paint-brush
Binance and BAM Trading Charged for Neglecting to Register as Clearing Agency on Binance.USby@secagainsttheworld

Binance and BAM Trading Charged for Neglecting to Register as Clearing Agency on Binance.US

by SEC vs. the WorldSeptember 29th, 2023
Read on Terminal Reader
Read this story w/o Javascript
tldt arrow

Too Long; Didn't Read

Binance and BAM Trading are facing SEC allegations for acting as unregistered clearing agencies on the Binance.US platform, which violates Exchange Act Section 17A(b). This legal action seeks to address these alleged infractions and their consequences.

People Mentioned

Mention Thumbnail
featured image - Binance and BAM Trading Charged for Neglecting to Register as Clearing Agency on Binance.US
SEC vs. the World HackerNoon profile picture

SEC v. Binance Court Filing, retrieved on June 5, 2023 is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This is part 64 of 69.

FACTS

IX. BINANCE AND BAM TRADING WERE REQUIRED TO BUT DID NOT REGISTER AS AN EXCHANGE, BROKER-DEALER, OR CLEARING AGENCY.


TENTH CLAIM FOR RELIEF

Violations of Exchange Act Section 17A(b)

(Against Binance and BAM Trading Failing to Register as a Clearing Agency for the Binance.US Platform)


541. The Commission realleges and incorporates by reference herein the allegations in Paragraphs 1-35 and 110-513.


542. At all relevant times, by engaging in the acts and conduct described in this Complaint, specifically by operating the Binance.US Platform, Binance and BAM Trading, each, directly or indirectly, made use of the mails and the means and instrumentalities of interstate commerce to perform the functions of a clearing agency with respect to securities, without registering in accordance with Section 17A(b) of the Exchange Act and without being exempted from registration. 543. By reason of the conduct described above, Binance and BAM Trading, directly or indirectly, violated, are violating, and, unless enjoined, will continue to violate Exchange Act Section 17A(b) [15 U.S.C. § 78q-1(b)].



Continue Reading Here.


About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings.


This court case 1:23-cv-01599 retrieved on September 6, 2023, from docdroid.net is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction.