SEC Charges 26 Financial Firms $392 Million for Widespread Recordkeeping Failures

by Theresa Joy Lacatan | Aug 17, 2024 | Blog News, Crypto News

On 14 August, 2024, the Securities and Exchange Commission (SEC) announced a landmark enforcement action against 26 broker-dealers, investment advisers, and dually-registered entities for widespread and systemic failures in maintaining and preserving electronic...

Nasdaq ISE Withdraws Proposals to Trade Bitcoin and Ether Trust Options Following Extensive SEC Deliberations

by Theresa Joy Lacatan | Aug 17, 2024 | Blog News, Crypto News

On 14 August, 2024, the Securities and Exchange Commission (SEC) Chairman Gary Gensler released a statement highlighting the growing influence of artificial intelligence (AI) in financial markets and the potential risks it poses to investors. With AI increasingly...

CFTC Orders Major Penalties for Recordkeeping, Supervision, and Communication Failures at Truist Bank, TD Bank, and Cowen

by Theresa Joy Lacatan | Aug 17, 2024 | Blog News, Crypto News

On 14 August, 2024, the Commodity Futures Trading Commission (CFTC) levied significant penalties on three prominent financial institutions—Truist Bank, The Toronto Dominion Bank (TD Bank), and Cowen and Company—for pervasive failures related to recordkeeping,...

SEC Chairman Warns of AI’s Impact on Investment Decisions and Potential Conflicts of Interest

by Theresa Joy Lacatan | Aug 15, 2024 | AI News, Blog News

On 14 August, 2024, the Securities and Exchange Commission (SEC) Chairman Gary Gensler released a statement highlighting the growing influence of artificial intelligence (AI) in financial markets and the potential risks it poses to investors. With AI increasingly...

MAS Signs MoU with Banks and Tech Partners to Bolster Quantum Computing Security Against Emerging Threats

by Theresa Joy Lacatan | Aug 15, 2024 | AI News, Blog News

On 14 August 2024, the Monetary Authority of Singapore (MAS) signed a Memorandum of Understanding (MoU) with major banks and financial institutions to reinforce the country’s financial sector against potential cybersecurity threats from quantum computing. This MoU,...

US SEC and Latvijas Banka Join Forces to Strengthen Virtual Asset Oversight

by Theresa Joy Lacatan | Aug 14, 2024 | Blog News, Crypto News

On 13 August, 2024, in a significant step towards enhancing the security and resilience of the digital asset sphere, the United States and Latvia have embarked on a joint initiative to bolster supervision and regulation of operational risks associated with virtual...