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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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 Secretary of the Treasury provided a limited exemption from qualified financial contract recordkeeping requirements to two broker-dealer subsidiaries of a financial services company.
The U.S. Treasury Department amended certain broker-dealer recordkeeping and reporting rules to conform to recently updated SEC rules for broker-dealers.
An investment bank agreed to pay $205 million as part of an agreement with the New York Department of Financial Services to settle claims of "unsafe and unsound" foreign exchange trading practices.