The FCA has fined the London branch of Macquarie Bank £13 million for “serious failings” that allowed one of its employees to record over 400 fictitious trades.

JP Morgan has rebranded its Onyx blockchain unit as Kinexys by JP Morgan as the banking giant prepares to bring the technology into mainstream financial services.

UK-based challenger bank Starling is considering listing on the New York Stock Exchange as part of its US expansion plans.

Failure to adapt to consumers’ increased use of AI could see banks lose as much $170bn, according to a report from McKinsey.

British financial regulators have fined Citigroup £61.7 million over a $444 billion fat finger error that led to a $1.4bn sell off of equities in European markets.

Almost three-quarters (73%) of executives working in financial services expect to eventually be replaced by Generative AI (GAI), according to a recently released study.

Australian banks and their internal audit teams need to pay more attention to the risks posed by legacy technology and an over reliance on a select number of cloud providers, according to the industry’s watchdog.

Swiss bank UBS has announced a series of changes to its executive team including a reshuffle of its operations and technology roles.

Kicking off Sustainable Finance Live 2023 at Events@no6 in London, founder of ResponsibleRisk Richard Peers, highlighted the objective of this year’s event, to bring people together in their likeminded desire to drive sustainability in their work.

The EC is planning to move regulation of cryptocurrency firms, stock exchanges and clearing houses from national watchdogs to the European Securities and Markets Authority (Esma).

Deutsche Börse is teaming up with crypto exchange Kraken in a bid to bridge traditional financial markets and the digital asset economy, spanning trading, custody, settlement, collateral management, and tokenised assets.

Indian payments company Pine Labs is reportedly seeking to raise more than $430m from its upcoming IPO in Mumbai.

Yahoo has acquired Commonstock, a social platform that lets retail investors link their brokerage accounts and share their portfolio’s performance and discuss their trades and strategies. Terms of the deal were not disclosed.

The British government has sold £1.24 billion of its shares in NatWest Group, cutting its stake from 26% down to 22.5% in share sale.

AI startup Bridgewise has been given the green light by Israeli regulators to launch a chatbot that gives advice on buying and selling stocks.