Hundreds of crypto firms fail FCA money laundering test

Just 13% of crypto firms that applied for authorization under the Financial Conduct Authority’s money laundering rules over the past two years have been successful. The regulator has received a flood of applications under the Fifth Anti-Money Laundering Directive — Read more

Goldman, JPMorgan ring-fencing talks stoke fears of weakened rules

Goldman Sachs and JP Morgan scored meetings with a high-profile panel looking into the future of ring-fencing reforms, raising concerns about the role of big banks in crafting the financial guardrails. The meetings came as the Treasury sets up a Read more

6 of the 10 US housing markets most vulnerable to a downturn are in this state

Some real estate markets are more vulnerable to a downturn than others. Getty Images Six of the 10 counties most vulnerable to a downturn are in New Jersey, according to a Special Housing Risk Report — which looked at the Read more

Ex-JPMorgan traders accused of spoofing as $ 1bn case heads to court

Two former precious metals traders at JPMorgan Chase and a co-worker who handled hedge fund clients face trial starting 8 July in the climax of a seven-year Justice Department campaign to punish alleged market manipulation. The criminal trial in Chicago Read more

FCA’s failings on P2P lending raise concerns about crypto approach

The revelation that a cryptocurrency lobbyist donated £ 500,000 to the Conservative Party two months before the government pledged to turn the UK into a global crypto hub has raised concerns about whether party funding is influencing financial policy. Tulip Read more

Hedge fund adviser Patrick Ghali on crypto, ESG and why clients are dumping’any exposure to China’

Patrick Ghali, co-founder of hedge fund advisory Sussex Partners, talks with Financial News about how his clients are adapting to this year’s sharp downturn in markets and how they’re positioning for a recession, a crypto winter and sustainable investing. His Read more

Leon Black rebuffed in Apollo conspiracy claim

A federal judge dismissed a case brought by former Apollo Global Management chief executive Leon Black alleging that his former partner and others conspired to destroy his reputation and push him out of the firm. Black last October filed a Read more

Investment bank fees fall by $ 24bn as deal boom loses steam

Dealmaking fees at top investment banks slumped by as much as 56% during the first half of 2022, as recessionary fears and rising interest rates have halted a boom that broke records last year. A sharp downturn in equity capital Read more