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Explainer: How Britain is exploiting Brexit to reform finance?

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Explainer: How Britain is exploiting Brexit to reform finance?

LONDON, Dec 9 (Reuters) – Britain proposed over 30 reforms on Friday to bolster the Metropolis of London’s function as a world monetary centre, now outdoors the European Union and going through competitors from Amsterdam, Paris and Frankfurt, in addition to New York and Singapore.

IS THIS BIG BANG 2.0?

Not fairly, nevertheless it marks a swing within the regulatory pendulum from years of accelerating financial institution capital necessities and tightening shopper protections, to considering what tweaks are wanted to make guidelines work higher for Britain after Brexit.

Initially trailed as a Large Bang 2.0 on the identical scale as far-reaching Eighties reforms of share buying and selling, the modifications have now been dubbed the “Edinburgh Reforms” after the town the place they have been formally unveiled by finance minister Jeremy Hunt.

The federal government has toned down its rhetoric, insisting there will probably be no ‘race to the underside’, huge departure from worldwide norms, or scrapping investor protections, however that regulators ought to assist the monetary sector’s worldwide competitiveness.

Hunt mentioned it could be flawed name the reforms a Large Bang given the necessity to keep away from ‘unlearning’ classes from the 2008 world monetary disaster and underscored the independence of regulators.

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“The Metropolis doesn’t wish to see deregulation. Right this moment’s bulletins are a sign of an evolution, reasonably than revolution,” mentioned Alasdair Haynes, CEO of Aquis inventory alternate.

WHAT’S RING-FENCING ALL ABOUT?

Britain has already introduced an easing of capital guidelines for insurers and is now turning to banks.

Since January 2019 banks have needed to ring-fence their deposit-taking arms with a cushion of capital to insulate them towards blow-ups of their riskier actions.

Banks have complained the foundations are too strict and hinder smaller ones from competing with larger lenders within the mortgage market. The federal government mentioned it can observe suggestions from a overview it commissioned and amend the foundations.

The federal government will seek the advice of mid-2023 on exempting banks with out main funding banking actions from the foundations, and on elevating the deposits threshold which triggers compliance with ringfencing guidelines, from 25 billion kilos to 35 billion kilos.

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ARE BANKERS NOW OFF THE HOOK?

It is not again to pre-financial disaster ‘lite-touch’.

The federal government had already introduced it can scrap an EU cap on banker bonuses, although different curbs on how bonuses are paid are anticipated to stay.

Britain launched guidelines in 2016 to make senior bankers, including senior officers at insurers in 2018, straight accountable for the choices they take after few people have been punished for misconduct that led to the worldwide monetary disaster when taxpayers bailed out lenders.

It was feared as a software to publicly disgrace bankers by placing “heads on sticks”, however to date there have been few investigations or enforcement instances. Bankers say regulators additionally take too lengthy to provide the inexperienced mild to senior appointments.

The federal government will overview this senior managers and certification regime within the first quarter of 2023, with no indication but of the dimensions of any modifications.

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WHAT ABOUT MARKETS?

There will probably be a raft of critiques as London seeks to meet up with New York in listings.

Matters underneath overview embody the foundations on short-selling, or bets that the value of inventory will fall. The federal government proposes to scrap outright an EU-era “PRIIPs” explanatory doc given to buyers, changing it with an alternate framework.

There will probably be an business taskforce to look at the case for halving the time it takes to settle a inventory commerce from two working days to 1, a transfer already deliberate in america.

Guidelines on prospectuses that firms give to buyers after they record on an alternate will probably be overhauled, together with a reform of guidelines for securitisation.

The federal government commits to setting up guidelines for a “consolidated tape” by 2024, to offer market costs for buyers to examine on finest offers throughout buying and selling platforms.

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The federal government will act on suggestions from a overview into bettering how listed firms faucet buyers for recent funds.

There will probably be a overview of EU guidelines which require brokers to itemise charges for inventory selecting analysis and executing inventory orders, often called ‘unbundling’ – a rule the EU has already partially reversed. There will even be trials for a wholesale market venue that operates on an intermittent foundation to enhance firms’ entry to capital earlier than they publicly record.

AND GREEN FINANCE?

The federal government will seek the advice of on bringing environmental, social and governance (ESG) firm rankings suppliers underneath the regulatory internet.

The rankings are extensively utilized by buyers for selecting firms which tout ‘inexperienced’ credentials, however they aren’t regulated. The Monetary Conduct Authority mentioned it could encourage regulation centered on transparency, good governance, administration of conflicts of curiosity, and strong methods and controls.

WILL THERE BE A BRITCOIN?

Prime Minister Rishi Sunak, when he was finance minister, referred to as for a “Britcoin” or digital pound for sooner funds.

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The federal government will seek the advice of with the Financial institution of England in coming weeks on a digital pound for retail use.

Reporting by Huw Jones;Enhancing by Elaine Hardcastle

Our Requirements: The Thomson Reuters Belief Rules.

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Netflix stock pre-earnings: Is the upside already priced in?

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Netflix stock pre-earnings: Is the upside already priced in?

00:00 Speaker A

We are cranking it up a few extra gears with Stock of the Week. I’m locked in on Netflix ahead of its July 17th earnings report. What’s caught my attention is that the stock has been underperforming the broader market rally this month. Shares are down five and a half percent in July while the S&P 500 is up 1.7%. Judging by the Wall Street commentary out there, analysts aren’t making too much of this trend divergence though. Needham analyst, Laura Martin, is out today raising her target price on Netflix to $1500 from $1126. She says she remains impressed with Netflix’s global scale and stable content spending. Jumping into the Yahoo Finance platform, you can see Martin isn’t alone in her bullishness. The street has hiked its 2025 EPS estimate on Netflix by 79 cents compared to just 90 days ago. They have also lifted their 2026 EPS estimate by 60 cents during that same time span. Still with me, my round table Larry Tenterelli, Steve Sosnick, and Inez Ferre. Uh, Inez, I want to go to you here on Netflix out of the jump. Netflix, I can understand why these estimates have climbed. Really for the better part of two years, Netflix has come out here and they have completely destroyed, crushed, hammered, however you want to put it, earnings estimates, and they have come out and raised guidance. I’m trying to think, why won’t that happen again, given how popular the platform is?

02:24 Inez Ferre

Well, certainly you have a lot of Wall Street that believes that they can continue to outperform as a company. I mean, they’ve had their password share crackdown. They’ve had their ad tiers that has done very well. They are pushing into live sports. So there’s a lot of reasons why the street is bullish on the stock that and you mentioned the sort of underperformance this week, but look, if you take a look at a year to date chart and you take a look at where it’s come from the April lows, you have Seaport Global that has been that noted this when they actually lowered their rating to neutral because they said, “It’s a lot that’s baked into the stock right now. And on evaluation standpoint, they’re saying, let’s just wait to for for management to execute on everything that is now priced into the share into these shares because they’ve gone up since those April lows, almost 50%.”

04:01 Speaker A

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Larry, let me get over to you here. The stock has underperformed in July. Any concern or red flag on your part there ahead of earnings?

04:24 Larry Tenterelli

No, that’s part of the rotation that I discussed that started on July 1st. The chart that you just put up showed a sharp pullback in Netflix on July 1st. And we saw that with quite a few of the high momentum stocks and money moved into small caps, healthcare, home builders. And I I think it’s a normal sector rotation. Fund managers have made a lot of money this year in tech and some of these growth stocks. And I think it’s a normal rotation to book some gains and then reallocate into underperformers. Netflix is a very strong long-term uptrend. It could always consolidate after nearly a 50% move off the lows, but the long-term trend is very strong.

05:20 Speaker A

Hey Larry, that’s what I’m trying to get at. Is it, is the stock become so priced for perfection? Even if Netflix comes out again, beats on earnings, maybe the street’s just continue to inclined to sell this name.

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05:37 Larry Tenterelli

That’s possible. There there’s a lot of gains in a stock like Netflix that could be booked. So as a trend follower, I’m going to stay with the weekly trend, which is strong, but a lot of these stocks have had big run-ups. So if there was some profit taking into earnings or after earnings, as long as they stay over the 50-day moving average, it really wouldn’t concern me.

06:04 Speaker A

Steve, last word to you. Is Netflix perhaps one of the most perfect stocks in the market? Uh, they had Squid Games, the finale drop at the end of the quarter. This is going to be the first full quarter where they raise prices on folks. So their profit should look pretty good. And oh yeah, there’s no tariff exposure.

06:39 Steve Sosnick

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Oh, it’s certainly been a beneficiary for all the reasons you’ve suggested and both and Inez and Larry both made great points about like the the year-to-date performance and also sort of the um, end of the second quarter markup fading uh, at the as of the 1st of July. Um, but I do think, you know, it’s proven to be a very price inelastic stock. I know that I’ve tried to cancel it and my wife and kids have revolted every time I try. Can’t cancel Netflix, Steve. What are you doing, man?

07:39 Steve Sosnick

I don’t watch it. My family does. I watch other stuff. I watch more sports than Netflix, but what ends up happening is they they they rebelled and said, “Absolutely not.” And so I think they’re, you know, this company, every time they’ve tried to do something that people thought might scare off customers, it hasn’t. The question now is, is it priced, is it priced to perfection, or is it priced beyond perfection? Uh, the trends are certainly very strong. Um, it’s been a great company and the, you know, but but as with many things market-related, have we gotten we’ll find out when the earnings come out if we’ve gotten a bit ahead of our skis, um, in terms of expecting another round of perfection. But boy, the market since the last earnings, uh, the market’s really repriced this stock in a very positive way.

