Markets

What is the FDIC?

The FDIC is an independent US organization that deposit insurance to consumers and holds banks accountable.
What is the FDIC?
News

Australia’s buy now, pay later players have officially released their own rulebook, promising caps on late fees and self-imposed sanctions for rule-breakers

Australia’s buy now, pay later sector has introduced its new, self-regulatory code of practice, promising sanctions against dodgy operators. The Code will see signatories freeze late fees for customers in financial hardship and undertake credit checks before approving hefty transactions. But it is unlikely to sway consumer advocates, who have […]
Australia’s buy now, pay later players have officially released their own rulebook, promising caps on late fees and self-imposed sanctions for rule-breakers
Markets

Reddit and Robinhood are testifying to Congress today about GameStop’s unlikely rally. Here’s what’s going on.

Here’s everything to know ahead about today’s House hearing regarding GameStop’s unexpected rally. Committee Chair Maxine Waters said hedge funds are responsible for predatory conduct. Reddit sided with individual investors and Robinhood explained why it restricted trading. Visit the Business section of Insider for more stories. The House Committee on […]
Reddit and Robinhood are testifying to Congress today about GameStop’s unlikely rally. Here’s what’s going on.
Markets

The Reddit-fuelled GameStop rally is reportedly under federal investigation for possible market manipulation — and Robinhood has been subpoenaed

Federal regulators and prosecutors are probing the GameStop trading phenomenon, The Wall Street Journal reported. Authorities are investigating whether the army of Reddit traders partook in market manipulation. Robinhood and other brokers involved in the trend have been subpoenaed, according to the report. Sign up here for our daily newsletter, […]
The Reddit-fuelled GameStop rally is reportedly under federal investigation for possible market manipulation — and Robinhood has been subpoenaed
Markets

GameStop stock-trading star Keith Gill — also known as Roaring Kitty — is reportedly under investigation as regulators look at his previous financial-advisement job

Keith Gill, the trader known on Reddit for reaping hefty gains from GameStop’s recent stock spike, is under investigation, The New York Times reported. Gill rose to internet fame as pseudonyms Roaring Kitty and u/DeepFuckingValue when GameStop skyrocketed. Regulators are probing whether his investment broke rules associated with his job […]
GameStop stock-trading star Keith Gill — also known as Roaring Kitty — is reportedly under investigation as regulators look at his previous financial-advisement job
Markets

What you need to know on the markets this week: ‘Eat the rich’ – Robinhood’s reckoning after GameStop, the Bank of England’s toolbox, and blockbuster earnings

An army of Reddit traders unleashed a spectacular short-squeeze on GameStop stock and others. Hedge funds will likely swallow multibillion-dollar losses and the regulators are watching. The Bank of England may give a glimpse of what’s in its toolbox, including negative rates. Visit Business Insider’s homepage for more stories. This […]
What you need to know on the markets this week: ‘Eat the rich’ – Robinhood’s reckoning after GameStop, the Bank of England’s toolbox, and blockbuster earnings
Tech

Google could shut down its search engine in Australia, but the government isn’t backing down: ‘We don’t respond to threats.’

Google has threatened to shut down its search engine in Australia. Australian officials are demanding Google pay news publishers for content. Prime Minister Scott Morrison said: “We don’t respond to threats.” Visit Business Insider’s homepage for more stories. Google has threatened to shut down its search-engine service in Australia, as […]
Google could shut down its search engine in Australia, but the government isn’t backing down: ‘We don’t respond to threats.’
Markets

‘Shark Tank’ star Kevin O’Leary slams Bitcoin as niche and poorly regulated: ‘a giant nothingburger’

“Shark Tank” investor Kevin O’Leary criticised Bitcoin as niche, illiquid, and poorly regulated. “Bitcoin is still a nothingburger, a giant nothingburger,” he said on his YouTube channel. O’Leary emphasised the potential for a global digital currency approved by regulators. Visit Business Insider’s homepage for more stories. “Shark Tank” star Kevin […]
‘Shark Tank’ star Kevin O’Leary slams Bitcoin as niche and poorly regulated: ‘a giant nothingburger’
Markets

Cryptocurrency investors could ‘lose all their money’, UK regulator warns as Bitcoin price drops from all-time high

Consumers could ‘lose all their money’ if they invest in cryptocurrencies such as Bitcoin, the UK’s financial watchdog has warned. Bitcoin hit an all-time high of almost $US42,000 on Friday, but has since fallen sharply to around $US35,000. Regulators are increasingly concerned about cryptocurrencies such as Bitcoin and have increased […]
Cryptocurrency investors could ‘lose all their money’, UK regulator warns as Bitcoin price drops from all-time high
Markets

US regulator charges Ripple over its XRP asset, saying it’s a $1.3 billion unregistered offering, not a cryptocurrency

Blockchain company Ripple has been running a $US1.3 billion unregistered offering, akin to an unlicensed stock sale, according to a complaint filed Tuesday by the US Securities and Exchange Commission. “Issuers seeking the benefits of a public offering, including access to retail investors, broad distribution and a secondary trading market, […]
US regulator charges Ripple over its XRP asset, saying it’s a $1.3 billion unregistered offering, not a cryptocurrency
News

Switzerland has rejected plans to impose stricter responsible business regulations, despite a majority of voters approving them

Swiss voters on Sunday rejected sweeping responsible business standards that would have held multinational companies liable for their conduct abroad, reports Swissinfo. The Responsible Business Initiative would have amended the constitution, adding penalties for Swiss-based companies committing human rights abuses abroad. A razor-thin majority of voters approved of it, with […]
Switzerland has rejected plans to impose stricter responsible business regulations, despite a majority of voters approving them
News

Afterpay and other buy now pay later platforms will be forced to limit the types of customer they target under new regulations

Financial regulator ASIC has released its long-awaited report on the buy now, pay later sector. Under new regulations, platforms will have to identify their target market and regularly assess whether their products are appropriate for their users. However, ASIC ruled out further regulation without parliamentary intervention, as the sector explodes […]
Afterpay and other buy now pay later platforms will be forced to limit the types of customer they target under new regulations