What a difference a day can make. The T+1 implementation for capital markets went live in the U.S., Canada and Mexico on Tuesday (May 28), accelerating the settlement cycle for securities from T+2 to T+1. And against that backdrop, financial institutions (FIs) are under increasing pressure...
The head of the SEC says new cryptocurrency legislation will undermine his agency’s work. Hours before a scheduled vote Wednesday (May 22), Securities and Exchange Commission (SEC) Chair Gary Gensler issued a statement decrying The Financial Innovation and Technology for the 21st Century Act (FIT 21). The legislation, Gensler said,...
New York Community Bank (NYCB) is the target of a class-action lawsuit alleging securities fraud. The lawsuit comes after the bank acquired certain assets of Signature Bridge Bank on March 20, 2023, and reported a fourth quarter net loss of $252 million on Jan. 31,...
The U.S. subsidiary of Industrial and Commercial Bank of China (ICBC) reportedly disconnected itself from an electronic settlement platform for U.S. Treasury securities operated by BNY Mellon after ICBC suffered a ransomware attack, Reuters reported Friday (Nov. 10). In the meantime, BNY Mellon is manually...
August 29, 2023
The year 2023 will forever be remembered as the year the U.S. Securities and Exchange Commission (SEC) went to war with crypto. Determining who is truly trying to innovate a new and exciting financial category, versus who is a digital asset scam artist, remains among the central questions circling the crypto space. This, as the […]
July 26, 2023
The U.S. crypto crackdown started at the top, but the sector’s fractures were bottom-up. Some of the digital asset industry’s biggest names, like Coinbase and Binance, found themselves afoul of U.S. federal...
March 12, 2018
A hammer? A velvet hammer? A helping hand? No one knows at this point, when it comes to a duo of acronyms now inextricably linked: The SEC and ICOs. Last week,...
June 28, 2024
The Securities and Exchange Commission (SEC) sued Consensys Friday (June 28), charging the blockchain and Web3 software company with engaging in the unregistered offer and sale of securities and with operating as an unregistered broker. These charges center on two services offered by Consensys Software: MetaMask Staking and MetaMask Swaps, the regulator said in a Friday (June 28) press release. […]
May 22, 2024
The head of the SEC says new cryptocurrency legislation will undermine his agency’s work. Hours before a scheduled vote Wednesday (May 22), Securities and Exchange Commission (SEC) Chair Gary Gensler issued a statement decrying...
February 07, 2024
New York Community Bank (NYCB) is the target of a class-action lawsuit alleging securities fraud. The lawsuit comes after the bank acquired certain assets of Signature Bridge Bank on March...
November 10, 2023
The U.S. subsidiary of Industrial and Commercial Bank of China (ICBC) reportedly disconnected itself from an electronic settlement platform for U.S. Treasury securities operated by BNY Mellon after ICBC suffered...
