The payments giant said in a release Thursday that it indicates a consumer base willing to spend, albeit with a focus on value. The data aligns with Visa's recent holiday spending report, which recently reported a 4.8% year-on-year increase in holiday retail spending across the United States. Mastercard said online shopping remained a strong preference,…
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In a press release this week, the payments giant explained the data reflects total spending from all payment methods, including cash and cheque, over a seven-week period starting on 1 November 2024. The findings highlight a potential resurgence in consumer confidence and adaptability among retailers. Wayne Best, Visa’s chief economist, noted: “This spending growth demonstrates…
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The U.S. Securities and Exchange Commission (SEC) said Monday that it has filed charges against Connecticut-based Dolphin Associates III and its principal, Donald T. Netter, accusing them of withholding investor funds, charging excessive fees, and misleading investors. The SEC alleges that since November 2016, Dolphin and Netter improperly suspended withdrawals from a private fund they…
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The deal will see Fiserv pay C$201.5 million ($140 million) for the company and is expected to close in the first half of 2025. Payfare’s offerings, which include card program management, a white-label consumer app, and a microservices orchestration layer, are expected to bolster Fiserv’s embedded finance capabilities. Fiserv added that the solutions complement its…
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The admissions were made in civil proceedings brought by the Financial Markets Authority (FMA) in the High Court in Auckland. The issues centred on three package types, including Employee, Gold, and Platinum (EGP) packages, as well as personal and business banking packages. Customers entitled to various benefits under the schemes frequently did not receive the…
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It follows the Australian Securities and Investments Commission’s (ASIC) investigation, which revealed deficiencies in Sanlam Private Wealth Pty Ltd’s oversight of its authorised representatives and corporate authorised representatives (CARs). ASIC said in a press release Monday that it found Sanlam failed to supervise its 42 CARs and 71 authorised representatives adequately, many of whom offered…
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The court is said to have ruled that collapsed Union Standard International Group Pty Ltd (USG), along with its former authorised representatives BrightAU Capital Pty Ltd (trading as TradeFred) and Maxi EFX Global AU Pty Ltd (trading as EuropeFX), engaged in systemic unconscionable conduct and other legal breaches, resulting in customer losses exceeding $83 million…
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The fine follows a settlement agreement in which Seaport neither admitted nor denied the findings but accepted the sanctions to resolve the matter. According to FINRA, from March 2020 to June 2021, Seaport did not maintain adequate supervisory systems and written procedures for managing manual options transactions. The lapses are said to have included insufficient…
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The renewal was celebrated at an event attended by Nikos Antoniades, CEO of easyMarkets, and Emilio Butragueño, Real Madrid's Director of Institutional Relations. The renewed alliance aims to deliver exclusive experiences for clients in key markets while promoting a shared ambition and a winning mentality. Real Madrid, the most valuable football club in the world…
Read moreThe fund significantly surpassed its €1.4 billion target and is 65% larger than its predecessor, Evolution I, which closed at €1.2 billion in 2021. The firm noted "excess demand" from a diverse investor base, including notable increases in commitments from the Americas, contributed to Evolution II's success. Approximately 41% of investors hailed from Europe, with…
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