Prime Broker Bequant Adds Risk-Monitoring Service in Push for Added Compliance
Bequant is adding New York-based Solidus Labs’ surveillance tools to its digital asset services business.
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Bequant is on its way to becoming a fully licensed prime broker for digital assets, with the option for more securities licenses in Malta.
Bequant added separately managed accounts, derivatives trading and instant fund transfers in a bid to compete with rival prime brokers.
On Thursday, Apifiny, a global digital asset trading and mining network, announced the company’s subsidiary Apifiny Prime has been granted a broker-dealer license from the Financial Industry Regulatory Authority (FINRA). The firm now joins the ranks of brokerage and exchange businesses like Coinbase, Etoro, and Circle. FINRA Grants Apifiny Prime a Broker-Dealer License The leading regulator that oversees American broker-dealers, FINRA has granted a broker-dealer license to Apifiny Prime. The license allows Apifiny to make private investor placements and vend securities,....
The California-based company Identitymind that helps prevent fraudulent transactions is offering low-cost regulatory compliance services to bitcoin startups. Identitymind's IGNITE allows new bitcoin businesses to get up and running with compliance quickly. Neal Reiter, product manager for Identitymind, said in a statement: "Our goal is to provide start-ups the compliance help they need to focus on growing their business, not AML [anti-money laundering]". What IGNITE does. The $150 monthly fee lasts the first six months. Startups using IGNITE will get monitoring for up to 5,000 transactions....
The Risk Alert seemed to take particular aim at broker-dealers, who have been "inadequate" in their AML compliance. The Security and Exchange Commission's Division of Examinations published on Friday a blueprint for investment managers and institutions on how the division will inspect the handling of crypto assets, or “digital asset securities,” moving forward. The division (formerly the Office of Compliance Inspections and Examinations) is the second-largest wing of the SEC and is tasked with overseeing securities industry players to ensure regulatory compliance. Targeted toward....