FINRA | FinTelegram News

Category: FINRA

August 14, 2024

FINRA Raises Concerns Over Growing Crypto Involvement Among U.S. Brokerage Firms!

The U.S. Financial Industry Regulatory Authority (FINRA) has identified a significant increase in the involvement of U.S. brokerage firms in the crypto sector, raising concerns about activities occurring on the fringes of regulatory oversight. According to a recent FINRA guidance, nearly 400 brokerage firms are now engaged with crypto in some capacity, though much of this activity may fall outside the organization’s direct jurisdiction.

FINRA

January 12, 2022

$350,000 Regulatory fine for E*TRADE for severe surveillance issues

The U.S. FINRA fines E*Trade $350,000 for flaws in its surveillance systems. Of the $350,000 fine, $144,500 will go to FINRA, and the rest to Nasdaq, NYSE, Investors Exchange, and Cboe EDGX Exchange for similar violations, the FINRA filing said. FINRA found that E*Trade relied on automated surveillance reports to detect manipulative trading by customers. However, with regard to wash trades, prearranged trading, and marking-the-close, the reporting parameters were flawed enough to be inadequate.

September 23, 2021

R4I – The Amsterdam-New York Connection with Safened, fourthline, and Payvision spin-off Cetler

Safened is the trading name of Safened-Fourthline Limited, a company licensed by the FCA as an Authorised Payment Institution since May 2018. Safenet-Fourthline Opco Holding B.V. in Amsterdam controls the company, says UK Companies House. A director of Safened-Forthline is Payvision founder Rudolf Booker. SafeNed Deposits B.V. in Amsterdam is also connected to Safened. All companies are registered at Tesselschadestraat 12 in 1054 Amsterdam. The Payvision spin-off Cetler B.V. is also located there.

TikTok Takedown: America’s Digital Iron Curtain or Silicon Valley’s Secret Weapon?

The recent ruling by the U.S. Court of Appeals for the District of Columbia Circuit has sent shockwaves through the social media industry, upholding a law that could effectively ban TikTok in the U.S. The ruling cited national security concerns. This decision marks a significant escalation in the ongoing tension between the U.S. government and Chinese-owned tech companies.

Truong My Lan: A Tycoon’s Fall from Grace and Vietnam’s $44 Billion Financial Scandal!

The dramatic downfall of Truong My Lan, one of Vietnam’s most prominent property magnates, has sent shockwaves through the country's financial and political systems. The 68-year-old former billionaire is at the center of one of the largest financial frauds in history, a scandal that has not only exposed vulnerabilities in Vietnam’s economy but has also highlighted the intricate relationship between business and politics in the country.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.

U.S. DOJ’s Whistleblower Pilot Program: 250+ Tips in Just Months!

Whistleblowers are the only effective way to fight financial crime. The U.S. DOJ whistleblower pilot program has already proven effective, generating over 250 tips of potential misconduct since its launch in August, according to Principal Associate Deputy Attorney General Marshall Miller. According to a Reuters report, the initiative targets corporate malfeasance and encourages internal self-disclosure by companies.

Online Gambling: Lokinvestigation in Curaçao, its Maltese Connections, and How to Shut Down!

For many years, the far-far-away Curacao was the regulatory mecca of global online gambling. But that is over. The Lokinvestigation, spearheaded by opposition politician and forensic investigator Dr. Luigi Faneyte, reveals systemic failures and alleged corruption in Curaçao’s online gambling sector. With ties to Maltese investors and global financial networks, the report demands transparency but also carries political implications.