A cryptocurrency exchange settled New York State Department of Financial Services charges for failing to establish a compliance program to satisfy (i) New York banking law and (ii) NYDFS virtual currency, money transmitter, transaction monitoring and cybersecurity regulations.
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The FDIC and the Federal Reserve Board issued a joint letter to a digital asset custodian stating that the firm has been making "false and misleading" statements that customers who have opened accounts benefit from FDIC insurance.
Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.
The CFPB charged a credit-repair software and solutions company and its CEO with assisting credit-repair businesses in their collection of advance fees from consumers, in violation of the Telemarketing Sales Rule.
The Secretary of the Treasury provided a limited exemption from qualified financial contract recordkeeping requirements to two broker-dealer subsidiaries of a financial services company.