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CFI Financial Group has opened a Bogotá office and launched CFI Colombia S.A.S, appointing Simon Knudson as chief executive of the local unit. The move comes around nine months after Colombia's Financial Superintendence cleared the group to operate in the country and follows a broader expansion across Latin America.
Outgoing ASIC Chairman Joe Longo used his final speech to call for a ban on unlicensed communications about superannuation, targeting lead-generation pipelines he described as "industrial-scale misconduct." He highlighted enforcement actions, record penalties and emerging risks such as agentic AI as he prepares to hand leadership to Deputy Chairwoman Sarah Court.
The UK's Financial Conduct Authority has launched a competition investigation into PayPal, Visa and Mastercard over digital wallet arrangements. The probe examines whether certain agreements may restrict competition in the UK payments market, with a focus on PayPal's wallet funding and use.
StoneX Group has withdrawn its interest in making an offer for CAB Payments Holdings after key shareholder Helios declined to support its raised proposal of 110 pence per share. Helios, holding about 45% of CAB Payments, is backing its own earlier firm offer instead.
