tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, July 13th, 10:20AM

People

rss
People

Crypto exchange executive joins the FMA

The Financial Markets Authority has hired London-based Daniel Trinder as its new role of executive director of strategy and design.

Monday, March 13th 2023, 3:23PM

Trinder, who starts in June, has spent the last 11 months as VP of government affairs and policy Europe, Middle East and North Africa for Binance; the world’s biggest crypto exchange. Apart from Binance he has held senior global roles at Deutsche Bank and Goldman Sachs.

Last year Trinder was one of a number of senior crypto industry figures grilled by the UK treasury committee over Binance’s role in the failure of FTX in November.

Binance had signed a letter of intent for financial due diligence before a possible takeover of the ailing rival exchange but then withdrew the offer. Two days later FTX filed for bankruptcy.

Trinder told UK MPs that Binance founder and chief executive Changpeng Zhao wasn’t responsible for the collapse of FTX and that while Zhao was approached to rescue FTX, she decided to pull out after due diligence showed “something very wrong”.

He also said the incident, which sent shockwaves through the crypto market and wiped billions of its value, had “set the industry back a couple of years.” He added that cryptocurrency firms must make information about their market simpler for investors, and a collective effort is needed to educate regulators to act as effective watchdogs of the sector.

Binance has had a contentious relationship with regulators. Since 2020 crypto exchanges in the UK have had to register with the Financial Conduct Authority and comply with its anti-money laundering rules to serve UK clients. In 2021 Binance had its licence to operate in the UK withdrawn with the FCA saying the exchange could not be regulated and posed a risk to UK consumers.Binance continued to service UK-based clients through binance.com.

Binance is not the only crypto exchange which has failed to gain FCA registration. This year the FCA revealed it has received 300 applications from prospective crypto firms since 2020 but only 41 have been approved. Crypto firms blame a lack of knowledge around digital currency for the delays. In the meantime the FCA has announced a proposed framework for crypto regulations.

In his new role on the other side of the regulatory fence, Trinder will be Wellington-based, leading the design and execution of the market watchdog’s strategic focus. He will be responsible for functional teams comprising, economic-based analytics, research and insights, strategy and planning, policy, and external relations and communications.

The appointment almost completes the FMA’s leadership restructure and creation of six new leader roles, which was announced by FMA CEO Samantha Barrass last year. Three of the roles were filled internally straight away, while ex-IRD deputy commissioner for customer and compliance services Sharon Thompason was appointed director of transformation and operational delivery in January. An executive director for te ao Māori is still to be announced.

Barrass says in setting the design for the FMA’s strategic direction, Trinder’s experience will enhance its use of economic insights, data and intelligence, policy expertise, and how it communicates its purpose to stakeholders.

Trinder has more than 25 year’s experience in strategy, policy and regulatory affairs including at the HM Treasury in the UK, the IMF, international investment banking firms, as an advisor to central banks and international organisations.

He has an MA in economics from York University, Toronto, and a PhD in economics from Queen Mary University of London, where he is also an honorary professor. He has extensive experience in developing and delivering strategic direction, capability and planning, implementing policy and legislative changes, while leading successful and diverse teams at a global level.

Tags: FMA

« Kiwi Wealth personnel don't feature in Fisher Funds new investment management teamYour regulator of financial advice »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Slideshow

MORE JOBS»

Tuesday, July 23rd 2024
Brightstar 20th Annual Financial Markets Law conference
Auckland

Tuesday, July 23rd 2024
Quotemonster Roadshow 2024 - Taupo
Waikato

Tuesday, July 23rd 2024
Financial Advice New Zealand Connect Tour - Dunedin
Otago

Wednesday, July 24th 2024
Quotemonster 2024 - Tauranga
BOP

Wednesday, July 24th 2024
Financial Advice New Zealand Connect Tour - Christchurch
Canterbury

Thursday, July 25th 2024
Quotemonster 2024 - Hamilton
Waikato

Thursday, July 25th 2024
Financial Advice New Zealand Connect Tour - Palmerston North
Wairarapa

Tuesday, July 30th 2024
Quotemonster 2024 - Auckland West
Auckland

Wednesday, July 31st 2024
Quotemonster 2024 - Christchurch
Canterbury

Thursday, August 1st 2024
Quotemonster 2024 - Invercargill
Southland

MORE»

News Bites
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com