News Centre

SEC: Advisory Firm Settles Charges Of Defrauding Investors, Agrees To Refund Allegedly Ill-Gotten Gains To Harmed Clients

Date 13/08/2020

The Securities and Exchange Commission today announced that SCF Investment Advisors, Inc. (SCF) has agreed to settle charges that it selected mutual funds and cash sweep money market funds for clients that provided undisclosed revenue to the firm’s affiliated broker-dealer and were more expensive than other available options for the same funds.  The settlement includes a distribution of money to harmed clients of the Fresno, California-based investment advisory firm.

Robert Benedict Bowes Nominated By President Trump As U.S. CFTC Commissioner

Date 13/08/2020

Robert Benedict Bowes, of Virginia, to be a Commissioner of the Commodity Futures Trading Commission for a term expiring April 13, 2025, vice Brian D. Quintenz, term expired.

SEC Charges Issuer And CEO With Misrepresenting Platform Technology In Fraudulent ICO

Date 13/08/2020

The Securities and Exchange Commission today announced charges against Virginia-based Boon.Tech and its chief executive officer Rajesh Pavithran for fraud and registration violations in connection with a $5 million initial coin offering (ICO) of digital asset securities. 

Intercontinental Exchange Announces The Election Of Caroline Silver To The ICE Board Of Directors

Date 13/08/2020

Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, announced that its Board of Directors has elected Caroline Silver as a new Director effective August 13, 2020. She fills a newly created seat on the Board.

Federal Reserve Highlights Research And Experimentation Undertaken To Enhance Its Understanding Of The Opportunities And Risks Associated With Central Bank Digital Currencies

Date 13/08/2020

The Federal Reserve on Thursday highlighted the research and experimentation undertaken to enhance its understanding of the opportunities and risks associated with central bank digital currencies. The initiatives complement a broad set of payments-related innovation projects currently underway within the Federal Reserve System.

An Update On Digital Currencies, Federal Reserve Governor Lael Brainard At The Federal Reserve Board And Federal Reserve Bank Of San Francisco's Innovation Office Hours, San Francisco, California (Via Webcast)

Date 13/08/2020

It is a pleasure to participate in San Francisco's Innovation Office Hours. The Federal Reserve Bank of San Francisco is a leader of our engagement with the tech community. And the Federal Reserve's Innovation Office Hours serve as an important forum to engage on innovation in the financial system with financial institutions, fintechs, technology companies, nonprofits, and other stakeholders. We have benefited from learning about the work you are doing to promote healthy innovation in financial services and payments. This event covered a number of important topics, including regulatory technology, blockchain, cybersecurity, and digital banking. The breadth of topics and the range of participants speak to the scale and scope of technological innovation in financial services. It is a testament to widespread investments in technology that we are able to proceed with these kinds of engagements and maintain our operations seamlessly despite the unprecedented shock associated with the COVID-19 crisis.

Brazil’s C6 Bank Raises Capital To Boost Loans After TIM Partnership

Date 13/08/2020

• New capital commitment raises C6’s share equity to R$1.24 billion
• Number of checking accounts grew 150 percent this year

Federal Banking Agencies Issue Joint Statement On Enforcement Of Bank Secrecy Act/Anti-Money Laundering Requirements

Date 13/08/2020

The federal banking agencies today issued a joint statement updating their existing enforcement guidance to enhance transparency regarding how they evaluate enforcement actions that are required by statute when financial institutions fail to meet Bank Secrecy Act/anti-money laundering (BSA/AML) obligations.

Chainalysis In Action: Department Of Justice Announces Takedown Of Two Terrorism Financing Campaigns With Help From Blockchain Analysis

Date 13/08/2020

Today, the U.S. Department of Justice (DOJ) announced the disruption of two terrorism financing campaigns that utilized cryptocurrency donations (and a third that didn’t), following a multi-agency investigation conducted by the FBI, HSI, and IRS-CI. The investigation led to the largest ever seizure of cryptocurrency assets related to terrorism financing, with more than $1 million worth of cryptocurrency recovered from terror finance campaigns and financial facilitators operating unlicensed money services businesses (MSBs). 

US Department Of Justice: Global Disruption Of Three Terror Finance Cyber-Enabled Campaigns - Largest Ever Seizure Of Terrorist Organizations’ Cryptocurrency Accounts

Date 13/08/2020

The Justice Department today announced the dismantling of three terrorist financing cyber-enabled campaigns, involving the al-Qassam Brigades, Hamas’s military wing, al-Qaeda, and Islamic State of Iraq and the Levant (ISIS).  This coordinated operation is detailed in three forfeiture complaints and a criminal complaint unsealed today in the District of Columbia.  These actions represent the government’s largest-ever seizure of cryptocurrency in the terrorism context.