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

One Medical users pledge to cancel over $3.9 billion memberships with Amazon

Subscribers to healthcare app One Medical vowed to cancel their memberships on Friday after it was announced that the startup dubbed “the Netflix of primary care” would be acquired by Amazon for $3.9 billion. See: Amazon’s acquisition of One Medical sparks data privacy backlash: ‘What could go wrong?’ Angry One Medical ONEM, -0.58% subscribers said … Read more

Asset management chiefs reflect on the four-day week

Senior executives at some of the UK’s biggest fund companies are keen to move to a four-day working week as financial services companies continue to tear up regulations after the Covid pandemic. A survey of 200 senior asset management executives by professional services firm Accenture found 76% would favor working fewer days a week as … Read more

Financial Firms Seek Advantage in Quantum Computing-Inspired Algorithms

Quantum computing, which promises to dramatically increase processing speeds, is still years away from large-scale commercial deployment, but some financial services firms are turning to quantum-inspired technology for interim benefits. Traditional computers store information as zeros or ones. Quantum computers use quantum bits, or qubits, which represent and store information in a quantum state which … 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

Financial Crimes Efforts Get Additional Funding Under Ukraine Assistance Program

The U.S. Senate on Thursday approved nearly $100 million in funds that lawmakers said would be used to bolster efforts to crack down on financial crimes, including by enforcing sanctions against Russia and seizing assets linked to the country’s invasion of Ukraine. The funds were part of a nearly $40 billion military and economic aid … 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

Financial Crimes Efforts Get Additional Funding Under Ukraine Assistance Program

The U.S. Senate on Thursday approved nearly $100 million in funds that lawmakers said would be used to bolster efforts to crack down on financial crimes, including by enforcing sanctions against Russia and seizing assets linked to the country’s invasion of Ukraine. The funds were part of a nearly $40 billion military and economic aid … Read more

Financial Advisor Glossary: ​​Terms You Need to Know When Shopping for an Advisor

CFA. Trustee. RIA. These terms are not exactly self-explanatory. But when it comes to finding a financial advisor, you’ll be better equipped if you know the industry jargon and what’s behind a slew of acronyms. So we’ve put together a handy glossary of fundamental financial advisor terminology and definitions that will help you master the … Read more