Monzo Fined £21m, FCA Says Customers Used ‘Downing Street’ and ‘Buckingham Palace’ as Addresses LeapRate

Sam Boughedda

LeapRate Analyst

July 09, 2025 BY Sam Boughedda

Monzo Fined £21m, FCA Says Customers Used 'Downing Street' and 'Buckingham Palace' as Addresses

The penalty, reduced from over £30 million, follows an FCA investigation into serious weaknesses in Monzo’s financial crime controls in a period when the digital bank grew rapidly to serve more than 12 million customers. The FCA found that Monzo failed to verify customer addresses for most personal account holders, despite stating it only served…

ATFX UK to allow more deposit and withdrawal options via Trustly

July 09, 2025 BY Sam Boughedda

ATFX Connect Hires Michael Mirarchi to Lead LATAM Institutional Sales Push

The strategic hire signals a push by the firm to expand its presence across the region’s fast-growing institutional trading market. Furthermore, it highlights ATFX’s broader commitment to strengthening its institutional offering, with a focus on tailoring services to professional clients in emerging markets. Mirarchi brings over 15 years of experience in institutional sales, brokerage, and…

July 09, 2025 BY Sam Boughedda

TipRanks Integrates with TradeStation Securities, Expands Trading Access

The company explained that the integration provides access to TradeStation Securities’ brokerage services through TipRanks’ interface, enabling retail investors to view, manage, and execute trades without leaving the platform. Furthermore, the integration is designed to support “smarter, faster decisions” by combining analytics with execution. “Providing our clients with intuitive and accessible trading solutions is core…

FINRA's 2018 volume tops 2017 activity by 87%

July 08, 2025 BY Sam Boughedda

Isaak Bond Investments Hit With Fine By FINRA

The violations are said to include failing to maintain the required net capital while conducting securities business. According to a Letter of Acceptance, Waiver, and Consent published by FINRA, the Colorado-based municipal bond dealer operated below its minimum capital requirements in March 2022, breaching the Securities Exchange Act and several FINRA rules. The regulator also…

July 08, 2025 BY Sam Boughedda

Euronext Launches First Phase of Multi-Year Repo Expansion Initiative

The initiative marks a significant expansion of Euronext’s clearing capabilities and is considered a key element of its Innovate for Growth 2027 plan. Announced on July 8, the company explained that the Repo Foundation aims to expand access to repo markets, improve collateral use, and challenge legacy clearing models. It builds on Euronext’s established presence…

Broadridge’s Fi360 and ProctorU partner to launch remote proctoring and identity management solution

July 08, 2025 BY Sam Boughedda

Broadridge Strengthens Banks’ Readiness for EU Instant Payment Rules

The fintech firm announced that seven financial institutions have already onboarded its service since its launch in late 2024, enabling real-time payments through connectivity with the European Central Bank’s Target Instant Payment Settlement (TIPS) system. “With instant payments now a regulatory necessity, financial institutions are actively looking for scalable and cost-efficient solutions that ensure seamless…

July 07, 2025 BY Sam Boughedda

Australian Regulator ASIC Bans Financial Adviser Barry King

In a statement released on July 7, the Australian Securities and Investments Commission (ASIC) said Mr King was “not a fit and proper person” to operate in the sector and was likely to breach financial services law again. ASIC said it found that Mr King concealed information from clients, submitted false documents, misused funds to…

July 07, 2025 BY Sam Boughedda

HKEX Announces Senior Appointments in Fixed Income and Currencies Business

Kevin Fan will join as Managing Director and Head of FIC Product Development on August 12, 2025. Reporting to Head of Markets Gregory Yu, HKEX said Fan will lead the development of new fixed-income products and enhancements to support investors’ trading and risk management needs. HKEX Chief Executive Officer Bonnie Y Chan said: “He [Kevin…

July 07, 2025 BY Sam Boughedda

Plus500 Revenue Rises 4% in H1 as Growing Futures Business Performs 'Extremely Well'

The fintech firm, which operates trading platforms across multiple asset classes, said EBITDA rose slightly to $185.1 million, maintaining a healthy 45% margin. Revenue in the second quarter alone was up 15% year on year to $209.3 million. Chief Executive David Zruia said, “Plus500 delivered further operational and financial progress in H1 2025,” adding that…

July 04, 2025 BY Sam Boughedda

Worldpay Adds Domestic Acquiring Capabilities in Thailand

The company said its entry into the market will enable global merchants to better serve Thai consumers. The move allows Worldpay to offer local currency settlements and access to popular alternative payment methods (APMs), including LINE Pay, TrueMoney, PromptPay, and online banking. The firm said Thai merchants will also benefit from the company’s suite of…