The firm鈥檚 multi-chain asset tokenisation solution, My OnChain Net Yield Fund, is a 506(c) private placement fund providing investors the opportunity to earn US dollar yields
The court of appeals rejected the short seller鈥檚 case due to insufficient allegations of securities fraud and market manipulation under the relevant securities laws
The combined amount includes US$1 million in restitution to retail customers enrolled in fully paid securities lending programmes and fines of US$1.6 million for the firms鈥 related supervisory and advertising violations
The news follows regulatory approval regarding critical components of securities borrowing and lending 鈥 short selling can only function if a securities borrowing and lending programme is in place
The UK regulator ruled that the transactions were carried out in a way 鈥渢hat was highly suggestive of financial crime鈥 and that the broker had failed to manage risk that it was being used to facilitate fraudulent trading and moneylaundering