News Nuggets | 20 September: Capital.com Hires New CCO; BVNK Promotes Head of Liquidity

<p>Sheena Kanabar Joins
Capital.com as Group CCO</p><p><a href="https://www.financemagnates.com/tag/capital-com/" target="_blank" rel="follow">Capital.com</a>
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.</p><p>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. </p><p>“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.</p><p>BVNK Promotes McLennan</p><p>Graham Mc
Lennan, who joined <a href="https://www.financemagnates.com/tag/bvnk/" target="_blank" rel="follow">BVNK </a>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
&amp; Execution Manager, and in September 2023, he was promoted to the Head of
Liquidity Solutions. </p><p>In the
past, Mc Lennan worked for IG Group as the Equity Dealer and as the Accounts Clerk
at Jay Bee Castings CC.</p><p>"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.</p><p>BVNK,
located in London, offers banking and payment services related to cryptocurrency.</p><p>Zodia Custody Partners
with OpenEden</p><p><a href="https://www.financemagnates.com/tag/zodia-custody/" target="_blank" rel="follow">Zodia
Custody</a> 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.</p><p>“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. </p><p>“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.”</p><p>Loo Pleads Guilty to
Multiple Charges</p><p>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). </p><p>Loo was
found guilty of forging a letter from the <a href="https://www.financemagnates.com/tag/fma/" target="_blank" rel="follow">FMA </a>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.</p><p>Japanese Brokerages Woo
Wealthy Investors</p><p>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. </p><p>The
Tokyo-based firm is expanding its offerings, including private credit, and has
increased its team dedicated to developing alternative funds for wealthy
clients.</p><p>CFTC Grants Whistleblower
Awards Totaling $15 Million</p><p>The
Commodity Futures Trading Commission (<a href="https://www.financemagnates.com/tag/cftc/" target="_blank" rel="follow">CFTC</a>) 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.</p><p>“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.”</p><p>NFA Fines Houston-Based
Bosworth Brokers LLC</p><p>The
National Futures Association (<a href="https://www.financemagnates.com/tag/nfa/" target="_blank" rel="follow">NFA</a>) 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.</p><p>“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.</p><p>OKX Achieves SOC 2 Type II
Certification</p><p><a href="https://www.financemagnates.com/tag/okx/" target="_blank" rel="follow">OKX,</a> 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.</p><p>“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</p>

This article was written by Finance Magnates Staff at www.financemagnates.com.