Several US regulators seek information from Kazakh fintech Freedom


FILE PHOTO: The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. REUTERS/Jim Bourg/File Photo

(Reuters) -Several U.S. regulators have requested Kazakhstan-based Freedom Holding for information, a company spokesperson told Reuters on Friday, adding that none of the authorities have filed any charges against the fintech firm.

Earlier in the day, CNBC first reported that Freedom was being investigated by the U.S. Department of Justice and Securities and Exchange Commission counsel over compliance issues, insider stock moves, and an offshore affiliate tied to sanctioned individuals.

"We are confident that we are in a strong position to explain... to regulators on what and how we have acted at what points in time and why our actions were legal," Freedom Holding head Timur Turlov told Reuters.

The SEC declined to comment on the existence or nonexistence of a possible investigation, whereas the Department of Justice did not immediately respond to Reuters requests for comment.

In August, Freedom was under attack from Hindenburg that said its research into the company had revealed "hallmark signs of fake revenue" and market manipulation in both its investments and stock, as well as evidence it "brazenly skirts sanctions".

The allegations in the Hindenburg report are without merit, Freedom had said then.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru and Mariya Gordeyeva in Almaty; Editing by Shinjini Ganguli)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Sirius XM found liable in New York lawsuit over subscription cancellations
US Supreme Court tosses case involving securities fraud suit against Facebook
Amazon doubles down on AI startup Anthropic with $4 billion investment
Factbox-Who are bankrupt Northvolt's creditors?
UK should use new powers to probe Apple-Google mobile browser duopoly, report says
EU regulators scrap probe into Apple's e-book rules after complaint was withdrawn
Hyundai recalls over 145,000 electrified US vehicles on loss of drive power
'World of Warcraft' still going strong as it celebrates 20 years
Northvolt CEO steps down, saying group needs up to $1.2 billion
Bitcoin at record highs, sets sights on $100,000

Others Also Read