Tag: New York Attorney General

New York Attorney General

And Another Thing…

In this week’s In the FICC of It podcast I mention how I like my hedge funds to be a bit “crazy” and my colleague and fellow podcaster, Galen Stops, suggests if I want to live on the edge then I should look at crypto funds. He’s right. If ever there was a crazy world, it’s crypto-land and this week highlighted this with some fantastic instances of “dolly out of the pram” tantrums! Generally speaking, when regulators talk, markets listen – not in crypto apparently, there they poke the bear!

New York Attorney General Highlights Crypto Platform Concerns

A new report by the New York State Office of the Attorney General (OAG) claims that certain cryptoasset trading platforms suffer from potential conflicts of interest, have yet to implement serious efforts to impede abusive trading activity and provide customer fund protections that are either limited or illusory.

The OAG’s Virtual Markets Integrity Initiative was launched in April 2018 as a fact-finding inquiry into the policies and practices of virtual asset trading platforms. The OAG sent letters and questionnaires to thirteen major trading platforms, with the questions reflecting areas of special concern for everyday retail customers, such as site outages, fees, and the effects of automated or “bot” trading.

A New Twist On An Old Investigation? FX Options Brokers Still Under Scrutiny

In November last year Profit & Loss reported on an investigation by New York Attorney General Eric Schneiderman into practices and conduct on the FX options desks of three major inter-dealer brokers. Now, according to a report, that investigation is not only ongoing, but it has broadened beyond the original “spoofing” or “flying” of fake bids and offers, into a look at the what may be the inappropriate sharing of market information and the rigging or influencing of market auctions.