Fintech
SEC Announces Departure of Chief of Staff Prashant Yerramalli and Appointment of Amanda Fischer to the Role
Washington, D.C.–(Newsfile Corp. – November 7, 2022) – The Securities and Exchange Commission today announced that Chief of Staff Prashant Yerramalli will leave the agency, effective Dec. 31, 2022. Amanda Fischer, currently Senior Counselor to Chair Gary Gensler, will be appointed Chief of Staff, effective upon Mr. Yerramalli’s departure.
“I have the deepest appreciation for Prashant. His counsel, judgment, and leadership have been invaluable to the agency and me,” said Chair Gensler. “He has a deep understanding of the capital markets and the SEC. He is a wonderful colleague who has earned the respect of everybody who has had an opportunity to work with him. Working with Prashant has been a joy, and his many contributions to the SEC have made our markets stronger.”
“Amanda has been one of my most trusted advisers both since joining the SEC and during the Biden-Harris transition,” Gensler added. “She is a remarkable talent with an exceptional background in policymaking from her time on Capitol Hill and at the agency. She has a firm grasp of complex regulatory issues in the capital markets. I’m delighted that she will be taking on this new role.”
Mr. Yerramalli has served as the SEC’s Chief of Staff since Jan. 20, 2021, initially under Acting Chair Allison Herren Lee and subsequently under Chair Gensler upon his swearing in on April 17, 2021. Mr. Yerramalli has served as one of Chair Gensler’s lead advisers and has worked with Commission staff on all aspects of the agency’s mission, including rulemaking and policy, enforcement, strategy, personnel, management, operations, communications, and legislative affairs. During his tenure as Chief of Staff, Mr. Yerramalli worked with Chair Gensler and agency staff as the SEC pursued a regulatory agenda to advance the interests of working families and to aggressively hold wrongdoers to account. He first joined the Commission in 2014 as an attorney in the Division of Enforcement and served in the Division’s Asset Management Unit. He later served as a senior counsel to former Commissioner Robert J. Jackson Jr., whom he advised on enforcement and rulemaking.
Outside of the SEC, Mr. Yerramalli held roles at Brookfield Asset Management, Jenner & Block, and WilmerHale. He began his career in public service as a law clerk to the Hon. Naomi Reice Buchwald in the Southern District of New York. He received a J.D. from Harvard Law School and an A.B. from Brown University.
“As my thousands of colleagues across the country know, the SEC is a special place, and it is a privilege to be a part of it,” Mr. Yerramalli said. “It has been an honor to work with Chair Gensler to lead the dedicated staff of this agency and to work with him and the other Commissioners to improve the financial futures of American families. I could not be more grateful for the opportunity that I have had to serve in this role, and I’m confident that the agency and the investing public will be well-served by Amanda when she takes over as Chief of Staff.”
Ms. Fischer has served as Senior Counselor to Chair Gensler since June 2021. She is one of Chair Gensler’s principal advisers, focused on rulemaking and interagency work. Immediately before joining the SEC, Ms. Fischer was the Policy Director at the Washington Center for Equitable Growth, a non-partisan research organization focused on economic policy. Earlier in her career, she worked for more than a decade on Capitol Hill in roles related to financial services policymaking, including as Chief of Staff for Congresswoman Katie Porter, Professional Staff on the Senate Committee on Banking, Housing and Urban Affairs, as a Policy Advisor for Sen. Catherine Cortez Masto, and as Deputy Staff Director for the House Committee on Financial Services. She graduated with bachelor’s degrees in business administration and public policy from the University at Buffalo and an M.A. in public policy from Georgetown University.
“I thank Prashant for his service to the SEC,” said Ms. Fischer. “I developed a deep respect for the Commission through my career working on investor protection and capital formation issues, and my respect for the staff has grown deeper in my time at the agency. I am honored that Chair Gensler has given me the opportunity to continue to work alongside the agency’s dedicated staff to support our mission.”
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
The post Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets appeared first on .
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
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