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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-01-20T20:39:00
A commissioner at the Commodity Futures Trading Commission (CFTC) called out gatekeepers—lawyers, accountants, auditors, compliance professionals, and others—for failing customers in the unregulated cryptocurrency market.
In a speech delivered Wednesday at the Wharton School and University of Pennsylvania Carey Law School, Christy Goldsmith Romero said gatekeepers must not allow the “promise of riches” to be gained working for cryptocurrency businesses “to silence their objections to obvious deficiencies.”
“In traditional finance, these gatekeepers have an important role to play in protecting customers, investors, and market integrity,” said Goldsmith Romero, a former federal prosecutor. “The role of the gatekeeper is to promote good corporate governance, instill operational discipline, ensure compliance with required standards and the law, and prevent and detect fraud and other unlawful activity.”
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
Register for free
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2023-06-29T18:40:00Z By Jeff Dale
The former chief compliance officer at cryptocurrency exchange FTX paid off whistleblowers and their lawyers trying to expose the company’s fraud, according to a lawsuit filed in bankruptcy court by FTX and its debtors.
2023-06-21T21:45:00Z By Adrianne Appel
The Commodity Futures Trading Commission’s Technology Advisory Committee sponsored by Commissioner Christy Goldsmith Romero is crafting potential rulemaking to establish cyber resiliency baselines among swap dealers and futures commission merchants.
2023-05-08T20:05:00Z By Adrianne Appel
New York would be the first state in the nation to comprehensively regulate cryptocurrency under a sweeping bill introduced by Attorney General Letitia James.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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