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Ex-Google and Meta Engineers Launch Nauma: Personalized Financial Planning Tools for Tech Professionals

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Ex-Google and Meta Engineers Launch Nauma: Personalized Financial Planning Tools for Tech Professionals

SAN FRANCISCO, July 10, 2025 (GLOBE NEWSWIRE) — A team of former Google and Meta engineers has launched Nauma, a new platform designed to help people working in tech navigate complex financial decisions with confidence. Nauma’s mission is to democratize fiduciary-quality financial guidance, providing highly personalized planning tools without the high costs of traditional financial advisors.

Today, most high-net-worth families rely on advisors who charge based on Assets Under Management (AUM)—typically 1% of a client’s assets each year. For a family with $5 million, that means paying $50,000 annually, even as the level of service often remains static. Worse, these fees tend to rise 6–8% per year as portfolios grow, creating a system where costs scale without a proportional increase in value.

“The AUM model is outdated and misaligned with clients’ best interests,” said Alex Sukhanov, co-founder of Nauma. “Advisors operating under this model are incentivized to keep assets under their control, which can lead to biased advice when clients actually want to use their money—to buy real estate, start a business, or donate to charity.

Nauma is designed to give tech professionals clarity and control over their financial lives. The platform addresses the complex challenges faced by this group, including optimizing taxes, managing equity compensation, planning for early retirement, and protecting generational wealth.

“Tech professionals are building substantial wealth earlier in their lives, but most tools and advisors aren’t designed for their unique needs,” said Simone, Nauma’s co-founder. “We’re building the modern, intelligent financial planning infrastructure we wish we had—one that puts people, not assets, first.”

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For more information, visit https://nauma.ai

About Nauma
Founded by ex-Google and Meta engineers, Nauma provides advanced financial planning tools tailored for people working in tech. By replacing the legacy AUM fee model with scalable, technology-driven solutions, Nauma empowers users to navigate complex financial decisions and build wealth on their own terms.

Media Contact
hello@nauma.ai

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/74982a9a-7d84-4a5c-8e07-edb337b65345

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Mark J. Epley Joins SEDA Experts, Bringing Decades of Corporate Finance, Leveraged Finance, and M&A Expertise

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Mark J. Epley Joins SEDA Experts, Bringing Decades of Corporate Finance, Leveraged Finance, and M&A Expertise
SEDA EXPERTS

SEDA Experts LLC, a leading expert witness firm providing world-class financial expert witness services, announced today that Mark J. Epley joined the firm as Managing Director.

New York, NY, July 08, 2025 (GLOBE NEWSWIRE) — “Mark brings exceptional knowledge of corporate finance to our franchise,” said Peter Selman, Managing Partner of SEDA Experts.

Mark Epley is a seasoned investment banking executive with over 30 years of experience in corporate finance, leveraged finance, and M&A. He served as Chairman of the Financial Sponsors Group Americas at HSBC Securities, where he led global coverage teams and delivered significant growth. Mark has also held senior leadership roles at other global franchises including Nomura, Deutsche Bank, and Morgan Stanley.

At HSBC, Mark built and grew the Americas Financial Sponsors Group. He managed coverage for premier clients such as Blackstone, Apollo, BlackRock, Carlyle, Bain Capital, TPG, and Warburg Pincus. Additionally, Mark contributed strategically as a member of HSBC’s Americas Investment Banking Division Management Committee, influencing firm-wide strategy and talent recruitment.

Prior to HSBC, Mark co-founded the Americas Investment Banking Division at Nomura Securities International and held roles as Global Head of the Financial Sponsors Group and Co-head of Corporate Finance Americas. He led a global team of 80 bankers across five offices, and was an active member of Nomura’s Global Investment Banking Division Executive Committee. Mark joined Nomura from Deutsche Bank Securities where he also served as Global Head of the Financial Sponsors Group,

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Mark began his career at Morgan Stanley & Company, where he was Executive Director and founded the middle market coverage effort within the Financial Sponsors Group. He managed over 100 equity capital markets transactions, including IPOs, follow-ons, convertible bonds, and spin-offs. He was also involved in Mergers & Acquisitions and Restructuring transactions. His career started at a predecessor firm to JP Morgan, Manufacturers Hanover Trust (MHT), focusing on credit analysis and corporate coverage.

Mark presently acts as a Senior Advisor to SQ Capital supporting the origination and build at a unique and differentiated fund focused on investing in Private Equity secondary transactions.

Mark holds an MBA in Finance from Columbia Business School, where he earned Dean’s List honors, and a BA in Politics from Princeton University. He has also completed executive education programs in Energy Innovation & Emerging Technologies at Stanford University and Strategic Wealth Management at Columbia University.

About SEDA Experts LLC

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SEDA is a leading expert witness firm specializing in financial services. We support international law firms by offering the highest level of expertise across the financial industry and providing access to the most influential financial services industry leaders. We provide superior independent advice, data analytics, valuation, and elite expert reports and testimony services to law firms, regulators, and leading financial institutions.

CONTACT: Name: Damiano Colnago Email: dcolnago@sedaexperts.com Job Title: Managing Partner

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