GMO Internet introduces open source KYC as blockchain project enters fifth phase
The use of blockchain for KYC cuts human and financial costs of identity verification.
Maria Nikolova
UK regulator targets Facebook ad about financial advice over misleading use of Martin Lewis image
The ASA found that a Facebook ad for Sterling Partnership Ltd breached a number of rules, including ones about misleading advertising, substantiation, endorsements and testimonials.
Wind-down of options market making operations weighs on Interactive Brokers’ trading gains in Q3’2017
Trading gains decreased 71% from the third quarter of 2016 due to lower market making trading volumes.
Trading Technologies continues to dispute Patent Trial and Appeal Board decisions
The latest in a string of cases targeting PTAB’s decisions against Trading Technologies patent claims has just been filed with the Court.
AI to make up to 70% of credit-related decisions concerning legal entities, Sberbank forecasts
Currently, AI accounts for 35% of the decision-making for credits for legal entities, according to the bank.
Russia’s Ministry of Telecom and Mass Communications submits draft decree on cryptocurrency and related tech
The Central Bank and the Ministry of Finance will have the final say on any regulation of cryptocurrency and blockchain.
Swissquote launches Chatbot on mobile app for Android devices
The launch of Swissquote’s Chatbot fits well within a broader trend of increased use of robots in the financial services industry.
Head of Global FX Club changes plea to “guilty” in fraud case
The sentencing of Michael Wright is scheduled for January 25, 2018.
Interactive Brokers’ TWS platform to choose native over simulated Stop and Stop Limit Orders
In cases where TWS will choose the native over the simulated order type, the platform will provide notice in both the label, e.g. Stop (prefer Native) and in the pop-up help.
BoE confirms reforms to SONIA, preferred alternative sterling LIBOR, to be implemented in April 2018
Friday – April 20, 2018, will be the last day for which SONIA will be calculated and published by the WMBA using the current methodology.
OANDA settles civil action brought by former customer Antonio Medina
The parties have entered into a settlement for the civil action at the New York Southern District Court and a related matter at the Northern District Court of California.
Australian “bitcoin bill” gets the green light from Senate Legal and Constitutional Affairs Legislation Committee
The committee believes that the bill would contribute to preventing money-laundering and terrorism financing, in addition to improving the legislative framework governing digital currency.
Ex-MtGox customers seek to certify class against Mizuho over withdrawal issues
Mizuho is alleged to have unilaterally decided no longer to process outbound international wires, and then worked to ensure that transactional difficulties were not attributed to the bank.
Scottish Limited Partnerships, often fronting for binary options firms, fail to comply with new rules
Some 28,100 Scottish Limited Partnerships failed to supply statements of Persons of Significant Control by the deadline given in the Scottish Partnerships Regulations 2017.
SEC invites comments on CBOE plans to offer electronic-only order type
The electronic-only designation aims to allow order entry firms and Trading Permit Holders to avoid potentially time-consuming steps of retrieving or resubmitting their orders from PAR or OMT.
Barclays seeks to defend itself in “dark pool” case
Barclays says that it expressly disclosed that there were, in fact, “aggressive” traders in LX.
NY Court sides with US govt in evidence spat in FX manipulation case
Judge Berman of the New York Southern District Court denied the “FX Cartel” motion for a bill of particulars.
SBT Venture Fund II to pump up to $200 million into blockchain, AI, IoT projects
Sberbank is one of the founders of the fund, which will provide financing to projects related to new technologies.
Academics advise UK Parliament against implementing general AI law
“Looking at specific areas – the data protection legislation that we have, would make sense but a general AI law – no”, says Professor Michael Wooldridge.
