Latest Legal News: Finextra Research

Ronaldo hit with class action suit over Binance promotion

Cristiano Ronaldo has been hit with a $1 billion-plus class action lawsuit over his promotion of an NFT collection with controversial crypto exchange Binance.

29 November 2023

News/regulation

UK companies backsliding on sanctions screening

UK companies are failing to keep up with the requirements for sanction-screening prospective clients despite the high level of global geopolitical unrest, according to a recently published survey.

23 November 2023

News/security

DORA to spark changes in risk management tech

The imminent introduction of the EU's Digital Operational Resilience Act (DORA) will force sell-side firms to make significant changes to their third party risk management software and strategies, suggests a recently published survey.

22 November 2023

News/crypto

Binance pays $4.3bn and CEO pleads guilty to settle US AML charges

Binance has agreed to pay $4.3 billion to settle a long-running investigation by the US Department of Justice, with the crypto exchange's founder Changpeng "CZ" Zhao also stepping down as CEO and pleading guilty to violating anti-money laundering requirements.

21 November 2023

News/crime

Celsius Network to pay back customers as bankruptcy case concludes

Celsius Network has received approval from a New York judge for a restructuring plan that will repay customers’ assets through new company owned by Celsius creditors and managed by Fahrenheit.

10 November 2023

News/payments

FTC bars Chargebacks911 from working with certain high-risk clients

The Federal Trade Commission and the State of Florida have reached a settlement with Chargebacks911 that prohibits the “chargeback mitigation” firm from working with certain high-risk clients and using deceptive tactics to stop consumers trying to dispute charges.

09 November 2023

News/retail

AIB apologises for online banking glitch

Irish high street bank AIB has admitted to a glitch in its online banking service after it was highlighted by newspaper The Irish Independent.

30 October 2023

News/crypto

New York sues Gemini and DCG for defrauding investors of $1.1bn

New York Attorney General Letitia James has filed a lawsuit against crypto firm Gemini and Digital Currency Group for allegedly defrauding nearly quarter of a million investors of more than $1 billion.

19 October 2023

News/payments

PayPal faces class-action suit claiming anticompetitive pricing rules

PayPal has been hit with a class-action lawsuit accusing the firm of anticompetitive "anti-steering" rules that leave consumers paying excess charges.

05 October 2023

News/people

Ex-Goldman associate charged with insider trading

US prosecutors have charged a former Goldman Sachs employee with securities fraud for allegedly tipping off friends about deals over Xbox chat.

02 October 2023

News/payments

US judge orders Apple to face Apple Pay antitrust suit

A US judge has told Apple it must face an antitrust class-action lawsuit from card issuers accusing the firm of preventing competition to its Apple Pay wallet.

29 September 2023

News/crypto

BIS chief calls on countries to modernise legal frameworks to support CBDCs

BIS general manager Agustin Carstens has called on countries to modernise their existing legal frameworks in a way that ensures legitimacy, privacy, integrity and choice for central bank digital currencies.

27 September 2023

Company update/devops

Investment Metrics adds liability reporting to its PARis solution

Investment Metrics, a Confluence company, the leading global provider of investment analytics, reporting, and data solutions, today announced the availability of liability reporting in its Portfolio Analytics and Reporting (PARis) solution. This new capability gives Investment Consultants and Asset Owners a more comprehensive and balanced view of their Pension plans, while significantly improving institutional plan analysis and reducing manual work and errors.

21 September 2023

News/payments

USAA secures cheque imaging patent agreement with Discover

Online military bank USAA has recorded another victory in its long-running effort to protect its remote deposit capture patents, reaching a licensing agreement with Discover Financial Services.

01 September 2023

News/crypto

Grayscale secures SEC legal win over bitcoin ETF

A US federal appeals court has sided with an asset manager in a lawsuit against the Securities and Exchange Commission (SEC) after the regulator denied an application to convert the Grayscale Bitcoin Trust into an exchange-traded fund (ETF).

30 August 2023

News/people

FTX founder sent to jail after bail revoked

Sam Bankman-Fried is heading to jail after a judge revoked the former FTX boss's $150 million bail package over alleged witness tampering.

11 August 2023

News/regulation

French privacy watchdog questions Worldcoin data collection legality

France's privacy watchdog says that the legality of Worldcoin's biometric data gathering "seems questionable," according to Reuters.

28 July 2023

News/crime

FTX sues Sam Bankman-Fried for $1bn

The former boss of failed crypto exchange FTX, Sam Bankman-Fried, is facing a $1bn lawsuit from the company he founded.

21 July 2023

News/payments

PayPoint faces law suit from energy charity

UK-based payment services provider PayPoint UK is facing legal action over alleged anti-competitive practices in the prepayment market

21 July 2023

News/retail

NAB supplier jailed over $19 million fraud scheme

The chief executive of a supplier to National Australia Bank has recieved a minimum eight-year jail sentence after being found guilty of multiple charges of fraud and bribery

20 July 2023