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ASIC Launches Immunity Policy For Market Misconduct Offences

Date 24/02/2021

ASIC has released an immunity policy for certain contraventions of the Corporations Act, which includes serious offences such as market manipulation, insider trading and dishonest conduct in the course of carrying on a financial services business.
PanXchange Launches Crowdfunding Campaign To Protect Itself From Competitor’s 'Trademark Abuse'

Date 23/02/2021

PanXchange, Inc, the market structure solution for physical commodities, today launched the first $50,000 tranche of a fundraising campaign to protect its rights to properly and accurately use the English language.
PNGX Exploring Providing Greater Access To Equity Financing For SMEs

Date 23/02/2021

PNGX Markets Limited - PNG’s National Stock Exchange - is exploring the provision of greater access to equity financing for SMEs.
US Department Of Justice: Serbian Founder Of Digital-Asset Companies Indicted In International Cryptocurrency Scheme

Date 23/02/2021

A Serbian man was charged in an indictment today for his alleged participation in a coordinated cryptocurrency scheme in which he solicited U.S. investors using two fraudulent online investment platforms.
Intercontinental Exchange Chief Financial Officer Scott Hill To Present At The Raymond James 42nd Annual Institutional Investors Conference On March 3, 2021

Date 23/02/2021

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, announced today that Scott Hill, ICE’s Chief Financial Officer, plans to present at the Raymond James 42^nd Annual Institutional Investors Conference. The presentation will take place on Wednesday, March 3 at 11:40 a.m. EST. The presentation will be available live and in replay via webcast and can be accessed in the Investors section of ICE’s website at www.theice.com.

CFTC: Federal Court Sanctions Former New Jersey Energy Broker For Role In Disclosures Of Material Nonpublic Information

Date 23/02/2021

The Commodity Futures Trading Commission today announced that the U.S. District Court for the Southern District of New York entered a consent order on February 19, 2021, resolving CFTC charges that Ron Eibschutz, a former energy broker and New Jersey resident, sought and obtained disclosures of material nonpublic information from two former employees of the New York Mercantile Exchange (NYMEX) in violation of the Commodity Exchange Act (CEA) and CFTC regulations.
Bitfinex And Tether Reach Settlement With New York Attorney General's Office

Date 23/02/2021

Bitfinex and Tether are pleased to have reached a settlement of legal proceedings with the New York Attorney General’s Office. Under the terms of the settlement, we admit no wrongdoing. The settlement amount we have agreed to pay to the Attorney General’s Office should be viewed as a measure of our desire to put this matter behind us and focus on our business.
Opening Statement Of CFTC Commissioner Dawn D. Stump Before The Market Risk Advisory Committee

Date 23/02/2021

Thank you, Acting Chairman Behnam and Alicia, for holding, what I anticipate, will be a very informative meeting with robust debate around a number of important issues facing not only the markets regulated by the CFTC, but so many topics of interest to the public more generally.
SIFMA Comment On Need For Extension Of SLR Exclusion

Date 23/02/2021

SIFMA today submitted a comment letter to the Federal Reserve System regarding the need to extend the interim final rule (IFR) for bank holding companies that provides a temporary exclusion of U.S. Treasury securities and deposits at the Federal Reserve Banks from the Supplementary Leverage Ratio (SLR).
New York Attorney General James Ends Virtual Currency Trading Platform Bitfinex’s Illegal Activities In New York - Bitfinex And Tether Must Submit To Mandatory Reporting On Efforts To Stop New York Trading - Bitfinex And Tether Deceived Clients And Market By Overstating Reserves, Hiding Approximately $850 Million In Losses Around The Globe

Date 23/02/2021

New York Attorney General Letitia James today continued her efforts to protect investors from fraudulent and deceptive virtual or “crypto” currency trading platforms by requiring Bitfinex and Tether to end all trading activity with New Yorkers. Millions around the country and the world today use virtual currencies as decentralized digital currencies — unlike real, regulated government currencies, including the U.S. dollar — to buy goods and services, often times anonymously, through secure online transactions. Stablecoins, specifically, are virtual currencies that are always supposed to have the same real-dollar value. In the case of Tether, the company represented that each of its stablecoins were backed one-to-one by U.S. dollars in reserve. However, an investigation by the Office of the Attorney General (OAG) found that iFinex — the operator of Bitfinex — and Tether made false statements about the backing of the “tether” stablecoin, and about the movement of hundreds of millions of dollars between the two companies to cover up the truth about massive losses by Bitfinex. An agreement with iFinex, Tether, and their related entities will require them to cease any further trading activity with New Yorkers, as well as force the companies to pay $18.5 million in penalties, in addition to requiring a number of steps to increase transparency.