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United States
Anti-Money Laundering
US Authorities Probe Crypto Bank Silvergate Over FTX Dealings
By Editors | 06/02/2023
The criminal probe is said to be focused on Silvergate’s dealings with the now-bankrupt FTX and Alameda Research, and its hosting of accounts tied to both companies.
Fraud, Scams & Cybercrime
“My Big Coin” Crypto Founder Gets Eight Year Jail Sentence
By Sam Chen | 04/02/2023
In the first sentencing of a crypto founder for a marketing fraud, prosecutors said Randall Crater defrauded investors of more than $7.5mn.
Cybersecurity
Ransomware Attack Against ION Markets Hit Derivatives Traders
By Manesh Samtani | 03/02/2023
The incident has forced firms to manually process derivatives trades. Ransomware gang Lockbit has threatened to publish stolen data unless a ransom is paid.
Conduct, Culture & Accountability
US SEC Proposes Amendments to Staff Trading Rules
By Sanday Chongo Kabange | 02/02/2023
Investments in financial industry sector funds will be prohibited. The SEC will be able to collect employee trading data via an automated electronic system.
Trading & Investment
NYSE Faces Claims Over Last Week’s Trading Halts
By Editors | 01/02/2023
Charles Schwab, Robinhood, Virtu Financial and Citadel Securities are among the firms that submitted claims. The total impact is estimated at over $20mn.
PEPs & Sanctions
US, Canada, UK Announce Fresh Myanmar Sanctions
By Editors | 01/02/2023
The sanctions come two years after the February 2021 military coup. Myanmar’s air force is among the targets for its civilian bombing campaign.
Fraud, Scams & Cybercrime
Crypto Firm Celsius Operated as Ponzi Scheme, Report Says
By Editors | 01/02/2023
Celsius, now in bankruptcy, used customer funds to prop up the price of its own token for years, including to allow insiders to cash out.
Custody & Infrastructure
US SEC Probes Investment Advisers Over Crypto Asset Custody
By Editors | 01/02/2023
The US regulator is inquiring into how investment advisers assess third-party custodians used to hold clients’ crypto assets.
Cryptocurrency
New York Regulator Investigating Crypto Firm Gemini
By Editors | 01/02/2023
Gemini emphasised connections to the FDIC when customers asked if their assets were safe. Almost $1bn in customer assets have since been frozen on the platform.
Reporting & Disclosures
European Regulators Slammed for Approach to Greenwashing Probe
By ESG Investor | 31/01/2023
A lack of engagement with key stakeholders and timing of greenwashing investigation among criticisms levelled at European Supervisory Authorities.
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