- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-01-16T18:24:00
Virtual currency brokerage firm Genesis Global Trading agreed to pay an $8 million penalty levied by the New York State Department of Financial Services (NYDFS) for alleged compliance failures that left it vulnerable to illicit activity and cybersecurity threats.
Genesis Global Trading is in the process of winding down operations, said the NYDFS in its press release Friday, a year after other Genesis businesses filed for bankruptcy as part of a restructuring plan.
The settlement requires Genesis Global Trading to surrender its BitLicense allowing it to conduct virtual currency business activity in New York.
2024-08-28T17:41:00Z By Aaron Nicodemus
Finland-based Nordea Bank will pay $35 million to resolve an investigation by the New York Department of Financial Services into “significant compliance failures” in its anti-money laundering and Bank Secrecy Act program.
2024-03-19T17:53:00Z By Aaron Nicodemus
Crypto firm Genesis Global Capital agreed to pay a $21 million civil penalty to the Securities and Exchange Commission to settle charges that the Gemini Earn investment program was an unregistered security offering.
2024-02-29T19:18:00Z By Jeff Dale
The New York State Department of Financial Services fined cryptocurrency exchange Gemini Trust Company $37 million over alleged compliance failures related to lapses in safety and soundness.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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