- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2022-02-28T20:27:00
The New York State Department of Financial Services has initiated an investigation into cryptocurrency exchange platform Coinbase relating to its compliance program.
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Cryptocurrency exchange Coinbase agreed to pay $100 million as part of a settlement with the New York State Department of Financial Services for compliance failures that opened the door for criminals to carry out illegal activity through the platform.
Coinbase is the subject of a class-action lawsuit alleging cybersecurity failures at the cryptocurrency exchange are to blame for customer accounts losing thousands of dollars in crypto, with the company not doing enough to prevent further thefts.
By reacting to Coinbase’s now-scrapped Lend program proposal with a Wells Notice, the SEC sent a message that cryptocurrency companies should not expect the agency to bend to their will.
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
