Fazzaco Weekly Digest: Fazzaco Conducted Another Successful and Engaging Live Webinar; Former Interactive Brokers AML Compliance Officer Fined $25,000 by FINRA; Vantage Becomes Official Partner of McLaren

Take a look at the latest happenings in this week's news digest from around the forex and fintech industry. Here are some of the top headlines from this past week.

1. Fazzaco Conducted Another Successful and Engaging Live Webinar with Finthentic​

On Feb 18, 2022, the second Fazzaco webinar happened after the successful debut. Alexander Geralis, the managing partner at Finthentic, spoke on the Success Blueprint as a Startup Broker, and elaborated on what a startup broker should be aware of.

Fazzaco Webinars aims to build a bridge for all parties to engage in real-time communications, and provide the best financial B2B platform. 

2. Fazzaco Live Webinar on 22nd Feb.: Viktoria Soltesz Discusses How to Maximise the Crypto Wave​

Fazzaco is pleased to announce that Viktoria Soltesz, CEO and Founder at PSP Angels, is going to talk about 'How Brokers can Maximise the Crypto Wave' via a live webinar from 10:00 to 10:45 AM (GMT+2) on 22nd Feb., 2022.

During this live webinar, you will explore the issues and opportunities of using crypto assets for payment purposes, and gain important know-how that will help you catch the crypto wave. 

Fazzaco Live Webinar on 22nd Feb.: Viktoria Soltesz Discusses How to Maximise the Crypto Wave​

3. Michel Chabbouh Moves from FXCM to Zenfinex as CEO MENA​

FCA licensed FX and CFDs broker Zenfinex has hired Michel Chabbouh as the company's CEO MENA. In his new position, Chabbouh will head the company's UAE based operations.

Zenfinex is a globally recognized brokerage headquartered in Mayfair, London. Nick Cooke founded the company in 2017 which is regulated by the FCA. The client base has grown rapidly, now spanning Europe, Asia, Australasia, South America and Africa.

4. Former Interactive Brokers AML Compliance Officer Fined $25,000 by FINRA

A former compliance officer for Interactive Brokers LLC agreed to pay a $25,000 fine to settle allegations he failed to properly oversee the broker-dealer's anti-money-laundering program.

It isn't uncommon for Finra to take disciplinary action against a compliance officer. But decisions by regulators to hold members of the compliance profession personally liable for the regulatory failings of their employers have at times proven controversial. Lawyers and professional groups in recent years have urged regulators to take such a step with caution, over concerns it could negatively affect how compliance officers act when there are issues on the job, or could discourage individuals from becoming compliance officers in the first place.

5. Vantage Becomes Official Partner of McLaren​

Vantage, the international multi-asset broker, announces its multi-year partnership with McLaren Racing as an Official Partner of the McLaren Extreme E (MX) team. This announcement comes ahead of the launch of the 2022 season, with the first race, the Desert X Prix in Saudi Arabia, scheduled for February 19th and 20th.

Extreme E is a new concept in motorsport, that challenges teams to race off-road across remote areas of the globe, in cutting-edge electric SUV's, to raise climate awareness.

6. SEC Probes Cryptocurrency Exchange Binance US to Protect Investors​

The U.S. Securities and Exchange Commission (SEC) is reportedly probing the U.S. arm of the cryptocurrency exchange Binance (Binance US).

On Wednesday, Fox Business interviewed SEC Chairman Gary Gensler about the Binance US news and the SEC's efforts to regulate the crypto space. While the SEC chief did not specifically comment on the Binance US probe, he cited "basic investor protection" as the key driver for all SEC actions.

7. ASIC Charges Seven Companies for Failing to Lodge Financial Reports

Between 1 July 2021 and 31 December 2021, ASIC prosecuted seven companies for failing to comply with their obligations to lodge financial reports and hold annual general meetings (AGMs) in the required timeframes.

Certain types of Australian companies are required by law to lodge financial reports with ASIC within a specified period after the end of their financial year. Some companies also have a legal requirement to lodge financial reports every half year. Public companies must hold AGMs at least once per calendar year within a specified period after the end of its financial year.