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

Nebraska needs more mental health care providers, says retired state doctor | Policy

A senior Nebraska state medical official sees opportunities and challenges ahead for the state’s ability to deliver mental health resources, and they both boil down to the same factor: people. For the past few years, Janine Fromm has served as an executive physician with the Nebraska Department of Health and Human Services, capping decades of … 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

The impact of technology on finance: a new eBook

The financial system performs many important functions, including the provision of payment systems for the exchange of goods and services, the production of information, and the methods of sharing risk and allocating capital efficiently (Merton 1995). The financial system and banking institutions have faced several challenges over the past decade, including a new regulatory environment, … 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

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