Robinhood’s Crypto Unit Fined $30 Million by Top New York Financial Regulator

The New York State Department of Financial Services has fined online brokerage Robinhood Markets Inc.’s cryptocurrency trading unit $30 million for alleged violations of anti-money laundering regulations. money and cybersecurity, as part of the department’s first crypto enforcement action. Newsletter Sign-Up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news … Read more

How UBS is targeting racial equity in finance

Melinda Hightower and Lynette Jefferson, executives at UBS Global Wealth Management, explain how racial stock investing works. Jefferson will speak at Barron’s ESG+ Impact Summit in New York City on June 22. Photograph by Lauren Perlstein Text size Lynette Jefferson and Melinda Hightower, two executives from UBS Global Wealth Management, come to the same goal … Read more

I found out that a financial advisor can cost $5,000 a year. Is it worth it?

What could a financial planner charge you and is it worth it? Getty Images/iStockphoto A reader wrote to us the other day to make a good point: she wanted us to give people a deeper insight into what a financial advisor might really cost them. Here’s his email, and below we take a look at … Read more

Fintech Chime Financial stays private as IPO market falters

Text size *** DISPOSABLE *** The time of dreams Chime Financial, a highly regarded fintech, may have put its IPO plans on hold. “Not only do we have the ability to add additional products and services, but we will continue to address more areas of our members’ financial lives,” said Chris Britt, co-founder and CEO … Read more

New York Federal Officials Seek Public Input on Crypto Regulation

NEW YORK—Senior officials from the U.S. Treasury Department, Department of Commerce, and New York State Department of Financial Services have said that when it comes to the digital asset industry, the involvement of the private sector is crucial, not only for its technological advancement, but also to ensure that it is not used for malicious … Read more

Truist Financial Acquires Long Game Gamified Fintech Startup

Financial truist Corp. operator of one of the nation’s largest commercial banks, has invested in gaming technology by acquiring Long Game Savings Inc., maker of a mobile app that rewards users for their savings. The deal, led by Truist Ventures, the bank’s venture capital arm based in Charlotte, North Carolina, includes Long Game’s team of … Read more

This financial advisor charges $1,000 a year. Is it worth it?

Is your financial planner overcharging you? Getty Images/iStockphoto Question: My resolution this year is to make saving money a bigger priority and I thought it would be helpful to have someone much more qualified than me to review my 401k, ESPP, and IRA contributions. I’m meeting a financial advisor for the first time tomorrow, but … Read more