Sheena Kanabar Joins Capital.com as Group CCO
Capital.com has announced the appointment of Sheena Kanabar as its Group Chief Compliance Officer (CCO). Operating out of London, Kanabar will oversee the company's worldwide compliance teams and ensure strict compliance with regulatory standards across the organization. As confirmed by the Group CEO, Peter Hetherington, this appointment underlines Capital.com's ongoing focus on upholding high regulatory standards.
Before her new role at Capital.com, Kanabar amassed a wealth of experience in the global brokerage sector. She previously served as Group CCO at ADSS, where she shaped the global compliance strategy. Her tenure at ADSS followed an 11-year stint at CMC Markets, where she held several senior compliance positions.
“We are delighted to welcome Sheena to our leadership team. In addition to working closely with regulators worldwide and fostering a strong culture of compliance throughout the organisation, Sheena’s expertise will be instrumental in helping us drive growth in-step with the highest regulatory standards,” said Hetherington.
BVNK Promotes McLennan
Graham Mc Lennan, who joined BVNK in May as a trader, has quickly risen through the ranks. Over a year and a half, he moved from the Senior Trader to the Liquidity & Execution Manager, and in September 2023, he was promoted to the Head of Liquidity Solutions.
In the past, Mc Lennan worked for IG Group as the Equity Dealer and as the Accounts Clerk at Jay Bee Castings CC.
"I’m happy to share that I’m starting a new position as Head of Liquidity Solutions at BVNK,” Mc Lennan commented on his LinkedIn profile.
BVNK, located in London, offers banking and payment services related to cryptocurrency.
Zodia Custody Partners with OpenEden
Zodia Custody has partnered with OpenEden to offer institutional investors yield opportunities through ‘Zodia Custody Yield’. The partnership aims to provide low-risk, liquid, and transparent digital asset products with bank-grade security. Institutions will have access to real-world yield potential from US Treasury bills, enabled by OpenEden's platform, which offers on-chain security and transparency.
“There’s a lot in the world of traditional finance that can be moved to digital assets," said Julian Sawyer, the CEO of Zodia Custody.
“The challenge is how to bring some of the benefits to the world in a safe, compliant and regulatory-first way. Our first such partnership with OpenEden is exactly how we do this — by bringing access to yield products to our clients.”
Loo Pleads Guilty to Multiple Charges
Yuen Pok (Paul) Loo pleaded guilty to a series of criminal charges in the Manukau District Court, including forgery and financial markets legislation offenses. The charges were brought by New Zealand's Financial Markets Authority (FMA).
Loo was found guilty of forging a letter from the FMA to grant his company, Wisdom House Investment Partners Limited, a full financial advice provider license. He also provided financial services without proper registration and failed to comply with FMA's orders. Loo is scheduled for sentencing on 20 December 2023.
Japanese Brokerages Woo Wealthy Investors
Japanese brokerage firms are targeting the country's growing wealthy population with more alternative assets. Mizuho Securities Co. is leading the way, expecting increased sales this fiscal year after selling about $102 million worth of funds focused on private assets.
The Tokyo-based firm is expanding its offerings, including private credit, and has increased its team dedicated to developing alternative funds for wealthy clients.
CFTC Grants Whistleblower Awards Totaling $15 Million
The Commodity Futures Trading Commission (CFTC) has granted over $15 million in whistleblower awards to two individuals. These whistleblowers provided significant information that led to successful enforcement actions by the CFTC. One of the recipients interpreted key evidence and helped identify new lines of inquiry, while the other facilitated the appearance of another witness and provided a declaration in support of the matter.
“These awards illustrate the success of our whistleblower program,” said Ian McGinley, the Director of the Division of Enforcement. “The program incentivizes whistleblowers like these two to come forward with accurate information, including evidence of ongoing misconduct, to help protect market participants and hold wrongdoers accountable.”
NFA Fines Houston-Based Bosworth Brokers LLC
The National Futures Association (NFA) has fined a Houston-based introducing broker, Bosworth Brokers LLC and one of its principals, Andrew Michael Gizienski, $100,000 each. The fines were imposed for failing to comply with recordkeeping obligations and for violating principles of trade. The decision was based on a settlement offer in which they neither admitted nor denied the allegations.
“In its Decision, the Panel found that Bosworth Brokers LLC and Bosworth violated NFA Compliance Rule 2-9; that Bosworth Brokers LLC violated NFA Compliance Rule 2-10 and NFA Registration Rule 208; and that Gizienski violated NFA Compliance Rule 2-4,” the NFA commented.
OKX Achieves SOC 2 Type II Certification
OKX, a crypto exchange, has completed the Service Organization Control (SOC) 2 Type II audit, affirming its commitment to high safety, security, and compliance standards. The certification is a testament to OKX's efforts in ensuring a premium user experience and robust infrastructure. An independent external auditor conducts the audit and reviews the company's policies, procedures, and controls over an extended period.
“Completing the SOC 2 Type II audit is an important achievement for OKX, because of the reassurance it provides to all our users, and the diligence and time commitment required in the pursuit of this certification,” said Hong Fang, the President of OKX
