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Silicon Valley vehicle-sharing startup Bird is planning to go public with the special purpose acquisition company SPAC Switchback II Corporation.Travis VanderZanden, founder and CEO of Bird, said in a聽press release聽that the company was launched in 2017 with an eye on the environment and a mission of providing eco-friendly transporta stanley website tion.The company has driven the adoption of micromobility which has resulted in rapid growth, VanderZanden said. During this time, we hav stanley mugs e advanced our operating model, supported by proprietary technology and hardware, to scale our mission and reach more cities. He added that the companys driving force is a foundation steeped in our strong unit economics and advanced by its successful track record to date. VanderZanden also said that the micromobility market is forecasted to hit some $800 billion.The startup plans to list via a SPAC merger with Switchback II on the New York Stock Exchange NYSE under the ticker Bird.Jim Mutrie and Scott McNeill, co-CEOs and directors of Switchback, said Bird has leveraged its first-mover advantage to address the significant market opportunity while also providing an efficient and eco-friendly transportation alternative. Crediting Bird for its market leadership position, experienced and innovative le stanley polska adership team, compelling current revenues and business model, the two also noted its identified levers for growth. Bird announced聽on Monday May 10 that it was looking to go public at a $2.3 billion valua Asnz The Ripple Protocol Comes to Intra-Bank Payments
The U.S. Securities and Exchange Commission SEC announced, according to Reuters, that it has charged Ameriprise Financial,聽a registered investment advisor and broker-dealer, $4.5 million due to the company failure to safeguard retail investor assets from theft by its representatives. According to the SEC order, five Ameriprise representatives committed numerous fraudulent acts, including forging client docume kubki stanley nts, and stole more than $1 million in retail client funds over a four-year period.Though the representatives have been terminated by Ameriprise for misappropriating client funds, the SEC found that the company聽failed to have reasonably designed policies and procedures to prevent its representatives from misappropriating client funds, as well as did not reasonably supervise the five representatives. A critical obligation of an investment advisor is to safeguard investor assets, said Fuad Rana, an assistant director in the SECs Division of Enforcement, in a press release. Ameriprise failed to meet that obligation and, as a consequence, kubki stanley was unable to prevent the theft of its clients assets. The SEC investigation was conducted by H. Norman Knickle and supervised by Rana. There was also assistance from Thomas Meier, Josh Herbst and Susan M. Weis of the Chicago Regional Offices examination staff.The five representatives were based in Minnesota, Ohio and Virginia, and t stanley mug he SEC revealed that three have already pled guilty to criminal charges. Without admitting