Fintech
SEC Highlights Investor Protection for World Investor Week 2021
Washington, D.C.–(Newsfile Corp. – October 4, 2021) – The Securities and Exchange Commission today announced that it will highlight investor education and protection resources during World Investor Week 2021 (WIW). This marks the fifth year of WIW, a global effort promoted by the International Organization of Securities Commissions (IOSCO) that brings together regulators on six continents to raise awareness about the importance of investor education and protection. The SEC is once again serving as the national coordinator in the U.S. working with the U.S. Commodity Futures Trading Commission, Financial Industry Regulatory Authority, National Futures Association, and North American Securities Administrators Association. Together with these organizations, the SEC’s Office of Investor Education and Advocacy (OIEA) issued a joint Investor Bulletin today to promote WIW’s key messages. Investor education and protection resources are available at Investor.gov.
During WIW, SEC staff will host outreach events on the benefits of investing early, making informed investment decisions, creating an investment plan, and understanding the risks and fees associated with investments; conducting a background check on an investment professional; recognizing the power of compounding interest; and learning how to avoid fraud.
“Investor protection is at the core of the SEC’s mission, and we are proud to serve as the national coordinator in the U.S. for World Investor Week,” said SEC Chair Gary Gensler. “We especially hope to reach younger investors, first-time investors, and investors in underserved communities. As markets and technology evolve, more investors than ever are able to access our capital markets. I encourage investors at every stage to take advantage of resources available at Investor.gov and ongoing outreach events in communities across the country.”
For the first time ever, Chair Gensler issued a WIW kick-off video underscoring the importance of this global initiative, and created a new “Office Hours with Chair Gensler” video about the basics of investing that will be published on his Twitter page on Wednesday. Through his new “Office Hours” videos, Chair Gensler speaks directly and plainly to America’s investors on timely topics, such as digital engagement, cryptocurrencies, climate risk disclosure, and risks involving investing in China and off-shore shell companies.
The SEC’s World Investor Week page highlights a “Term of the Day” along with corresponding video clip with definitions about microcap stocks, day trading, ESG (environmental, social, governance) investing, fractional shares, margin accounts, special purpose acquisition companies (SPACs), and index funds. On the same webpage, investors can access an investing quiz to test their knowledge of the “Term of the Day” and other key messages and themes from WIW. In addition, staff will highlight the importance of thoroughly researching and understanding the risks of online investing and investing in digital assets.
“Knowledge is power, and the best way to protect yourself is to learn investing basics, understand the risks involved with every investment opportunity, and create a long-term plan that best meets your financial goals,” said Lori Schock, Director of the SEC’s Office of Investor Education and Advocacy. “It’s especially important for first-time investors to take advantage of the online resources on Investor.gov. It’s a great first step toward protecting your money and learning how to build a smart saving and investing plan for your financial future.”
For WIW, Ms. Schock posted a new Director’s Take article, “Taking Stock in Teen Trading.” that speaks directly to parents and teens about the importance of forming a parent/teen investment partnership early on. In the article, she discusses topics such as teen trading accounts, social media influence, and apps. Through her Director’s Take articles, Ms. Schock provides investors with helpful information on timely topics.
SEC staff WIW outreach events include:
- Saving and investing presentations and webinars for diverse communities nationwide, libraries, students, teachers, seniors, and military service members;
- Presentations to college students, including an event with students from Historically Black Colleges and Universities (HBCUs) in which students will be able to ask questions of Chair Gensler;
- A Facebook Live event with AARP;
- Radio interview with Lori Schock on topics important to seniors; and
- Thrift Savings Plan (TSP) program for federal employees.
To see a list of other SEC outreach activities or learn more about WIW, please visit the SEC’s World Investor Week page.
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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