The Bahamas Securities Commission said it must act "given the importance, urgency and international implications of the unfolding events regarding FTX."
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The Bahamian Supreme Court has accepted two provisional liquidators to oversee ownership of cryptocurrency exchange FTX Digital Markets, which is centered in the United States.
According to a Nov. 14 statement by the Bahamas Securities Commission, the United States court perfects the appointments of PricewaterhouseCoopers consulting partner Kevin Cambridge and his accomplice Peter Greaves to feature provisional liquidators” for FTX. The securities regulator also decided to have Brian Simms, a senior partner at Bahamas-based commercial law firm Lennox Patton, as interim liquidator on Nov. 10.
"Given the scale, urgency and global implications of the events unfolding with respect to FTX, the Commission recognized that it needed it and acted quickly to enforce its regulatory powers. [...] to further protect the interests of clients, creditors and other stakeholders globally of FTX Digital Markets Ltd,” the Securities Commission said.
The regulator delivered:
"Over the coming days and weeks, the Commission expects to interact with other supervisory authorities on a regulator-to-regulator basis, as this event is multi-jurisdictional in nature."
FTX announced on November 11 that it is operating under Chapter Eleven in the U.S. District of Delaware. The court cases covered more than 130 FTX Group companies, including FTX Trading, FTX US – under West Realm Shires Services – Alameda Research and its wholly Bahamas-based subsidiary FTX Digital Markets. Sam Bankman-Fried also resigned from his post and from bankruptcy.
Related:
The appointment of a provisional liquidator follows the postponement of the popularity of FTX's registration by the Bahamian securities regulator and November 10. The Royal Bahamas Police Force has also become a viable scammer as part of a misconduct investigation.
The Bahamas Securities Commission said it must act "given the importance, urgency and international implications of the unfolding events regarding FTX."
< /div>
News
The Bahamian Supreme Court has accepted two provisional liquidators to oversee ownership of cryptocurrency exchange FTX Digital Markets, which is centered in the United States.
According to a Nov. 14 statement by the Bahamas Securities Commission, the United States court perfects the appointments of PricewaterhouseCoopers consulting partner Kevin Cambridge and his accomplice Peter Greaves to feature provisional liquidators” for FTX. The securities regulator also decided to have Brian Simms, a senior partner at Bahamas-based commercial law firm Lennox Patton, as interim liquidator on Nov. 10.
"Given the scale, urgency and global implications of the events unfolding with respect to FTX, the Commission recognized that it needed it and acted quickly to enforce its regulatory powers. [...] to further protect the interests of clients, creditors and other stakeholders globally of FTX Digital Markets Ltd,” the Securities Commission said.
The regulator delivered:
"Over the coming days and weeks, the Commission expects to interact with other supervisory authorities on a regulator-to-regulator basis, as this event is multi-jurisdictional in nature."
FTX announced on November 11 that it is operating under Chapter Eleven in the U.S. District of Delaware. The court cases covered more than 130 FTX Group companies, including FTX Trading, FTX US – under West Realm Shires Services – Alameda Research and its wholly Bahamas-based subsidiary FTX Digital Markets. Sam Bankman-Fried also resigned from his post and from bankruptcy.
Related:
The appointment of a provisional liquidator follows the postponement of the popularity of FTX's registration by the Bahamian securities regulator and November 10. The Royal Bahamas Police Force has also become a viable scammer as part of a misconduct investigation.
< /div>
News
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