Opinion by: Hazem Mulhim A recent DIFC Fintech conference provided some interesting insights into the current situation in terms of regulations and cryptocurrencies, including: The Financial Action Task Force (FATF) recently defined virtual asset service providers to include cryptocurrency exchanges, stable coin issuers, DeFi protocols, and non-fungible tokens (NFT) marketplaces. This definition helps set the tone for […]
Reported by: Ilya Lozovsky, Miranda Patrucic, Süddeutsche Zeitung, Norddeutsche Rundfunk (NDR), and Westdeutsche Rundfunk (WDR) German police this morning launched a raid on properties belonging to sanctioned Russian oligarch Alisher Usmanov on the shore of Lake Tegernsee in southern Bavaria. In response to previous reporting by Süddeutsche Zeitung, his spokesman provided a statement denying that […]
Reported by: Department of Justice, U.S. Attorney’s Office, Northern District of California Oakland registered investment advisor was charged in a federal information filed today with securities fraud for trading upon non-public inside information, announced United States Attorney Stephanie M. Hinds and Federal Bureau of Investigation Special Agent in Charge Sean Ragan. According to the information […]
Reported by: Helen Parry Senior Regulatory Intelligence Expert / Thomson Reuters Regulatory Intelligence The United Kingdom’s Financial Conduct Authority (FCA) confiscation announcement relating to investment adviser Richard Faithfull, and the Serious Fraud Office (SFO) announcement concerning David Ames, highlight examples of successful convictions in cases concerning overseas transnational investment fraud. A close examination of the […]
Reported by: TikTok – unusual_whales Two new exchange-traded funds named after House Majority Leader Nancy Pelosi (D-Calif.) and Sen. Ted Cruz (R-Texas) are aiming to let everyday investors copy their trades. The Pelosi-themed ETF would trade under the ticker NANC in honor of the congresswoman whose husband frequently buys and sells stocks of the companies […]
Reported by: InsuranceNewsNet Oppenheimer & Co., a New York-based brokerage and investment bank, was ordered to pay nearly $37 million in damages to 11 investors who lost money in a $110 million Ponzi scheme, allegedly conducted by two firms under the control of John Woods, a Marietta, Georgia resident. Woods, a long-time broker with Oppenheimer, […]
Reported by: Bloomberg Another Morgan Stanley executive whose communications were sought in a US probe into how Wall Street handles big stock trades has been placed on leave, amid a flurry of behind-the-scenes activity in the investigation. Authorities haven’t accused anyone of wrongdoing. Morgan Stanley is embroiled in the sprawling investigation examining how Wall Street […]
Opinion by: Mark Laurie If crypto did offer a potential loophole, we could expect to see Russia doing its darndest to drive through it. But thus far we have seen no signs of any concerted Russian effort – governmental or non-governmental – to boost crypto liquidity. Instead, Russia President Vladimir Putin seems to be putting […]
Reported by: Bilal Jafar Financial Industry Regulatory Authority (FINRA) recently announced that Vision Financial Markets LLC and Vision Brokerage Services have agreed to pay a fine as part of the settlement with the authority. According to the details shared by FINRA, Vision Financial and Vision Brokerage failed to establish and implement an appropriate anti-money laundering […]
Reported by: Marc Saltzman Cybercrime cost Americans over 50 nearly $3 billion last year, a whopping 62% increase from 2020, according to the FBI’s 2021 Elder Fraud Report. In fact, the number of victims could be much higher, as seniors are also less likely to report fraud, says the FBI. This is supported by figures from the […]
Financial Crime News Briefs 