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Steven Lofchie Commentary by Steven Lofchie

The SEC entered into a Stipulation of Partial Dismissal, approved by the District Court of the Southern District of New York, to dismiss in their entirety, charges filed by the SEC against two of the Ripple defendants for engaging in unregistered distribution of securities in violation of Securities Act.

A New York bank settled charges with the Federal Reserve Board and New York Department of Financial Services for supervisory and Bank Secrecy Act compliance deficiencies in connection with the bank’s issuance of prepaid card accounts