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6 days ago | leaprate.com | Sam Boughedda

The move comes not long after it was announced that Hidden Road was acquired by Ripple for $1.25 billion. The licence enables Hidden Road to offer a wider range of regulatory-compliant services—including clearing, financing and execution—to institutional clients in the fixed income market. The firm’s platform already includes Fixed Income Repo and Global Funding services. However, the approval allows for further growth in traditional financial markets.

6 days ago | leaprate.com | Sam Boughedda

Announced on Thursday, the partnership allows MoneyGram users in the US to authenticate their bank accounts through Plaid’s financial network. The service is expected to improve the MoneyGram Online experience. It is expected to scale to additional markets later this year. “The MoneyGram network moves money for over 50 million customers each year, across nearly every country in the world,” said Anthony Soohoo, Chief Executive Officer at MoneyGram.

1 week ago | leaprate.com | Sam Boughedda

The increase was driven by $3.6 billion in net flows and $1.5 billion from other factors, partially offset by $1.1 billion in negative investment performance. The group’s long-only strategies saw the most notable growth, with discretionary long-only assets rising by $4.4 billion to $33.2 billion, led by strength in credit and convertibles. Man Group estimated AUM was $167 billion as of 14 April, with net management fees of around $1.02 billion.

1 week ago | leaprate.com | Sam Boughedda

Under the terms of the agreement, IAMI will provide investment advisory services to BNPP AM Europe in relation to an investment fund. The firm explained that the deal forms part of an ongoing distribution arrangement between Impax and BNP Paribas Asset Management across several international markets. As part of the agreement, BNPP AM Europe will pay IAMI a quarterly fee calculated as a percentage of the assets under management.

1 week ago | leaprate.com | Sam Boughedda

According to a Letter of Acceptance, Waiver, and Consent (AWC) published by the regulator, the New York-based investment banking firm failed to establish and implement policies and internal controls reasonably designed to comply with the Bank Secrecy Act. Notably, FINRA says the firm did not respond in a timely manner to Financial Crimes Enforcement Network (FinCEN) requests in 2021 and failed to conduct required annual independent AML testing in 2020 and 2022.