Fun

News Feed - 2023-10-17 02:10:55

Derek Andersen6 hours agoSEC plans scrutiny of crypto dealer-brokers, transfer agents, per 2024 exam guideThe SEC sets examination priorities based on feedback from examiners and input from investors and the industry.1050 Total views5 Total sharesListen to article 0:00NewsJoin us on social networksThe United States Securities and Exchange Commission released its 2024 examination priorities report on Oct. 16. The agency’s Division of Examinations has been publishing similar reports for over a decade to let its registrants know the emerging risks it will be focusing on. Crypto dealer-brokers, among others, have been given notice.


The SEC’s Examinations Division expanded its capacity and set up teams within its various programs to address crypto, fintech, artificial intelligence and cybersecurity in 2023, the report says. It adds that the SEC is continuing to observe broker-dealers and advisers working in crypto.


The division was looking at registrants that offer new practices, “particularly technological and online solutions that service online accounts aimed at meeting the demands of compliance and marketing,” such as “automated investment tools, artificial intelligence, and trading algorithms or platforms.”


Related: Coinbase continues push to compel SEC to act on crypto rulemaking petition


Examinations will look at how well registrants meet standards of conduct regarding customer advice and their understanding of the products the registrants offer. The report mentions older investors and retirement assets specifically. They will also ensure that registrants are complying with the latest guidance. Here, “custody requirements under the Advisers Act” were singled out. The handling of risks associated with using blockchain and distributed ledger technology will also be assessed. 


Examinations of transfer agents servicing crypto asset securities issuers or using emerging technologies in their work are mentioned separately. Interesting to see that the SEC has identified prep for T+1 as an examination priority for brokers in 2024. The list is usually focused on things less plumbing-related, but it shows they're going to be getting the red pens out before May next year. #finreg pic.twitter.com/RsPnL6JZtq— Virginie O'Shea (@virginieoshea) October 16, 2023


The Division of Examinations has published examination updates before, but this is the first time one has appeared at the beginning of the new fiscal year. Division Director Richard Best said: “Continuing to make our examination priorities public increases transparency into the examination program and encourages firms to focus their compliance and surveillance efforts on areas of potentially heightened risk to retail investors.”


According to the SEC, examination priorities are determined based on feedback from examination staff in the previous year, as well as from investors, industry groups and similar sources.


Magazine: Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame# Cryptocurrencies# Security# SEC# Cybersecurity# Digital Asset# RegulationAdd reactionAdd reactionRead moreWho invented NFTs?: A brief history of nonfungible tokensThe economy is surging — which means it might be time to start buying BitcoinNFTs aren’t dead — they’re just resting

News Feed

Poland, Romania Rank in Top 10 for Number of Bitcoin ATMs, World’s Total Exceeds 23,000
Poland, Romania Rank in Top 10 for Number of Bitcoin ATMs, World’s Total Exceeds 23,000 Two East European nations, Poland and Romania, are now among the top 10
8 People Arrested in Argentina Linked to Onecoin Ponzi Scam
8 People Arrested in Argentina Linked to Onecoin Ponzi Scam The Public Prosecutor’s Office of the Argentine city of Córdoba has indicted 12 people i
Coinbase Enables Crypto Buys With Apple Pay, Instant $100K Cashouts, Google Pay to Follow
Coinbase Enables Crypto Buys With Apple Pay, Instant $100K Cashouts, Google Pay to Follow The Nasdaq-listed cryptocurrency exchange Coinbase has enabled crypto b
Prashant Jha12 hours agoChina court declares virtual assets legal properties protected by law: ReportDespite a blanket ban on cryptocurrencies imposed by Beijing in 2021, many Chinese courts over the years have establish
Arijit Sarkar2 hours agoSK Telcom to launch Web3 wallet with Aptos and Atomrigs LabThe South Korean telecommunications giant aims to expand its “affiliations with customer-preferred mainnets and decentralized applicati
Robert Kiyosaki Discusses Why Gold, Silver, Bitcoin Are Rising Higher
Robert Kiyosaki Discusses Why Gold, Silver, Bitcoin Are Rising Higher The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has shared his view on why the
Martin Young3 hours agoCourt rules in favor of HelbizCoin investors; class action to go aheadA U.S. federal court has upheld claims by HBZ investors that the company acted fraudulently and also asserted that its token vi
Myrtle Anne Ramos11 hours agoNavigating decentralized governance in Web3: Balance of transparency and controlFinally, as we move forward on emerging technologies such as AI and decentralization, let us remember to remain
US Lawmaker: Crypto Assets Are Here to Say, Diversified Portfolios Should Have Crypto Exposure
US Lawmaker: Crypto Assets Are Here to Say, Diversified Portfolios Should Have Crypto Exposure U.S. Senator Pat Toomey says that crypto assets are here to stay and “a thorou
Ethereum Profit Streak Signals ATH Breakout For Over 90% Of Investors
Este artículo también está disponible en español. Ethereum (ETH) is once again in the news, but this time it’s good news for buyers. Recent data shows that over 90%
Previous Bitcoin Bull Run Patterns Suggest Current Run Could See a $160K Top, Possible $25K Bottom
Previous Bitcoin Bull Run Patterns Suggest Current Run Could See a $160K Top, Possible $25K Bottom While digital currency markets have increased significantly in
Bitcoin’s Mining Difficulty Taps All-Time High — 220 Exahash of Hashpower Remains Strong
Bitcoin"s Mining Difficulty Taps All-Time High — 220 Exahash of Hashpower Remains Strong Bitcoin’s mining difficulty reached a new all-time high at block height 753,984 fr