By Asset Allocator Journal Staff
According to MedTech Dive, Neuros Medical has raised $56 million to support the commercialization of its Altius nerve stimulation system for chronic post-amputation pain. The round was led by EQT Life Sciences and included several existing investors. The Altius system is FDA-approved and offers targeted, non-opioid pain relief for adult amputees.
WealthManagement.com reports that a federal appeals court has dismissed Morgan Stanley’s attempt to appeal a ruling that its deferred compensation plans are protected under ERISA. The Second Circuit said it lacked jurisdiction, leaving the lower court’s decision intact. This outcome could impact numerous arbitration cases from former employees seeking deferred compensation.
As detailed by Business Matters Magazine, England has lost about eight bank branches per week since 2016, totaling around 3,700 closures. This has resulted in 41 ‘banking deserts’—areas with at least one closure per 10,000 residents—even as business activity grows. The trend is largely attributed to the rise of digital banking.
Investor advocates have criticized FINRA’s $50 million fee rebate to member firms, according to WealthManagement.com, arguing the funds should have addressed unpaid arbitration awards to investors. The Public Investors Advocate Bar Association highlighted that nearly a third of such awards go unpaid, calling it a crisis for investor protection. Despite proposals for a national recovery pool, FINRA has not implemented one, leaving many investors without recourse.
Advisor Perspectives notes that central banks are considering lending directly to hedge funds and other non-bank financial institutions to stabilize markets during crises. This move reflects the growing influence and systemic risk posed by leveraged hedge funds. However, such support would likely come with stricter regulatory oversight.
MedTech Dive states that Samsung Electronics is acquiring digital health firm Xealth to integrate data from its wearables, like the Galaxy Watch, into clinical care. The acquisition aims to unify fragmented health information and connect over 500 U.S. hospitals with digital health solutions. The deal is expected to close this year, though financial terms were not disclosed.
As reported by Business Matters Magazine, UK businesses now face fines of up to £60,000 per illegal worker as HMRC and UK Visas and Immigration intensify their crackdown. This escalation targets repeat offenders and aims to deter illegal employment. Employers are urged to conduct thorough right-to-work checks to avoid severe penalties.
WealthManagement.com reveals that RBC Wealth Management has poached the Hudson River Wealth Management team from UBS in New York, bringing over $1.7 billion in assets. The eight-member team will join RBC’s new Westchester branch, led by Steven Solomon and colleagues. This move is part of RBC’s broader strategy to attract top-performing teams from competitors.
