The Securities and Exchange Commission announced last week a more than $7 million reward to a whistleblower who provided crucial information and assistance in a SEC action, including the identification of witnesses. Jane Norberg, Chief of the SEC’s Office of the Whistleblower, commented: The whistleblower showed great tenacity and effort in attempting to expose the…
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Securities and Exchange Commissioner (SEC) Commissioner Hester Peirce has issued a statement expressing her disagreement with the Commission’s rejection of Wilshire Phoenix’s Bitcoin Exchange Traded Fund application. Peirce criticizes the SEC for unfair and narrow-minded treatment of Bitcoin-related products. Her term ends in a little over three months, in the beginning of June, some suggest…
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Raul Lambino, administrator of Cagayan Economic Zone Authority (CEZA), licensing regulator for cryptocurrency exchanges in the Philippines, was accused of corruption and misappropriation of millions. Allegedly Lambino’s wealth has inexplicably grown with tens of millions of dollars. A leaked report from the Philippine National Intelligence Coordinating Agency (NICA) says: It is now the general belief…
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The Securities and Exchange Commission (SEC) announced on Thursday settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for improperly recommending risky investments to some of its clients, including senior citizens and retirees. SEC ordered Wells Fargo to pay $35 million penalty. SEC accused Wells Fargo for failing to supervise investment…
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Paysafe, specialized payments platform, announced its partnership with the Tenenesse-based integrated business management solutions provider, Celero Commerce. Paysafe will support Celero Commerce’s independent sales organizations (ISOs) in their expansion. Founded in 2018 Celero Commerce currently serves approximately 25,000 American merchants. The collaboration will allow the company to take advantage of 20-year experience of Paysafe assisting…
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The Securities and Exchange Commission (SEC) announced yesterday that it settled charges against actor Steven Seagal for not disclosing payments he received for promoting investments in an initial coin offering (ICO) by Bitcoiin2Gen (B2G). SEC found that the 69-year-old actor failed to disclose the amount $250,000 in cash and $750,000 worth of B2G tokens he…
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ASIC has cancelled the Australian financial services (AFS) licence of RVM Capital for not submitting its annual financial statements for three years in a row. RVM Capital held AFS licence number 457140 and it was cancelled from 21 January 2020. These measures are part of ASIC’s intention to raise and improve the requirements for…
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The Federal Court has found that the over-the-counter (OTC) derivative providers AGM Markets Pty Ltd, OT Markets Pty Ltd and Ozifin Tech Pty Ltd were engaged in systemic unconscionable conduct. It was reported that Australian investors lost over $30 million. Account managers located offshore were used to engage retail investors in Australia. They provided unlicensed…
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INTL FCStone Inc. announced today the acquisition of GAIN Capital Holdings, Inc. The agreement is approved by the board of directors of both companies. INTL FCStone agreed to acquire GAIN Capital for $6.00 per share in all-cash transaction, amounting to approximately $236 million in equity value. INTL FCStone also agreed to make an offer at…
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Financial secretary of Hong Kong Paul Chan, announced yesterday in his annual budget speech that he is considering changes of the regulation in the cryptocurrency sector to strengthen the anti-money-laundering (AML) norms and counter-terrorist-financing (CTF) policies. Financial Secretary Chan indicated in his speech that he was following recommendations form global financial regulator, Financial Action Task…
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