News Nuggets | 24 July: Revolut Debuts Joint Accounts in the UK; Tradefeedr Hires New Exec

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US and UK’s
Regulators Fine UBS $388M</p><p>Swiss lender <a href="https://www.financemagnates.com/tag/ubs/" target="_blank" rel="follow">UBS</a> has been ordered to pay
USD $388 million to the US and UK regulators over the dealings of Credit Suisse
with the private investments company Archegos Capital Management.</p><p>According to a
statement shared with Reuters today (Monday), the Federal Reserve has fined the
lender USD $268 million for alleged misconduct in the dealings. The regulators
said that Credit Suisse, which has since been acquired by UBS, failed to
address risk management concerns in Archegos.</p><p>Swissquote
Renews Sports Sponsorship Deal with Hockey Club ZSC Lions</p><p>Swiss online
brokerage company <a href="https://www.financemagnates.com/tag/swissquote/" target="_blank" rel="follow">Swissquote</a>
has extended its sponsorship deal with the Zurich –based national league hockey
club ZSC Lions for three years. The contract was signed in 2021, allowing the
brokerage firm to strengthen its presence in Zurich.</p><p>Jan De Schepper,
the CSO of Swissquote, said: "We are pleased to continue working with the ZSC
Lions, one of the most popular and ambitious ice hockey clubs in Switzerland.
Together with the Lions, we can achieve our goals, namely increasing our brand
awareness and anchoring our important location in Zurich."</p><p>Barclays Names
Ricardo Fernandez, New Head of Investment Banking for Mexico</p><p><a href="https://www.financemagnates.com/tag/barclays/" target="_blank" rel="follow">Barclays</a> has appointed
Ricardo Fernandez as Head of Investment Banking for Mexico. Fernandez will
report to the Chairman and CEO of Barclays in Mexico and Latin America, Raul Martinez-Ostos, according to a statement issued by the company today (Monday).</p><p>Commenting about
the new appointment, Martinez-Ostos said: "Under Ricardo's leadership of
our Advisory, DCM, and Risk Solutions Group (RSG), these closely integrated
teams continue to grow and thrive, and our clients will benefit from the unique
and powerful locally focused construct."</p><p>
Revolut Rolls Out Joint
Accounts in the UK</p><p><a href="https://www.financemagnates.com/tag/revolut/" target="_blank" rel="follow">Revolut</a>, a
widely used global financial super app, has unveiled its Joint Accounts product
in the UK, following its success with over 100,000 joint users throughout the
EEA. The Joint Accounts feature allows customers to set up an additional
account within the app, co-owned by two people, which could include partners,
family members, or friends. It aims to bring added flexibility in money
management, allowing users to pool resources and effectively manage shared
budgets.</p><p>The newly
launched Joint Accounts are designed to foster financial flexibility and
inclusivity, catering to the needs of various customer relationships. Through a
user-friendly account setup process, consisting of three simple steps, Revolut
is striving to challenge the stigma surrounding joint account creation. Joint
Accounts along with Revolut &lt;18 can serve as the hub of family finance but are also intended for all duos, such as partners, siblings, roommates, or
friends.</p><p>Tradefeedr Onboards Head
of Client Engagement</p><p>Tradefeedr,
a top independent FX Data Analytics Platform, has announced the appointment of
Georgia Frett as the Head of Client Engagement. In her new position, Frett will
be tasked with expanding the community of Liquidity Providers (LPs), buy-side
clients, and trading platforms. Frett's appointment comes after her
successful tenure at The Finance Hive, where she held the position of General
Manager, FX, and worked extensively to develop a network addressing industry
issues and driving changes in the FX market.</p><p>Georgia
Frett's arrival at <a href="https://www.financemagnates.com/tag/tradefeedr/" target="_blank" rel="follow">Tradefeedr </a>is a significant step forward for the company,
according to Balraj Bassi, the Co-Founder and CEO of Tradefeedr. Bassi noted that
having established the technology and accrued a core group of sell-side
clients, major buy-side firms, and trading platforms, Frett's task will be to foster
further the user community, a feat she accomplished at The Hive. </p><p>Frett
herself has remarked that her conversations with trusted FX market contacts
have revealed a highly positive perception of Tradefeedr as a reliable,
independent data layer provider.</p><p>Plus500 Secures EGM
Approval for Share Buyback Program</p><p><a href="https://www.financemagnates.com/tag/plus500/" target="_blank" rel="follow">Plus500</a>, a
global multi‐asset fintech group providing proprietary technology‐based trading
platforms, has announced the positive outcome of the resolution proposed at the
recently held Extraordinary General Meeting (EGM). The proposed resolution was
passed by the necessary majority, allowing for the continuation of the existing
share buyback program launched on 14 February 2023. In addition, it also gives
Plus500 the ability to make future purchases of ordinary shares before the company's
2024 AGM, subject to the Board's discretion.</p><p>The
