Fintech
Chair Gensler Announces Composition of Policy Team
Washington, D.C.–(Newsfile Corp. – July 16, 2021) – The Securities and Exchange Commission today announced the appointments of Corey Klemmer, Adam Large, Mika Morse, Sirimal Mukerjee, and Sai Rao to Chair Gary Gensler’s policy staff, led by the Policy Director Heather Slavkin Corzo.
“I am pleased that Corey, Adam, Mika, Sirimal, and Sai are joining our dedicated staff of public servants to work on behalf of American investors,” said SEC Chair Gensler. “Each of their respective portfolios is critical to the SEC’s mission. I look forward to working with these highly respected advisers to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.”
“Corey, Adam, Mika, Sirimal, and Sai add extensive expertise and experience to Chair Gensler’s policy team,” said Ms. Slavkin Corzo. “I’m excited to work with this team to advance the SEC’s ambitious rulemaking agenda on behalf of the American public.”
Corey Klemmer
Corporation Finance Counsel
Corey Klemmer focuses on policies designed to ensure that investors are provided with material information in order to make informed investment decisions, both when a company initially offers its securities to the public and on an ongoing basis as it continues to give information to the marketplace. Most recently, she served as Director of Engagement for Domini Impact Investments LLC. Previously, she served as an analyst at the AFL-CIO Office of Investment. Ms. Klemmer graduated cum laude from Amherst College with a B.A. in Law, Jurisprudence, and Social Thought and earned her J.D. from Tulane University Law School. Ms. Klemmer is a barred attorney in New York and is a CFA charter holder.
Adam Large
Trading and Markets Counsel
Adam Large focuses on day-to-day oversight of the major securities market participants with a focus on broker-dealers and security-based swaps. Previously, he held positions in the Division of Economic and Risk Analysis, the Division of Examinations, and as Counsel to Commissioner Caroline A. Crenshaw. Prior to joining the SEC in 2014, Mr. Large worked at the Financial Industry Regulatory Authority. Mr. Large received his B.A. from University of Iowa and his J.D. from Washington University in St. Louis.
Mika Morse
Climate Counsel
Mika Morse serves as the lead policy advisor on climate-risk finance issues. Immediately before joining the SEC, Ms. Morse served as senior counsel and deputy legislative director for U.S. Senator Brian Schatz. In this role, she was responsible for developing and implementing the Senator’s legislative priorities on the Banking Committee, Commerce Committee, and Appropriations Committee. Previously, Ms. Morse was an international trade associate at Sidley Austin in Washington, D.C., and she served as a law clerk to the Honorable Stephen Robinson in the Southern District of New York. Ms. Morse received her J.D. from Yale Law School and a B.A. from Harvard College.
Sirimal Mukerjee
Investment Management Counsel
Sirimal R. Mukerjee counsels Chair Gensler on matters related to investment companies and investment advisers. Previously, he served as a Branch Chief in the Investment Adviser Regulation Office in the Division of Investment Management’s Rulemaking Office, where he worked on the development of policy and rulemakings relating to investment advisers, private funds, and investment companies. Mr. Mukerjee also served as Senior Counsel in both the Office of Capital Markets Trends and the Disclosure Review Office in the Division of Corporation Finance, and as Counsel to Commissioner Kara M. Stein. Prior to joining the SEC, Mr. Mukerjee worked in the New York offices of Simpson Thacher & Bartlett LLP and Paul Hastings LLP. Mr. Mukerjee received a J.D. from Brooklyn Law School, where he was an Articles Editor of the Brooklyn Law Review, and a B.A., with distinction, from the University of Pennsylvania.
Sai Rao
Trading and Markets Counsel
Sai Rao focuses on day-to-day oversight of the major securities market participants with a focus on market structure. Prior to assuming this role, Mr. Rao worked in the Office of Financial Intermediaries as a financial economist in the SEC’s Division of Economic and Risk Analysis. In his five years with the Commission, he has worked on a number of projects, ranging from implementing Title VII regulations on security-based swaps, implementing clearing agency reforms, reviewing new exchange-traded products, and coordinating international efforts to protect financial stability. Prior to working at the SEC, Mr. Rao worked for a financial regulatory reform think tank and a data analytics start-up. He is a graduate of The University of Texas at Austin and Harvard Law School and has a Master of Financial Economics from the University of Oxford.
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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