News Nuggets | 28 November: Ledger Partners with YouHodler; KX Launches AI Server

<p>Ledger and YouHodler
Partnership</p><p>YouHodler,
a Swiss-based Web3 platform, has partnered with <a href="https://www.financemagnates.com/tag/ledger/" target="_blank" rel="follow">Ledger</a> to enhance the Ledger
Live App, integrating trading capabilities. The partnership aims to provide
Ledger Live users with a more seamless experience in cryptocurrency trading and
investment, leveraging YouHodler's innovative platform. The companies aspire to
bridge traditional financial services with the digital asset world, offering an
exclusive offer to Ledger users.</p><p>"This
enhancement aims to provide Ledger Live users with a frictionless pathway to
explore and engage in cryptocurrency trading, empowering them to make the most
of their digital assets directly within the Ledger Live ecosystem,” said Ilya
Volkov, the CEO at YouHodler.</p><p>Mastercard and Warply Team
Up in MENA</p><p><a href="https://www.financemagnates.com/tag/mastercard/" target="_blank" rel="follow">Mastercard
</a>and Warply have announced a collaboration to drive digital transformation in
the Middle East and North Africa (MENA) region. They plan to introduce
card-linked offers, cross-country reward programs, and seamless redemption
experiences. This strategic alliance, underpinned by a memorandum of
understanding, will cater to the digital needs of government entities,
large merchants, and banks across key MENA markets.</p><p>“Warply’s
success speaks to the power of Mastercard’s award-winning Start Path program,
and we look forward to deepening our relationship as we further fuel digital
transformation across the markets we serve,” J.K. Khalil, the Cluster General
Manager for MENA East at Mastercard, said.</p><p>FCA Clone Firm Alerts</p><p>The
Financial Conduct Authority (<a href="https://www.financemagnates.com/tag/fca/" target="_blank" rel="follow">FCA</a>) has issued an alert regarding a <a href="https://www.financemagnates.com/terms/c/clone/">clone</a> firm,
Netwealth Capital Investments Limited/Netwealth Capital, which is mimicking an
FCA-authorized entity to deceive individuals. A similar warning has been
released for another clone firm, CWG Markets/CWG Foreign Exchange. </p><p>The clone
firms have been reaching out to people, falsely claiming to be an authorized
firm. The FCA has published the scam firms’ details, warning the public not to
engage with them. </p><p>KDB.AI Server Edition
Launch</p><p><a href="https://www.financemagnates.com/tag/kx/" target="_blank" rel="follow">KX</a> has
launched KDB.AI Server Edition, designed for enterprise-scale generative AI
applications. The vector database is optimized for time-oriented data and can
be deployed easily across various environments. It addresses the challenge of
scaling AI applications, providing businesses with data processing and search
functionality necessary for large-scale operations.</p><p>"The
debut of KDB.AI Server Edition marks a transformative step in enterprise AI,” Ashok
Reddy, the CEO of KX, commented.</p><p>Nomura SPARX Invests in
ThinkCytes</p><p><a href="https://www.financemagnates.com/tag/nomura/" target="_blank" rel="follow">Nomura
</a>SPARX Investment has invested in ThinkCyte, a biotech company specializing in
cell analysis and sorting technology. This investment is expected to contribute
to advancements in regenerative medicine, cell therapy, medical testing, and
drug discovery, reinforcing Nomura's commitment to innovation in life sciences.</p><p>BBY Employee Charged</p><p>The
Australian Securities and Investments Commission (<a href="https://www.financemagnates.com/tag/asic/" target="_blank" rel="follow">ASIC</a>) has charged a former
employee of the stockbroking firm BBY Limited with aiding and abetting the
firm's dishonest conduct. The charges relate to the improper transfer of client
funds, with the case set for a court mention in February 2024.</p><p>“Each
offence carries a maximum penalty of 10 years’ imprisonment, or a fine of 4,500
penalty units ($765,000) or three times the total value of benefits obtained
(or both). The maximum period of imprisonment has subsequently been increased,”
<a href="https://www.financemagnates.com/terms/a/asic/">ASIC</a> commented.</p><p>Foundation Advice
Limited’s License Cancellation</p><p>New
Zealand's Financial Markets Authority (<a href="https://www.financemagnates.com/tag/fma/" target="_blank" rel="follow">FMA</a>) has canceled the Financial Advice
Provider license of Foundation Advice Limited (FAL) following the company's
liquidation. The FMA advises FAL's clients to contact product providers to
ensure their financial needs continue to be met.</p><p>SEC Rule to Combat
Conflicts of Interest</p><p>The
Securities and Exchange Commission (<a href="https://www.financemagnates.com/tag/sec/" target="_blank" rel="follow">SEC</a>) has adopted Rule 192 to prevent
conflicts of interest in securitizations. The rule, fulfilling a Dodd-Frank Act
mandate, prohibits securitization participants from engaging in transactions
that could materially conflict with the interests of investors.</p><p>“I am
pleased to support this rule as it fulfills Congress’s mandate to address
conflicts of interests in the securitization market, a market which was at the
center of the 2008 financial crisis,” said Gary Gensler, the Chairma of SEC.</p><p>FINRA Fines TD Private
Client Wealth</p><p><a href="https://www.financemagnates.com/tag/finra/" target="_blank" rel="follow">FINRA</a> has
fined TD Private Client Wealth LLC $600,000 for failing to establish a
supervisory system to comply with correspondence review obligations. The firm
failed to review millions of emails, highlighting the importance of robust
compliance measures in financial institutions.</p>

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