The World Federation of Exchanges’ Post

🗓 Intermediaries are reminded that the over-the-counter securities transaction reporting regime (OTCR) will be effective from 25 September 2023. Please complete your testing and preparation on WINGS by 18 September 2023 (1 week before launch of OTCR).   ❗ Proposed Action : Review the updated versions of OTCR documents 🔗 https://lnkd.in/guaj4EFH ✅ Relevant to Securities and Futures Commission Intermediaries 📍 Hong Kong Circular to Intermediaries 🔗 https://lnkd.in/dPd-FNNs #otc #otcr #sfc #hongkong #regulatoryupdate #regulatorychange #horizonscanning #compliance

Hong Kong Government Launches Consultation on the Regulation of OTC Virtual Asset Trading ...https://lnkd.in/dRwesKA6 #CryptoMarket #CryptoRegulations #CryptoScams&Alerts #Financial #Web3 #Announced #asset #cryptodaily #hong #Kong #market #Measures #money #otc #regulation #regulations #regulatory #Scams #trading #virtual #Web3 #cryptonews #lolacoin #cryptomarket #finance

Close on the heels of PRA's fine on Citibank, CFTC imposes a significant monetary penalty of $200mn on J.P. Morgan (JPM) to trade surveillance gaps and failure to supervise diligently! Back in June 2021, J.P.Morgan Securities LLC identified significant gaps in its surveillance of trade and order data. These gaps impacted atleast 30 global trading venues that involved surveillance of multiple products some of which dates as far back as 2014! Surveillance gaps are attributed to configuaration issues that led to J.P. Morgan failing to ingest direct-from-exchange order and trade data into a 3rd party surveillance system that resulted in billions of orders on a particular venue not being captured by the surveillance systems which in turn adversely impacted the surveillance of trading activities significantly. It is worth noting that JPM uses 3 primary alert types within SMARTS, a 3rd party trade surveillance system to detect potential spoofing and layering. From a risk management perspective, the identified surveillance gaps pose significant risks to market integrity and investor protection. Failure to capture complete trade and order data from exchanges could potentially enable market manipulation or other illicit activities that tend to go undetected which is quite essential to ensure the effectiveness of surveillance mechanisms in maintaining market transparency and fairness! #frontofficesupervision #tradesurveillance #layering #spoofing #financialmarkets

TabbFORUM at FIA Boca 2024: TradingHub’s Mike Coats Talks Trade Surveillance In this segment of TabbFORUM at FIA Boca 2024, Mike Coats, CTO of TradingHub, discusses the rise in regulatory enforcement actions globally, but particularly in the U.S. In this interview, conducted by TABB Group CEO Bruce Morris, Mr. Coats explains that banks have become more vigilant to weed out market manipulation, given the "muscular stance" of regulators, and how these enforcement actions show the complexity involved in manipulation today, as they cut across asset classes. Mr. Coats spoke with TabbFORUM at FIA Boca 2024, held March 11-13, 2024. #fiaboca2024 #regulation #tradesurveillance #marketmanipulation #spoofing #crossasset https://lnkd.in/dzUMS-5V

Hello TBML Analysts & Experts. I hope you you are doing well. Let’s talk about Open Account Transactions. As per regulatory body it has been categorised as high risk transaction from TBML perspective but 1. It’s a pre-settled transaction between importer & exporter 2. Goods are probably consumed by the importer 3. Shipment is clear, free from sanctions 4. Commodity is exchanged as per IPO What risk does it possess except the typical daily routine red flags? ⛳️🤔🧐 #tbml #financialcrime #moneylaundering #letsconnect

The 50th edition of ITFA's Annual International Trade & Forfaiting Conference in Limassol, #Cyprus, is just under one month away. Co-chair of ITFA's Fraud Working Group and MonetaGo's Global Sales Head, Ian Milne, will be in attendance alongside multi-lateral banks, financiers, insurers, and fintech experts to discuss digitalisation and barriers to success for rapid growth of the receivables market. Don't miss the opening futurist keynote featuring Constantinos Petrides, Former Minister of Finance - Cyprus, and Natasha Condon, Payments - Global Head of Trade Sales and EMEA Trade Region Head, JPMorganChase, as they shed light on tomorrow's Electronic Trade Documents and how they will affect trade finance going forward. Contact us to meet and hear the latest from MonetaGo on global best practice in registries and fraud prevention measures for finance and trade practitioners. See the full conference programme via the link in comments. #internationaltrade #globaltrade #tradefinance #digitalisation #digitaltrade

TabbFORUM at FIA Boca 2024: TradingHub’s Mike Coats Talks Trade Surveillance In this segment of TabbFORUM at FIA Boca 2024, Mike Coats, CTO of TradingHub, discusses the rise in regulatory enforcement actions globally, but particularly in the U.S. In this interview, conducted by TABB Group CEO Bruce Morris, Mr. Coats explains that banks have become more vigilant to weed out market manipulation, given the "muscular stance" of regulators, and how these enforcement actions show the complexity involved in manipulation today, as they cut across asset classes. Mr. Coats spoke with TabbFORUM at FIA Boca 2024, held March 11-13, 2024. #fiaboca2024 #regulation #tradesurveillance #marketmanipulation #spoofing #crossasset https://lnkd.in/dzUMS-5V

The CFTC has recently implemented changes to the requirements for covered entities to fulfill their large trader reporting (LTR) obligations. With the new rule, the CFTC staff now holds the authority to establish submission standards for large trader reports without notice or an opportunity for public comment. This shift raises concerns about potential violations of the Administrative Procedure Act. For more information on the CFTC's new LTR rules and their impact on reporting firms, download the Alert below. #CFTC #commodities

On today's episode of Trends in Currency Exchange 🌐 Regulatory Changes Regulations surrounding currency exchange were evolving, with a focus on anti-money laundering (AML) and know your customer (KYC) requirements. Complying with these regulations was a significant challenge for the industry. #trendsincurrencyexchange #foreignexchange #aml #kyc #regulatorychanges #wednesday #fsicapital

#BinanceHoldings, Ltd. (“#Binance”), a #caymanislands virtual currency exchange with affiliates around the world, has agreed to pay $968,618,825 to settle its potential #civilliability. The #settlement amount also reflects Binance’s settlements with the Department of Justice (#DOJ), the Financial Crimes Enforcement Network (#FinCEN), and the Commodity Futures Trading Commission (#CFTC), as well as the company’s agreement to retain an Independent #Compliance Monitor (the “Monitor”) for five years, whose scope of work will include sanctions compliance. #ofac #moneylaundering #sanctionscompliance #sanctions #exportcompliance #exportcontrol #