News Nuggets | 5 December: Equals Updates on Acquisition; FCA Presents New Plans

<p>Equals Group's Strategic Acquisition and Share Issuance</p><p><a href="https://www.financemagnates.com/tag/equals/" target="_blank" rel="follow">Equals
Group plc</a>, a fintech payments company, has completed its acquisition of Roqqett
Limited, as previously announced in January 2023. Following this acquisition,
Equals Group has made significant movements in its equity. They have satisfied
the deferred payment conditions of the acquisition by allotting and issuing
ordinary shares.</p><p>Additionally, the company has allocated shares
to its Share Incentive Plan for eligible employees and to former employees
under its Discretionary Long-Term Incentive Plan. The company anticipates the
admission of these shares to trading on the AIM market, which is expected to change its shareholding structure significantly.</p><p>FCA Plans to Enhance
Credit Information Quality</p><p>The
Financial Conduct Authority (<a href="https://www.financemagnates.com/tag/fca/" target="_blank" rel="follow">FCA</a>) has proposed several measures to improve the
credit information market. These proposals aim to ensure that credit files more
accurately reflect consumers' financial situations. </p><p>Key
initiatives include mandating FCA-regulated data contributors to share credit
information with credit reference agencies, introducing a common data
reporting format, and empowering consumers to record non-financial
vulnerability information. </p><p>These
changes are expected to enhance competition, improve credit information
quality, and aid in more effective lending decisions, especially for those with
limited or poor credit records. An interim working group will oversee these
changes, with Jackie Keogh leading the group.</p><p>Fintel Plc's Strategic
Acquisition of Synaptic Software</p><p>Fintel Plc
has agreed to acquire Synaptic Software, an independent provider of financial
adviser planning and research software, for a net upfront cash consideration of
£3.5 million. This <a href="https://www.financemagnates.com/terms/a/acquisition/">acquisition</a> will be conducted through Fintel IQ, its
technology and knowledge platform. </p><p>Synaptic,
known for its efficient and outcome-enhancing products for financial advisers,
is expected to significantly contribute to Fintel's capabilities, scale, and
intellectual property. The deal aligns with Fintel's strategy to improve the
retail financial services market and is the latest in a series of acquisitions
aimed at consolidating its position in the market.</p><p>Nomura Appoints Tom
Scholar</p><p><a href="https://www.financemagnates.com/tag/nomura/" target="_blank" rel="follow">Nomura</a>, a
leading investment bank, has appointed Sir Tom Scholar, the former top civil
servant of the UK Treasury, as its Chairman of Europe. This move follows Scholar's
departure from the Treasury and is seen as a strategic step by Nomura to
leverage Scholar's extensive experience and understanding of the financial
sector. </p><p>Scholar’s
appointment marks a significant transition from public service to a key role in
the banking industry, emphasizing Nomura's focus on integrating government
expertise into its operations.</p><p>nuam exchange and Nasdaq's
Landmark Partnership</p><p>nuam exchange and Nasdaq, formed by the <a href="https://www.financemagnates.com/terms/m/merger/">merger</a> of the Santiago, Lima, and Colombia stock
exchanges, have entered into a strategic technology partnership. This
collaboration aims to develop a new marketplace in Latin America, leveraging
<a href="https://www.financemagnates.com/tag/nasdaq/" target="_blank" rel="follow">Nasdaq's </a>institutional-grade technology. </p><p>The
partnership is designed to create a unique, open market, integrating multiple
asset classes and expanding the range of products and services. The initiative
is expected to bolster the domestic economies of Chile, Peru, and Colombia, and
position nuam exchange as a significant player in the global exchange group.</p><p>DigiFT's Regulatory
Milestone in Singapore</p><p>DigiFT, a
digital assets exchange, has achieved a significant regulatory milestone by
obtaining a Capital Markets Services license and being recognized as a Recognized
Market Operator by the Monetary Authority of <a href="https://www.financemagnates.com/tag/singapore/" target="_blank" rel="follow">Singapore</a>.</p><p>This
recognition enables DigiFT to scale its services in primary market origination,
distribution, and secondary market trading for security tokens on the public
blockchain. </p><p>DigiFT's
platform, built on the Ethereum blockchain, focuses on offering liquidity for
security tokens backed by real-world assets. This development underscores
Singapore’s position as a hub for financial services and technological
innovation and marks a significant step in the convergence of digital assets
and traditional finance.</p><p>ITRS Present New Chief
Financial Officer</p><p>ITRS, a
leader in real-time estate monitoring and analytics software for global
financial institutions, has appointed James Colquhoun as its Chief Financial
Officer (<a href="https://www.financemagnates.com/tag/cfo/" target="_blank" rel="follow">CFO</a>). Colquhoun brings over 15 years of experience as a commercial CFO
in high-growth, international businesses. </p><p>“He has
worked with a range of businesses, supporting them to meet their growth
ambitions and achieve international expansion, added to this he has a deep
knowledge of the technology sector,” said Guy Warren, the CEO at ITRS.</p><p>Barclays' Branch Network
Reduction</p><p><a href="https://www.financemagnates.com/tag/barclays/" target="_blank" rel="follow">Barclays</a>, a
major UK bank, plans to close an additional 18 branches in 2024
to add to the already planned closures. This decision is part of a broader trend among
UK banks, including NatWest and Lloyds, to reduce their physical branch
networks due to changing customer behaviors and digital banking trends. </p><p>Barclays
emphasizes its commitment to maintaining an in-person presence through its
Barclays Local network and other initiatives like cashback services and
partnerships with the Post Office and Cash Access UK. </p><p>Riot Platforms Expands in
Bitcoin Mining</p><p>Riot
Platforms, Inc., a Bitcoin mining and data center hosting provider, has
announced a major expansion in its mining capacity. The company has placed a
significant order for the latest generation MicroBT Bitcoin miners, which will
increase its self-mining hash rate capacity. </p><p>This order,
primarily consisting of the M66S model, represents a total investment of $290.5
million and is part of Riot's strategy to maintain one of the most efficient
Bitcoin mining fleets globally. </p><p>Additionally,
Riot has secured purchase options for additional miners, providing a path to
exceed a 100 EH/s capacity in the future.</p>

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