Binance’s VP Joins brand new Zealand’s FMA as Executive Director

FMA Names New Executive Director of Analytics and Strategy

Daniel Trinder has joined the enterprise management group as the Financial Markets Authority’s (FMA) new Executive Director of Strategy and Design. The FMA is New Zealand’s regulatory body. Trinder provides more than 20 years of specialised experience that he has accumulated at major investment financial institutions such as Goldman Sachs, Deutsche Bank, and Standard Chartered, as well as at HM Treasury and the Global Financial Fund, among other places.

Trinder was in charge of policy and regulating relations in the workplace, as well as government relations. He has been connected to Binance, one of the largest cryptocurrency exchanges globally, since May 2022, where he held the position of Vice President of Government Affairs and Policy. He will now build on the regulator’s strategic goals, which include research and insights, external relations, economic-based analytics, and communication, by utilising his years of expertise at the FMA.

“Daniel is a fantastic addition to the FMA, offering the enterprise management team access to top-notch talent and expertise. Samantha Barrass, the Chief Executive of FMA, stated that Daniel “has extensive global experience with financial services, international regulators, and stakeholder management – across both commercial and government sectors.” Barrass went on to say that Trinder is excited to visit Aotearoa, New Zealand, and add to its thriving economy, which uplifts society overall.

The regulator will be able to more effectively tackle investment crime, which has been observably rising in recent years, thanks to Trinder’s years of experience. The FMA said in January that during the current fiscal year, which ends in June 2022, it found more investment scams. The regulator identified 111 incidents from the time across all categories, a 17% rise from 95 occurrences in 2021.

“Since the start of COVID-19, we’ve seen an increase in investment fraud complaints, particularly related to social media contact scams, romance-investment hybrid scams, and imposter websites,” the FMA wrote in its report.

The FMA reports that 48 unregistered companies, 105 suspected misleading schemes, and one instance of the FMA posing as a fictitious regulator make up the breakdown of fraud cases. Comparatively, there were 24 unregistered businesses, 89 suspected fraudulent schemes, and 2 instances of the FMA posing as a regulator in 2021.

In late October of 2022, one of the impersonation warnings was issued. The fraudster was contacting clients cold-calling in an attempt to get personal information and maybe commit fraud. Someone attempted to obtain the personal data of people in the public they were targeting, according to a statement released by the FMA.

Furthermore, the New Zealand authority warned of two cryptocurrency scams in December of last year: Bay Exchange and CryptoMarkets Limited.

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