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SEC Charges Tron Founder With Misleading Investors

March 29, 2023 by FTF News

SEC Charges Tron Founder With Misleading Investors

It’s a time-tested way to con good, honest folks out of their hard-earned money. Dazzle them with celebrities while you pick their pockets! Case in point, according to recent allegations filed by the United States Securities and Exchange Commission (SEC): Justin Sun, a cryptocurrency entrepreneur, who paid a long list of celebrities big bucks to… Read More >>

Filed Under: Securities Operations, Industry News, Ops Automation, Risk Management, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), Blockchain/DLT, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Reporting, Industry News Tagged With: automation, back office, compliance, crypto-technology, cryptocurrencies, cryptocurrency, SEC, securities fraud, Securities Operations

FTX Insider Faces SEC & CFTC Charges Too

March 7, 2023 by Louis Chunovic

FTX Insider Faces SEC & CFTC Charges Too

Attention, screenwriters: Sharpen your pencils. We’ve reached a key moment in the FTX saga! The US Securities & Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Feds have turned their enforcement lasers on Nishad Singh, “the former co-lead engineer of FTX Trading Ltd. … for his role in a multiyear scheme to… Read More >>

Filed Under: Derivatives Operations, Diversity, Equity, and Inclusion (DEI), FinTech Trends, Standards, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Compliance, Regulatory Reporting, Industry News Tagged With: CFTC, commodities fraud, compliance, cryptocurrencies, FTX, money laundering, SEC, securities fraud, U.S. District Court for the Southern District of New York, wall street

A Quick Warning About ‘Selling Away’

January 12, 2023 by Eugene Grygo

A Quick Warning About ‘Selling Away’

It’s the start of a new year and many investors will be reviewing their financial portfolios. Some of them may soon be reaching for antacids or for lower-shelf martinis. Given the volatility of global financial markets, investors at all levels will have to be forgiven if they’re a little vulnerable to the power of suggestion… Read More >>

Filed Under: FTF Bull Run Blog, Data Management, Industry News, Operational Risk, Risk Management, Diversity, Equity, and Inclusion (DEI), FinTech Trends, Standards, Opinion, Q&As, Performance Measurement, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Compliance Tagged With: compliance, FINRA, fraud detection, hedge fund fraud, operational risk, securities fraud, wall street

Crypto Scams Rob Investors of $575M: FTC

June 15, 2022 by Louis Chunovic

Crypto Scams Rob Investors of $575M: FTC

Some day digital fraudsters tricking regular folks out of their hard-earned money by promising a big-bucks payday for only a few hundred (or a few thousand) up front will spend a lot of hours inside courtrooms. And a lot of dollars on high-priced lawyers paid to get them out of their legal jams. Today is… Read More >>

Filed Under: Data Management, Private Markets, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), Artificial Intelligence, FinTech Trends, Blockchain/DLT, Standards, AML/Fraud/Financial Crime, Regulation & Compliance Tagged With: compliance, crypto crime, cryptocurrencies, fraud detection, FTC, regulatory reporting, securities fraud

CNR & SEC Settle Client Fraud Charges for $30M

March 8, 2022 by Louis Chunovic

CNR & SEC Settle Client Fraud Charges for $30M

Boutique registered investment adviser City National Rochdale (CNR) will pay more than $30 million to settle charges that its “undisclosed conflicts of interest defrauded current and prospective clients,” the U.S. Securities and Exchange Commission (SEC) reports. The $30 million-plus from CNR will be placed into an SEC fund for distribution to “harmed investors.” SEC officials… Read More >>

Filed Under: Securities Operations, Buy-Side, Data Management, Industry News, Operational Risk, Ops Automation, Governance, Back-Office, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Reporting, Industry News Tagged With: back office, CNR, conflicts of interest, fraud, governance, regulation, SEC, securities fraud, Standards

Avoiding Scams That Steal Your Heart & Money

February 9, 2022 by Eugene Grygo

Avoiding Scams That Steal Your Heart & Money

Just in time for Valentine’s Day, the CFTC has issued a Customer Advisory that is meant to serve as a warning for people who use online dating and social media platforms but get pulled into scams where they send money to “fraudulent websites that claim to trade foreign currency exchange (forex) contracts, precious metals contracts,… Read More >>

