is ready to give politicians the power to veto decisions made by regulators if she becomes Prime Minister, as a war of words between the Conservative Party leadership candidate and the Bank of England is set to escalate.

    Claiming that organisations like the Financial Conduct Authority and Bank of England's Prudential Regulation Authority are slowing the pace of post-Brexit reforms, Truss is signalling she will push ahead with plans to give ministers a so-called 'call in' power over regulatory decisions when they...

  • Abrdn boss Stephen Bird plots digital assets push: ‘Expect to hear more from me on this’ Link
    Financial News Wed 10 Aug 2022 14:22

    Abrdn is on the cusp of making its first foray into digital assets — a segment of the non-traditional finance market that is fast becoming an attractive target for the global fund management sector.

    “You can expect more from me very shortly on this,” Abrdn CEO Stephen Bird told Financial News when asked about plans to build out the £508bn group's digital assets capabilities.

    “Tokenisation,...

  • Why workplace ‘banter’ is bad news for financial services Link
    Financial News Wed 10 Aug 2022 14:02

    Samar Yanni is the Chartered Institute for Securities & Investment's assistant director and head of membership and professional standards. Stella Chandler is a director at Focal Point Training

    A recent survey from the Chartered Institute for Securities & Investment and Focal Point returned some shocking results about the impact of banter in the workplace.

    Before...

  • Johnny Depp’s law firm Brown Rudnick has big plans in London Link
    Financial News Wed 10 Aug 2022 13:42

    The live-streamed US libel trial of actor Johnny Depp against his ex-wife Amber Heard dominated the internet for just over a month. But the fervent Google searches also threw his law firm, Brown Rudnick, into the blazing spotlight.

    Now the 146th largest law firm in the US by revenue is capitalising on its new-found online fame by plotting a London expansion.

    “London...

  • Arsenal #crypto ads banned for ‘misleading’ fans Link
    Financial News Wed 10 Aug 2022 13:22

    Britain’s advertising watchdog has banned two ads by Arsenal Football Club for its crypto-based fan token scheme, saying they were misleading fans over the risks of cryptocurrency investing.

    The Advertising Standards Authority said the club did not make it clear that the value of investments in the tokens could go up or down, nor that the crypto assets were unregulated.

    The...

  • RT @alexmdaniel: Arsenal told off by the advertising watchdog for misleading fans with its crypto scheme Link @Financia…
    Financial News Wed 10 Aug 2022 09:46

    Britain’s advertising watchdog has banned two ads by Arsenal Football Club for its crypto-based fan token scheme, saying they were misleading fans over the risks of cryptocurrency investing.

    The Advertising Standards Authority said the club did not make it clear that the value of investments in the tokens could go up or down, nor that the crypto assets were unregulated.

    The...

  • RT @Justin_Cash_1: "You get all sorts of potential conflicts of interest when you open up that Pandora's Box". Why the City isn't so sure…
    Financial News Wed 10 Aug 2022 09:46
  • RT @alexmdaniel: I interviewed the UK's crypto skeptic-in-chief, Stephen Diehl. We talked about death threats, the govt getting into bed w…
    Financial News Wed 10 Aug 2022 08:15
  • RT @davidricketts: Abrdn boss Stephen Bird plots digital assets push: ‘Expect to hear more from me on this’ Link via @Fi…
    Financial News Wed 10 Aug 2022 08:10

    Abrdn is on the cusp of making its first foray into digital assets — a segment of the non-traditional finance market that is fast becoming an attractive target for the global fund management sector.

    “You can expect more from me very shortly on this,” Abrdn CEO Stephen Bird told Financial News when asked about plans to build out the £508bn group's digital assets capabilities.

    “Tokenisation,...

  • Markets are changing, and investors need to understand how block trades really work Link
    Financial News Tue 09 Aug 2022 19:13

    Jeffrey O’Connor is a senior execution consultant and market insight analyst for US equities at Liquidnet

    The recent surge in retail trading is important for the vibrancy of capital markets and the price formation process.  However, the market structure which underpins elements of equity trading has also come under severe criticism by these new entrants.

    This...

  • What we are seeing right now might be the new normal Link
    Financial News Tue 09 Aug 2022 17:11

    For years the poster child of European banking, UBS has just turned in an uncharacteristic-ally disappointing set of earnings for the second quarter. But there was one bright spot — its small fixed-income trading business, where revenue surged 19%.

    The irony will not have been lost on Andrea Orcel, former head of the group’s investment bank, who sometimes mused about whether UBS’ fixed-income business had been cut back too much in its post-financial crisis restructuring 10 years ago.

    At...

