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Statement On Decision In Bench Trial Of Mark Heckele, Gurbir S. Grewal, SEC Director, Division Of Enforcement

Date 30/06/2022

After a 2-day bench trial, the Honorable Mark C. Scarsi in the Central District of California found Mark Heckele liable for securities fraud and illegally selling securities in unregistered offerings.
US Justice Department Announces Enforcement Action Charging Six Individuals With Cryptocurrency Fraud Offenses In Cases Involving Over $100 Million In Intended Losses

Date 30/06/2022

The Department of Justice, together with federal law enforcement partners, today announced criminal charges against six defendants in four separate cases for their alleged involvement in cryptocurrency-related fraud, including the largest known Non-Fungible Token (NFT) scheme charged to date, a fraudulent investment fund that purportedly traded on cryptocurrency exchanges, a global Ponzi scheme involving the sale of unregistered crypto securities, and a fraudulent initial coin offering.
CFTC Charges Commodity Pool Operators And Florida Company With Fraudulently Solicitating Over $41.6 Million In A Commodity Pool Scheme

Date 30/06/2022

The Commodity Futures Trading Commission today announced it has filed a civil enforcement action in the U.S. District Court for the Southern District of Florida against Emerson Pires and Flavio Goncalves, both Brazilian citizens who previously resided in Port Saint Lucie, Florida; Joshua Nicholas of Stuart, Florida; and Empires Consulting Corp., a Florida corporation. The complaint alleges the defendants fraudulently solicited, accepted, and pooled at least $41.6 million, including more than $14.3 million from individuals in the U.S., through commodity interest pools under the name EmpiresX. The complaint further alleges that Pires, Goncalves, and Empires Consulting misappropriated at least $5 million in pool participant funds.
Statement By The IMF Executive Board And Management On The Institutional Safeguards Review

Date 30/06/2022

Ensuring the highest standards of institutional governance and data and analytical integrity is paramount to the International Monetary Fund’s (IMF) ability to deliver on its mandate and its capacity to serve its member countries in an effective, evenhanded, and impartial manner. The IMF’s Executive Board is fully committed to maintaining these standards, and in concluding its review of the matters raised in the investigation of the 2018 World Bank’s Doing Business report in October 2021, the Executive Board noted that it had “confidence in the impartiality and analytical excellence of IMF staff and in the IMF’s robust and effective channels for complaint, dissent, and accountability”. The Board also noted that it would consider “possible additional steps to ensure the strength of institutional safeguards” in these areas. Accordingly, it launched a comprehensive review of the IMF’s institutional safeguards, with the aim of ensuring that the Fund’s systems reflect a robust governance structure which meets the highest standards.
Changes To BOX Rule 7170 Nullification And Adjustment Of Options Transactions Including Obvious Errors

Date 30/06/2022

Effective July 1, 2022, BOX Exchange, in coordination with all U.S. options exchanges, will update the existing harmonized Obvious Error rules and review procedures as outlined below:

SIFMA Opposes Limitation Of Liability Provisions In CAT Reporter Agreement

Date 30/06/2022

In a comment letter filed today with the Securities and Exchange Commission (SEC), SIFMA expressed both its ongoing concerns about the security of investors’ data in the Consolidated Audit Trail (CAT) and its opposition to the efforts of the self-regulatory organizations (SROs) who control and operate the CAT to limit their liability for any breach or misuse of the data.
SEC Charges Empires Consulting Corp. With Fake Trading Scheme - As Scheme Collapsed, Defendants Stopped Investor Withdrawals And Relocated To Brazil

Date 30/06/2022

The Securities and Exchange Commission today announced fraud charges against Empires Consulting Corp. (EmpiresX), its founders Emerson Sousa Pires and Flavio Mendes Goncalves, and its head trader Joshua David Nicholas, for a scheme that allegedly raised at least $40 million by luring investors with false claims of one percent daily profits, but instead misappropriated large sums of investors' money for personal uses.
Council Of The EU Presidency And European Parliament - Digital finance: Agreement Reached On European Crypto-Assets Regulation (MiCA)

Date 30/06/2022

The EU brings crypto-assets, crypto-assets issuers and crypto-asset service providers under a regulatory framework for the first time.
Statement Of Commissioner Kristin Johnson Regarding The CFTC Charging Commodity Pool Operators And A Florida Company With Fraudulent Solicitation Of $41.6 Million

Date 30/06/2022

Today, the Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court for the Southern District of Florida against Empires Consulting Corp., a Florida corporation, and three individuals, alleging that they operated a fraudulent scheme to solicit, accept, and pool at least $41.6 million, including at least $14.3 million from over 2,300 individuals in the United States. Defendants’ solicitations were largely via the internet or online, through the company’s website, videos posted on social media platforms, and emails. Defendants initially solicited participants to fund their accounts using cryptocurrencies, including, among others, bitcoin, ether, and tether.
Mark T. Uyeda Sworn In As SEC Commissioner

Date 30/06/2022

The Securities and Exchange Commission today announced Mark T. Uyeda has been sworn into office as a Commissioner by Brian Johnson, Assistant Director of the Division of Investment Management's Rulemaking Office. Commissioner Uyeda was nominated by President Biden earlier this year and confirmed by the U.S. Senate on June 16.