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Latest Results from /markets

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Vesttoo to sack 75% of staff

Israel-based Vesttoo, which uses artificial intelligence technology to connect the insurance industry and capital markets, is laying off 75% of its staff amid a growing scandal over the alleged use of a fraudulent letter of credit in a multi-billion dollar insurance transaction.

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Aussie regulator sues eToro over CFD over-reach

The Australian Securities and Investments Commission is suing online investment platform eToro over an alleged failure to act honestly and fairly in the marketing of its contract for differences (CFD) product, leaving 77% of retail clients out-of-pocket.

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LedgerEdge goes under

Corporate bond trading platform LedgerEdge has gone into administration just a year after its live launch.

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SEC says Hex crypto founder defrauded investors and bought $4m diamond

The Securities and Exchange Commission has charged entrepreneur Richard Heart with conducting unregistered offerings of crypto asset securities that raised more than $1 billion and of defrauding investors of $12 million to buy, among other things, a 555-carat black diamond.

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Emea fintech takes biggest hit in funding downturn

The European fintech industry bore the brunt of a global drop in fintech funding during the first half of 2023, declining by more than half over the peceding period.

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FS giants team on open standards project for common cloud controls

The Fintech Open Source Foundation (Finos) is forming an open standard project to describe consistent controls for compliant public cloud deployments in the financial services sector.

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EToro constructs fintech portfolio

EToro has constructed a passive investor portfolio composed solely of shares in 40 leading fintech companies.

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Warwick Business School opens fintech research centre

Warwick Business School has opened a research centre for financial technology backed by a £3 million donation from Clive Gillmore, an alumnus of Warwick University and CEO and Group CIO of Mondrian Investment Partners

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Agile ESG reporting software key in evolving regulatory landscape

Mounting regulatory requirements and growing stakeholder pressure is driving a surge in demand for ESG reporting and data management software, creating a multi-billion dollar market that vendors need to keep up with, according to a report from research firm Verdantix.

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Robinhood hires CEO for UK launch

American stock trading app Robinhood has tapped Freetrade executive Jordan Sinclair to lead its renewed plan for a UK launch.

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UK regtech eflow raises £7m for global expansion

UK-based regtech eflow Global has raised £7 million in a Series A funding round led by Finch Capital.

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US online trading platforms launch in UK

The UK's retail trading platform market has become more crowded following the launch of two separate US ventures.