News Nuggets | 27 November: Argo Welcomes New CEO; HIVE Acquires Swedish Data Center

<h1><span>Argo Blockchain Welcomes
New CEO</span><br></h1>
<p><span>Argo
Blockchain PLC has appointed Thomas Chippas as its new Chief Executive Officer.
With an extensive background in digital assets and financial services, Chippas
brings a wealth of experience to Argo, having held notable positions at CBOE
Digital, Citadel Technology LLC, and several major banks. </span></p>
<p>"Tom
is a proven technology and financial leader who will work with the Argo
leadership team to drive operational excellence and stakeholder value," Matthew
Shaw, the Chairman of <a href="https://www.financemagnates.com/tag/argo/" target="_blank" rel="follow">Argo </a>commented.</p>
<h2><span>HIVE Digital Acquires
Swedish Data Center</span></h2>
<figure data-media-><img src="https://images.financemagnates.com/images/HIVE%20Digital_id_fb703c8d-d94a-45a6-b3f6-024335b5ea4d_size260.jpg" alt="HIVE Digital" width="260" wrapper-="wrapper-" data-src="https://images.financemagnates.com/images/HIVE%20Digital_id_fb703c8d-d94a-45a6-b3f6-024335b5ea4d_size260.jpg" aspect-ratio="1" /></figure><p><a href="https://www.financemagnates.com/tag/hive-blockchain-technologies/" target="_blank" rel="follow">HIVE
Digital Technologies Ltd.</a> has announced the acquisition of a <a href="https://www.financemagnates.com//">data center</a>
facility in Boden, Sweden. This move is part of HIVE's strategy to enhance its
global presence and solidify its commitment to sustainable growth within the
digital technology sector. </p>
<p><span>The
acquisition, which includes the data center and the real property it is
situated on, is expected to contribute to HIVE’s growth and bolster its
emphasis on environmentally responsible operations. The deal involves a mix of
cash and common shares, with completion contingent upon regulatory approvals.</span></p>
<p><span>“The new
data center will enable HIVE to grow its regional footprint while further
demonstrating its commitment to its ESG focus, sustainable practices,
environmental responsibility, and energy efficiency with its newest 'green'
energy powered data center,” Johanna Thornblad, the President of HIVE Sweden,
commented.</span></p>
<h2><span>Nomura Strengthens QIS
Team with New Appointment</span></h2>
<p><a href="https://www.financemagnates.com/tag/nomura/" target="_blank" rel="follow">Nomura
International plc</a> has named Jérôme Brochard as the Global Head of QIS Structuring
and EMEA Head of QIS Distribution. Brochard, a veteran with over 25 years of
experience in the industry, joins from Credit Suisse and is tasked with leading
Nomura’s Quantitative Investment Strategies development and distribution. His
appointment is part of Nomura's strategic initiative to diversify its product
offerings and enhance client engagement within the QIS domain.</p>
<p><span>"His
extensive experience and expertise in quantitative investment strategies will
position us well to diversify our capabilities and support greater client
wallet capture,” John Goff, the Global Head of Structuring at Nomura, said.</span></p>
<h2><span>BoE and FCA Reaffirm
Effective Cooperation Framework</span></h2>
<figure data-media-><img src="https://images.financemagnates.com/images/FCA_id_dbaf0d3e-4b9c-4605-956f-ad99b418c16b_size260.jpg" alt="FCA" width="260" height="260" wrapper-="wrapper-" data-src="https://images.financemagnates.com/images/FCA_id_dbaf0d3e-4b9c-4605-956f-ad99b418c16b_size260.jpg" aspect-ratio="1" /></figure><p>The Bank of
England and the Financial Conduct Authority (<a href="https://www.financemagnates.com/tag/fca/" target="_blank" rel="follow">FCA</a>) have updated the status of
their Memorandum of Understanding (MoU) related to the supervision of financial
market infrastructures (FMIs). Following a consultation with FMIs in 2022, it
was concluded that the MoU still stands as an effective framework for
supervisory cooperation. </p>
<p><span>Both
institutions highlighted the avoidance of unnecessary duplication and confirmed
their ongoing commitment to improve cooperation, both domestically and
internationally, to support market infrastructure.</span></p>
<h2><span>FCA's Evaluation of IFPR
Implementation</span></h2>
<p><span>The FCA has published a final report on the review of investment firms' progress in
implementing the Investment Firms Prudential Regime (IFPR), specifically
focusing on the internal capital adequacy and risk assessment (ICARA) process.
While most firms have successfully transitioned to the new regulations, the FCA
pointed out areas that require further improvement. </span></p>
<p><span>These areas
include group ICARA processes, internal intervention points, and assessments
related to wind-down, <a href="https://www.financemagnates.com//">liquidity</a>, operational risk capital, and regulatory data
submissions. The FCA urges firms to take immediate action to align with the
findings to ensure compliance and to mitigate operational risks.</span></p>
<h2><span>FCA Issues
Warning against VentureXchange</span></h2>
<p><span>In a separate
update, the UK market watchdog has issued a warning about VentureXchange, a
firm suspected of offering financial services without authorization in the UK.
The FCA cautions against engaging with this firm and advises the public to be
vigilant about scams. </span></p>
<p><span>VentureXchange
is not authorized by the FCA and has been found to be using the name and
registration number of a legitimate UK company, PIX POINT CONSULTING LTD,
without any association. The FCA&nbsp;would like to remind consumers that engaging in unauthorized dealings
may&nbsp;result in their exclusion from protections offered by&nbsp;organisations, such as the Financial Ombudsman Service or
the Financial Services Compensation Scheme.</span></p>
<h2><span>SPB Exchange Refutes
Bankruptcy Claims amidst Sanctions</span></h2>
<p><a href="https://www.financemagnates.com/tag/russia/" target="_blank" rel="follow">Russia's
</a>second-largest stock exchange, SPB Exchange, has denied rumors of filing for
bankruptcy, which followed the imposition of U.S. sanctions leading to a
trading suspension. Despite initial reports based on arbitration court filings,
the exchange asserts it remains financially stable with no bankruptcy in sight.
</p>
<p><span>The
exchange's shares suffered a steep fall but saw a partial recovery as the
trading day progressed. The lack of clarity on the court filings has raised
concerns, with experts calling for a definitive explanation from SPB Exchange.</span></p>

<p><br></p>

This article was written by Damian Chmiel at www.financemagnates.com.