Broker Deal Collateral Requirements: Gamestop, Citadel, Robinhood, Melvin Capital
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Broker Deal Collateral Requirements: Gamestop, Citadel, Robinhood, Melvin Capital

The strangest thing about the Gamestop issue was the conspiracy theories around payment for order flow, Citadel and Melvin Capital boss Gabe Plotkin. Some assumed that Robinhood had conspired against their users because their biggest customer, Citadel, was bailing out Melvin Capital.  In fact, the issue was one of collateral. On 27th January 2020, Robinhood…

Fincen Unhosted Wallets
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Fincen Unhosted Wallets

Fincen, a department of the US treasury responsible for collecting transactional information, put out a notice of proposed rule making in December: “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital”:  DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network 31 CFR Parts 1010, 1020, and 1022 RIN 1506-AB47 Requirements for. This rule would require…

January 2021 – Payments, Janet Yellen, Appointment of Michael Barr as Chief Comptroller of OCC
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January 2021 – Payments, Janet Yellen, Appointment of Michael Barr as Chief Comptroller of OCC

Please see the latest commentary below: PayPod – “Financial crime and the regulatory landscape are two critical things for any payments business or fintech to be aware of. As we begin this new year, this landscape is going to continue to evolve. That evolution is the focus of this podcast episode. Our guest on the…