  • The former South London home of #BorisJohnson is on the market for £1.6m Link
    Financial News Tue 09 Aug 2022 14:05

    Outgoing UK Prime Minister Boris Johnson and his wife, Carrie, listed their south London residence on 5 August for £1.6m.

    The couple purchased the semi-detached Victorian home in 2019 for £1.2m, according to Land Registry records. It offers four bedrooms and three bathrooms over about 2,100 square feet, with a garden in the back.

    READ  The...

  • RT @trista_kelley: One of the highest ranking (THE highest ranking?) openly gay women in the corporate world chats with @JeremyHLChan about…
    Financial News Tue 09 Aug 2022 13:45
  • The UK Secretary of State for Business and Energy: 'we have ambitious plans for greater #energy independence' Link @centricaplc #CostOfLivingCrisis #EnergyCrisis
    Financial News Tue 09 Aug 2022 13:45

    Centrica said on 9 August that it has signed a 15-year liquefied natural gas supply deal with Delfin Midstream valued at £7bn ($8.45bn).

    The UK energy group said that the heads of agreement is to purchase 1.0 million metric tons a year of LNG from the Delfin Deepwater Port. This is a project to build the first floating LNG export facility in the US off the coast of Louisiana.

    ...
  • Is @SBF_FTX the potential protagonist of Lewis’ next book? ? Let FN's @alexmdaniel know who you think the mystery man is ? Link #FintechFiles #MichaelLewis #SBF
    Financial News Tue 09 Aug 2022 13:19

    When Michael Lewis talks to crypto bros, he tends to get bored within about six hours.

    But when the Big Short author was searching for inspiration for his next book, he went on a hike with an unnamed man in the crypto industry.

    ...
  • The move would help keep a lid on #oil #prices while ensuring that the US and its allies are not funding #Russia’s war in #Ukraine Link #CostOfLivingCrisis #inflation #EnergyCrisis
    Financial News Tue 09 Aug 2022 12:34

    Michael R Strain is director of economic policy studies at the American Enterprise Institute

    Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gas prices, and causing economic and political challenges in the US, UK and Europe. Increased supply from Russia would lower prices, but the revenues from those additional sales would fuel President Vladimir Putin’s war machine.

    Adding...

  • #Taiwan's dominance in chip manufacturing at risk as #China threat mounts Link #tech
    Financial News Tue 09 Aug 2022 12:14

    Technology investors are on pins and needles, waiting to see if US House Speaker Nancy Pelosi’s historic visit to Taiwan will spark a series of cascading responses from China.

    While the likely outcome over the short term is more saber-rattling, the potential trip serves as a reminder of the significant risk that Taiwan represents for the US technology sector. Most of the world’s advanced chips are made in Taiwan.

    Pelosi...

  • RT @trista_kelley: About half of @abrdn_plc's 5,000 staff worldwide (those paid £75k or under) will get a pay bump amid soaring #inflation…
    Financial News Tue 09 Aug 2022 12:09
  • #Abrdn reported a £320m loss on 9 August after brutal first six months Link #assetmanagement @abrdn_plc
    Financial News Tue 09 Aug 2022 11:49

    Abrdn, the FTSE 100 asset manager, is ramping up efforts to reduce the number of funds it has on offer to investors in the UK, with its chief executive claiming its landmark merger in 2017 left it bloated with too many products.

    "We've got too many funds and too many flavours of funds that are too similar and non-differentiated in the UK," Stephen Bird told Financial News.

    Abrdn...

  • Around 50% of #Abrdn's 5,000 staff worldwide will receive an increase in pay, according to a spokesperson for the firm Link #assetmanagement
    Financial News Tue 09 Aug 2022 11:29

    Abrdn, the Edinburgh-headquartered asset manager, has brought forward a pay increase for around half of its 5,000 strong global workforce to ease the cost-of-living crisis, joining a handful of financial services firms that are supporting employees with rising household bills.

    “We've brought forward the pay round for 2023 to October,” Stephen Bird told journalists on a call following the asset manager's first half results on 9 August.

    “I've...

  • RT @davidricketts: 'We need people focused on their jobs, not worrying about paying the gas bill' says @abrdn_plc CEO @SBirdabrdn https://…
    Financial News Tue 09 Aug 2022 11:24
  • Former Chancellor, @PhilipHammondUK, set to add to portfolio of finance roles since leaving office Link #fintech
    Financial News Tue 09 Aug 2022 10:34

    Former Chancellor Philip Hammond is set to join an all-star line-up at a new fund trying to boost the chances for UK fintechs, according to reports.

    A new vehicle provisionally called the Fintech Growth Fund will raise £1bn to back promising start-ups, Sky Newsreported, and Hammond is set to join its advisory board.

    The fund will look to institutional...

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