B2Core Releases New iOS Update Featuring cTrader Integration
B2Core has released a new iOS update that integrates the cTrader trading software, aiming to enhance the user experience and functionality for traders. The update brings a range of new features, including simplified market monitoring and order execution. The integration also offers more news analysis, market insights, and charting options directly on the app.
The update leverages B2Broker's liquidity service across more than 1,000 financial instruments, offering traders more options to diversify their portfolios. The merger between B2Core and cTrader aims to provide a comprehensive trading experience, allowing users to manage everything from registration to fund transfers in one place.
CFTC's Whistleblower Program Reports Significant Results
The Commodity Futures Trading Commission (CFTC) has released its 2023 Annual Report on the Whistleblower Program, revealing that the program has awarded nearly $350 million to whistleblowers. These awards have led to more than $3 billion in enforcement sanctions. The report further highlighted that the majority of tips received this year involved crypto-related fraud.
"This includes $16 million in awards this year, including more than $15 million to two whistleblowers who provided significant information and assistance that led the CFTC to bring separate successful enforcement cases," the CFTC commented.
The Whistleblower Program provides both incentives and protections for individuals who come forward with information. The report confirmed that the program received 1,530 tips this year, the highest number ever, emphasizing whistleblowers' critical role in CFTC investigations.
Komainu to Boost Institutional Crypto Services in Japan
Komainu (a regulated digital asset custody service) and Crypto Garage (a subsidiary of Digital Garage) have announced a collaboration to enhance institutional crypto services in Japan. The partnership will focus on developing advanced digital asset custody solutions with an emphasis on security and compliance.
Digital Garage is also investing in Komainu to accelerate its market presence in Japan. The collaboration aims to provide a secure and reliable platform for managing digital assets, targeting the growing interest of Japanese institutions.
The venture is backed by Nomura Holdings Inc. and Digital Garage Inc. It aims to instill confidence in Japanese institutions by showcasing a strong commitment from traditional finance sectors. Both companies share a vision of providing crypto services that meet high standards of security, compliance, and user experience, and this collaboration is seen as a significant step forward in the evolution of the institutional crypto landscape in Japan.
FINRA Announces Departure of Deputy Head of Enforcement
The Financial Industry Regulatory Authority (FINRA) has announced that Christopher Kelly, the Deputy Head of Enforcement, will be leaving the organization to pursue other opportunities. Kelly has been with FINRA for nine years and has overseen the work of FINRA's Enforcement attorneys nationwide. He departed after serving as the Acting Head of Enforcement from February to August 2023.
FINRA's CEO, Robert Cook expressed gratitude for Kelly's contributions to investor protection and enforcement. The organization will conduct a search to select a new Deputy Head of Enforcement, emphasizing the importance of the role in overseeing regulatory compliance and investor protection.
FMA Charges Former Financial Adviser
The Financial Markets Authority (FMA) has charged a former financial adviser, Natalie Ann Carter, with multiple counts of dishonesty, including making false documents and obtaining documents by deception. Carter pleaded guilty to eight of the 15 charges against her in Napier District Court. She is accused of creating false documents to obtain home loans for herself and two clients, totaling $2.91 million in value.
The FMA initiated the investigation after Carter's engagement at a Hawke's Bay-based brokerage was terminated in January 2020. Carter also attempted to join another brokerage in April 2021 and allegedly made false statements during the application process. She faces a maximum penalty of 10 years' imprisonment for the lead charge under the Crimes Act.
ZA Bank Opens Operating Account for OKX Hong Kong
ZA Bank, Hong Kong's leading virtual bank, has opened an operating account for OKX Hong Kong, a global virtual asset exchange. The account will support OKX Hong Kong's daily banking needs and its plans to apply for various licenses under Hong Kong's regulatory framework. ZA Bank aims to become the go-to banking partner for SFC-licensed Virtual Asset Trading Platforms (VATPs) and Web3 companies in Hong Kong.
ZA Bank's collaboration with OKX is part of its broader 'Banking for Web3' vision. The bank is excited to work closely with OKX to support the development of a vibrant Web3 ecosystem in Hong Kong under the new licensing regime for VATPs.
MAS Imposes Six-Month Pause on DBS Bank's Non-Essential Activities
The Monetary Authority of Singapore (MAS) has imposed a six-month pause on non-essential IT changes at DBS Bank to focus on restoring the resilience of its digital banking services. This action follows repeated disruptions in DBS Bank's services earlier this year. An independent third-party review identified shortcomings in the bank's system resilience, incident management, and technology risk governance.
MAS has directed DBS Bank to suspend all changes to its IT systems except those related to security, regulatory compliance, and risk management. The bank is also prohibited from reducing the size of its branch and ATM networks during this period. MAS will review the bank's progress at the end of six months and may extend the duration of the measures based on the review.
