It ain’t easy being CZ: Binance chief sued by US regulator for alleged trading violations CRYPTO The chief of crypto exchange Binance has been sued by US regulators today for a slew of trading rule violations, including helping customers evade its own compliance controls.
How a £50bn pension super fund with an appetite for UK innovation could help make the City great again Pension funds The UK’s pension funds should pool their assets in a £50bn ‘future growth fund’ or more firms will continue to shun London and list overseas, the Lord Mayor of London has warned today.
Exclusive: Home REIT’s biggest tenant dished out £1.2m to bosses before bankruptcy Home REIT The three bosses of Home REIT’s now-bankrupt biggest tenant pocketed over £1.2m last year even as the firm struggled to pay rent and slumped to a multi-million pound loss, City A.M. can reveal. Gurpaal Judge, the chief of Wolverhampton-based social housing provider Lotus Housing, hiked his own and two directors’ pay to £1.2m in 2022 [...]
Exclusive: Home REIT investors draw up plans for ‘landlord of last resort’ as tenants collapse March 24, 2023 Investors in beleaguered social housing investor Home REIT are drawing up plans for a ‘landlord of last resort’ as the firm’s cash dries up and its tenant base collapses, City A.M. has learned.
‘When markets are weak, that’s the time to strike’: FinnCap poised for deal offensive after Cenkos tie-up March 24, 2023 The boss of London-listed investment bank and brokerage FinnCap said the firm was gearing up for a deal offensive this year after announcing a £42m tie-up with rival Cenkos Securities yesterday. FinnCap is among a host of the City’s broking and advisory firms hit by a slowdown over the past 12 months as markets were [...]
Meet the City’s new enforcers: FCA calls in regulatory veteran and NCA boss to lead clampdown March 23, 2023 The Financial Conduct Authority has appointed two new chief enforcers today as it prepares to clampdown on financial crime and usher in contentious new consumer rules this year.
Can Tulip Siddiq get Labour’s City plans blooming? March 23, 2023 Labour's Shadow City minister talks facing off against her opposite number and the struggle for the Square Mile.
Adios Amigo? Lender set to wind down after failing to raise £15m survival cash March 23, 2023 Controversial lender Amigo loans is set to be wound down after failing to raise cash as part of an emergency turnaround plan.
UK ‘unicorn’ creation plummets as tech venture capital dries up March 23, 2023 The creation of so-called unicorns in the UK’s tech sector slowed by more than ten times last year as venture capital dried up and companies reined in their valuations to raise cash, new data has revealed.
Who’s going loco over Credit Suisse’s cocos? Here are the losers of the AT1 bond write-off March 22, 2023 Bond markets were sent into a spin across Europe this week after the move from Swiss regulator Finma to wipe out $17bn of Credit Suisse’s AT1, or coco, bonds, as part of a rescue deal from its rival UBS.
