Misuse of off-channel apps leads to $549m in penalties from SEC, CFTC
The SEC and CFTC hand out sizable, combined penalties for recordkeeping and supervision failures relating to off-channel communications.
HSBC and Scotia Capital charged for off-channel comms recordkeeping failures
SEC and CFTC charge HSBC and Scotia Capital with recordkeeping failures using off-channel comms.
Our in-brief roundup of notable stories from the last week.
The broker-dealer failed to properly monitor more than 61,500 foreign currency wires after previously settling similar charges in 2018.
Key personnel moves across the regulated industries that we cover.
The CFTC, through its sole commissioner, said new amendments are needed "to increase the detail and specificity of the existing regulations in order to mitigate potential risks."
Amendments will also allow certain products to hold up to 15% of their assets in securities or digital commodities.
Our pick of the latest crypto stories.
The attorneys general said the rule exceeds the agency's statutory powers and urged the CFTC to start over.
The former CFTC Commissioner did not mince words in a letter to the agency, arguing that it had “lost its way” in its attempt to grab control over the explosively popular sector.
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