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Stories of Interest
- Credit Suisse Fully Compliant on Sanctions: CEO
- Ex-UBS Metals Trader Beats Spoofing Conspiracy Charge
- Investment Advisor, WCAS Management Corp, To Pay Nearly $800K Over Conflicts of Interest
- Altaba, fka Yahoo!, to Pay $35Mn for Failing to Disclose Massive Cybersecurity Breach - SEC
- SEC Formerly Bars Martin Shkreli from Industry
- HF Billionaire Steve Cohen Buying Into Fintech Start-Ups
- Deutsche Bank Is Weighing Massive Cuts in Its U.S. Cash Equities Unit
- Richard Jenrette, Co-Founder of DLJ Investment Bank, Dies at 89
- Goldman Sachs Makes First Hire in Cryptocurrency Markets Unit
- Special FINRA Election to Fill Large Firm Governor Vacancy
- Chicago-Based Investment Adviser Sentenced to 151 Months in Prison - SEC
- Dun & Bradstreet Hit With FCPA Violations - SEC
- SEC Charges Additional Defendant in Fraudulent ICO Scheme
- Warren Buffett Simply Blew it on Wells Fargo Stock: Dick Bove (Video)
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
- Reflections of an Economist Commissioner (SEC's Piwowar)
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NEWSLETTERS & ALERTS
JPMorgan Quits R3 Blockchain Consortium
On Friday, JPMorgan announced that it left the large bank blockchain consortium led by R3 CEV. R3, which began operating in September 2015, seeks to help the financial sector develop shared blockchain technology to run some of their most cumbersome and expensive processes.
Meanwhile, JPMorgan is still involved in other blockchain consortiums – newly-formed Enterprise Ethereum Alliance, Axoni, Digital Asset Holdings and Hyperledger Project, which is led by the Linux Foundation.
In addition to its involvement in financial industry and cross-industry consortiums, JPMorgan Chase has its own proprietary technology projects. The bank has a New York technology hub which it’s planning to triple in size in the coming years. The firm is in discussions with Brookfield Property Partners to lease an additional 300,000 square feet on the upper levels of 5 Manhattan West near Hudson Yards. And has recently set up hubs across the U.S. for teams specializing in big data, robotics and cloud infrastructure to find new sources of revenue and reduce expenses and risks. All told, JPMorgan Chase is spending nearly $10 billion a year on technology [See Bloomberg, 4/19]