resolution's detailed voting outcomes indicate that approximately 80.66% of the
votes cast were in favor of the share buyback proposal. The approved resolution
will be made available for public inspection through the National Storage
Mechanism shortly. The voting results' availability and the specifics of the
resolution can also be found on the company's website. The result of the EGM is
a key step in Plus500's plans for capital management.</p><p>CNMV Issues Warnings on
Several Entities</p><p>The
National Securities Market Commission (<a href="https://www.financemagnates.com/tag/cnmv/" target="_blank" rel="follow">CNMV</a>) has issued a series of warnings
against multiple entities. The CNMV has raised concerns about these entities as
they are not registered with the relevant registry of the Commission, rendering
them unauthorized to provide investment services or other activities subject to
CNMV's supervision. This warning list is a measure by the CNMV to ensure
investor safety and transparency in financial transactions.</p><p>Among the
entities listed are EUFXBANK, AWFX BANK, AW FX BANK CORPORATION, NORDIK
MARKETS, EUROCRYPTOFX, MINT CAPITAL FX, JUKEBOX CAPITAL INC, and others. The
CNMV warns investors to exercise caution while dealing with such entities and
encourages them to check the registration status of any institution before
investing.</p><p>The rest of the article is below the screenshot:</p><p>Amy Yip Joins TP ICAP</p><p>TP ICAP, a
leading provider of market infrastructure, has announced the appointment of Amy
Yip as an Independent Non-executive Director and APAC Workforce Engagement
Director, effective from 1 September 2023. Yip brings an extensive career in
asset management, banking, insurance, and regulation to the table, having held
positions with some of the biggest global players in China and Southeast Asia.</p><p>Prior to
her appointment at <a href="https://www.financemagnates.com/tag/tp-icap/" target="_blank" rel="follow">TP ICAP</a>, Yip served on the Supervisory Boards of Deutsche
Börse AG, Temenos Group AG, Fidelity Funds, and was an Executive Director of
Reserves Management at the Hong Kong Monetary Authority. She also continues to
serve as an advisor to Vita Green, Hong Kong, and is a founding partner of RAYS
Capital Partners Limited, a Hong Kong-based investment management company
specializing in Asian capital markets.</p><p>Karin Yorfido Named
President of Broadridge Canada</p><p>In response
to the continued growth of the Canadian market, <a href="https://www.financemagnates.com/tag/broadridge/" target="_blank" rel="follow">Broadridge Financial Solutions,
Inc. </a>has announced the appointment of Karin Yorfido as President of Broadridge
Canada. Yorfido succeeds Michael Dignam, who will assume the role of Vice
Chairman of Broadridge Canada in an advisory capacity. She brings with her over
25 years of experience in financial services and software solutions, including
her tenure as the Executive Vice President of Business Development &amp; Client
Solutions at RPM Technologies.</p><p>As the new
leader, Yorfido will be responsible for Broadridge's Investor Communication
Solutions (ICS) Canada and Global Technology and Operations (GTO) Canada
businesses. She will report directly to Chris Perry, the President of
Broadridge</p><p>bunq Obtains €100m in
Growth Capital</p><p>Amsterdam-based
neobank, <a href="https://www.financemagnates.com/tag/bunq/" target="_blank" rel="follow">bunq</a>, has successfully secured an additional €44.5 million in growth
capital, raising the total capital inflow to nearly €100 million for this year. The
fresh injection of funds is set to enable bunq to accelerate its international
expansion further and maintain its rapid growth trajectory. The funding round
was joined by current investors Ali Niknam, Pollen Street Capital and Raymond
Kasiman, who committed to an investment valuation of €1.65 billion,
notwithstanding the market downturn this year.</p><p>This fundraising
round comes on the heels of a record-breaking year for bunq. The challenger
bank recently achieved a user base of 9 million across Europe and doubled its
user deposits in merely four months, surpassing €4.5 billion. In 2021, bunq
raised €193 million, marking the largest series-A ever raised by a European fintech
and valuing the company at €1.65 billion.</p><p>EasyMarkets Offers 1:2000
Leverage</p><p>Forex
trading platform <a href="https://www.financemagnates.com/tag/easymarkets/" target="_blank" rel="follow">easyMarkets </a>has announced the availability of 1:2000 leverage
on its MT5 platform. The updated leverage will allow easyMarkets clients to
hold larger positions with lower margins, access more expensive investment
options, execute higher volumes with a lower budget, and potentially amplify
their winning trades.</p><p>Clients
currently trading with easyMarkets on MT4 can readily upscale their leverage to
1:2000 simply by downloading the MT5 platform on their preferred device and
registering. Those who had synced their easyMarkets account to MT5 before the
leverage increase will find that the higher 1:2000 leverage will automatically
apply to their account after contacting their account manager.</p>

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