News Centre

Statement On Jury’s Verdict In Trial Of Christopher Nohl, Michael Hull, And Entities They Owned Or Controlled: Gurbir S. Grewal, SEC Director, Division Of Enforcement

Date 02/08/2022

After a 7-day trial, a jury in the United States District Court for the Western District of Wisconsin found Christopher Nohl, Michael Hull, and various entities under their control liable for securities fraud in connection with their operation of the Greenpoint Tactical Income Fund, a Wisconsin-based private investment fund.

New York Department Of Financial Services Superintendent Harris Announces $30 Million Penalty On Robinhood Crypto For Significant Anti-Money Laundering, Cybersecurity & Consumer Protection Violations – DFS Investigation Finds Robinhood Crypto Failed To Maintain Effective And Compliant BSA/AML And Cybersecurity Programs, Violated Critical Consumer And Reporting Requirements, And Improperly Certified Compliance

Date 02/08/2022

Superintendent of Financial Services Adrienne A. Harris announced today that Robinhood Crypto, LLC (“RHC”) will pay a $30 million penalty to New York State for significant failures in the areas of bank secrecy act/anti-money laundering (“BSA/AML”) obligations and cybersecurity that resulted in violations of the Department’s Virtual Currency Regulation (23 NYCRR Part 200), Money Transmitter Regulation (3 NYCRR Part 417), Transaction Monitoring Regulation (23 NYCRR Part 504), and Cybersecurity Regulation (23 NYCRR Part 500). In addition to the penalty, RHC will also be required, as part of the settlement, to retain an independent consultant that will perform a comprehensive evaluation of RHC’s compliance with the Department’s Regulations and RHC’s remediation efforts with respect to the identified deficiencies and violations.  

Readout: US Secretary Of The Treasury Janet L. Yellen’s Meeting With German Finance Minister Christian Lindner

Date 02/08/2022

Earlier today, Secretary of the Treasury Janet L. Yellen spoke with German Finance Minister Christian Lindner.  During the call, Secretary Yellen discussed the critical need to  respond to Ukraine’s near-term economic assistance needs caused by Russia’s unprovoked and unjustified war.  In addition, Secretary Yellen conveyed appreciation for Germany’s key role, as part of its G7 presidency, in exploring a price cap on Russian oil and in the progress being made in technical-level discussions. 

CFTC Commissioner Goldsmith Romero To Participate In A Fireside Chat At The Federal Reserve Bank Of Philadelphia’s Sixth Annual Fintech Conference

Date 02/08/2022

ISDA: SwapsInfo First Half Of 2022 And The Second Quarter Of 2022 Review

Date 02/08/2022

The latest ISDA SwapsInfo Quarterly Review shows that trading volume for interest rate derivatives (IRD) and credit derivatives increased in the first half of 2022 compared to the first half of 2021. This summary provides a high-level overview of key trends in the first half of 2022 and the second quarter of 2022.

CFTC Customer Advisory Highlights What Customers Should Know Before Trading Over-The-Counter Forex - Fraudsters Posing As OTC Forex Dealers Take Deposits, But Refuse Withdrawals

Date 02/08/2022

The Commodity Futures Trading Commission today issued a customer advisory warning the public to thoroughly research potential investments in over-the-counter foreign exchange (OTC forex). The new advisory, Eight Things You Should Know Before Trading Forex, provides potential investors with eight cautionary tips about the risks of trading OTC forex. To help protect themselves against fraud, the advisory encourages potential investors to thoroughly research an OTC forex dealer before making any deposits or sharing personal information. It also outlines what forex dealer registration entails, and why it matters, as well as common signs of fraudulent OTC forex websites.

SEC Appoints Anthony C. Thompson To Second Term On PCAOB

Date 02/08/2022

The Securities and Exchange Commission today announced the appointment of Anthony (Tony) C. Thompson to a second term as a Board Member of the Public Company Accounting Oversight Board (PCAOB). Mr. Thompson joined the Board on January 3, 2022, filling a term that expires on October 24, 2022. His second term will run until October 24, 2027.

ISDA derivatiViews: SIMM Consistency Is Vital

Date 02/08/2022

Since regulatory initial margin (IM) requirements went into effect in 2016, hundreds of derivatives users in scope of the rules have collectively exchanged billions of dollars of IM. Latest figures show the largest 20 market participants had collected more than $280 billion of IM for their non-cleared derivatives transactions at the end of 2021. Virtually all of this has been calculated using the ISDA Standard Initial Margin Model (ISDA SIMM).

Remarks At The Small Business Advisory Committee Meeting, SEC Commissioner Jaime Lizárraga

Date 02/08/2022

Good morning, and thank you to Carla and the rest of the Committee for your time and input today. It is a pleasure to address an SEC advisory committee for the first time and on a topic as profoundly important as small business capital formation.

US Treasury Sanctions Elites And Companies In Economic Sectors That Generate Substantial Revenue For The Russian Regime - New Designations Tighten Global Vise On Putin Associates And Resources

Date 02/08/2022

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed a new round of sanctions targeting Kremlin-connected elites, a major multinational company, and a sanctions evasion operation, as well as one yacht pursuant to Executive Order (E.O.) 14024. These elites and businesses operate in economic sectors that generate substantial revenue for the Russian regime, including from sources outside of Russia.