JPMorgan Chase CEO Jamie Dimon last month branded cryptocurrencies “decentralized Ponzi schemes.” Now the bank has hired its first head of digital assets regulatory policy, Bloomberg reports. Aaron Iovine, former head of policy and regulatory affairs for bankrupt cryptocurrency lender Celsius Network, joined JPMorgan this week, a spokesperson ...Read More

The Financial Industry Regulatory Authority Inc. said Thursday it had reached a settlement with two broker-dealers under the roof of Raymond James Financial Inc. for a variety of compliance failures, including missing red flags when overcharging clients. The two Raymond James firms agreed to Finra’s settlement ...Read More

The hedge fund firm formerly known as Och-Ziff “deteriorated” under the “mismanagement” of its founder Daniel Och, forcing those who succeeded him to spend years stabilizing the Wall Street firm, the company said in court filings. Och’s handling of a 2016 African bribery scandal ...Read More

A Massachusetts investment advisor has pleaded guilty to multiple counts of fraud and other charges after a failed attempt to flee the country while he was awaiting trial. Steven Xigoros, of Lowell, Mass., is facing up to 25 years in prison for defrauding clients ...Read More

Cryptocurrency exchange FTX, its FTX US division, and founder and CEO Sam Bankman-Fried are being investigated by Texas regulators over potential securities violations, according to a state filing. Regulators are probing whether yield-bearing accounts offered by FTX US should be considered unregistered securities, as described ...Read More

State Street Corp. said it appointed Yvette Hollingsworth Clark as its new global chief compliance officer. Ms. Hollingsworth Clark comes to the financial services company from technology giant Alphabet Inc., where she most recently served as the head of compliance for Google’s consumer trust business. Before Google, Ms. Hollingsworth ...Read More

By Craig Focadi At our Compliance Week webinar “When You Have to be Right: The Top 10 Compliance Management Considerations for 2023 “ on September 29th Elaine Duffus, (esq.) Senior Specialized Consultant, Wolters Kluwer Compliance Solutions and I presented on how financial institutions can ...Read More