Partnership
Wahed Invest , a UK-based robo-advisory platform offering Shariah-compliant investments, has partnered with UK-registered charitable organization iWaqf to offer a dedicated Islamic endowment offering (i.e., Waqf Fund). Through this partnership, Wahed Invest planned to support the development of innovative product offerings to support charitable causes and grow community donations aligned with Islamic principles (July 24, 2023; company press release ).
Management news
Online trading platform Robinhood announced Jordan Dane Sinclair as its new CEO in charge of operations in the UK. Jordan Sinclair has previously served as managing director of Freetrade and held senior management roles at Barclays and Wells Fargo (July 25, 2023; Bloomberg , Yahoo finance ).
Regulation/policy
The Securities and Exchange Commission (SEC) proposed limiting investment firms and online brokerages such as Robinhood using AI to generate business, as an initiative to protect consumer interests. The proposed rules will require firms to have written policies, procedures, and record-keeping on the use of AI to prevent violations and breaches of consumer protection laws (July 26, 2023; The Washington Post ).
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