Filed Under: FTF Bull Run Blog, Securities Operations, Industry News, Operational Risk, Ops Automation, Fun & Recreation, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), FinTech Trends, Standards, Opinion, Minding the Gap, ESG Data & Investing, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Compliance, Regulatory Reporting, Social Media, Industry News Tagged With: automation, CFTC, compliance, Crypto-Fraud, financial fraud, foreign exchange, forex fraud, fraud detection, fraud scheme, operational risk, securities fraud, social media fraud

NY AG, Regulators Charge Safeguard Metals with Fraud

February 9, 2022 by Louis Chunovic

NY AG, Regulators Charge Safeguard Metals with Fraud

New York Attorney General Letitia James has filed suit against Safeguard Metals LLC, a precious metals company, and its owner and manager, Jeffrey S. Santulan, alleging that they defrauded investors, including many seniors, across New York and the United States. The lawsuit, originally filed by the U.S. Commodity Futures Trading Commission and a bipartisan coalition… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Clearing, Governance, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Derivatives, Regulatory Reporting Tagged With: CFTC, compliance, Dodd-Frank, NY Attorney General, OTC derivatives, regulatory reporting, SEC, securities fraud, Securities Operations

FBI, SEC & FINRA Warn Against Imposter Brokers

August 4, 2021 by Louis Chunovic

FBI, SEC & FINRA Warn Against Imposter Brokers

None other than Larson E. Whipsnade himself declared, “You can’t cheat an honest man.” That was in the 1939 movie of the same name, and Whipsnade was played by W.C. Fields. So, it should come as no surprise that the Federal Bureau of Investigation (FBI), the Securities and Exchange Commission (SEC), and the Financial Interest… Read More >>

Filed Under: Securities Operations, Buy-Side, Data Management, Industry News, Operational Risk, Ops Automation, General Interest, Governance, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Cybersecurity, Regulatory Compliance, Regulatory Reporting, Economic Sanctions, Social Media, Industry News Tagged With: automation, back office, compliance, data management, Dodd-Frank, FBI, Financial Crime, FINRA, fraud detection, SEC, securities fraud, Securities Operations

SEC Charges Crypto Fund Manager with Fraud

January 8, 2021 by Eugene Grygo

SEC Charges Crypto Fund Manager with Fraud

The SEC has taken legal action to freeze a flagship fund of cryptocurrency fund manager Virgil Capital LLC via the U.S. District Court of the Southern District of New York, alleging that the firm’s investors are at risk via fraud and related matters. The focus of the asset freeze request is the firm’s cryptocurrency trading… Read More >>

Filed Under: Securities Operations, Buy-Side, Data Management, Middle-Office, Operational Risk, Ops Automation, Risk Management, Governance, FinTech Trends, Back-Office, Blockchain/DLT, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Cybersecurity, Regulatory Reporting, Industry News Tagged With: blockchain, crypto-currency Bitcoin, cryptocurrency, data management, hedge fund fraud, SEC, securities fraud, Virgil Capital LLC

Financial Crime Probes Miss the Mark: Report

October 27, 2020 by Louis Chunovic

Financial Crime Probes Miss the Mark: Report

Banks and other financial firms are expected to encounter “increasing risks and exposure to losses” because of “hackers and online adversaries.” That is the top-line conclusion of the 2020 Global Financial Crimes Survey, conducted by Authentic8, in partnership with the Association of Certified Financial Crime Specialists (ACFCS). Authentic8 offers a platform that “enables anyone, anywhere,… Read More >>

Filed Under: Securities Operations, Data Management, Operational Risk, Ops Automation, Governance, Artificial Intelligence, FinTech Trends, Back-Office, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Cybersecurity, Regulatory Compliance, Industry News Tagged With: AML Compliance, bribery scheme, Financial Crime, fraud, fraud detection, GRC, reputational risk, securities fraud, tax evasion

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