Binance Hires Former DFSA Executive Mark McGinness

Binance has strengthened its compliance team with the latest appointment of Mark McGinness, a former Head of International Relations at the Dubai Financial Services Authority (DFSA), as the Chief Regulatory Liaison Officer.

He is one of the many former staff working with regulators that the crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has added following regulatory backlash on its services.

“I aim to Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term this divide through working closely with industry leaders and policymakers to not only set best practices and regulatory frameworks but also broaden their understanding of this dynamic industry,” McGinness said in a statement.

Worked with Multiple Regulators

McGinness has three decades of experience working mostly with different regulators. He spent the last 16 years of his career with DFSA. There, he held several roles including Chief Decision Maker, deciding on matters referred by its Enforcement division.

Additionally, he was the Head of International Relations and Advisor to the Chairman of the Australian Securities and Investments Commission (ASIC). There, he was responsible for the international engagement of the Aussie regulator.

Moreover, he spent years as an advisor to the International Monetary Fund and the World Bank, and he held multiple positions with the International Organization of Securities Commission (IOSCO).

Binance CEO, Changping Zhao said: “Mark is one of the most respected regulators and compliance experts in the industry. He brings over 30 years of invaluable experience with him working alongside key stakeholders in the financial services industry.”

“Mark joining our leadership is not only a huge step forward for Binance, but the industry as a whole, as we work to grow the industry responsibly with the support of regulators and policymakers across the globe.”

Binance earlier hired former US Treasury Criminal Investigator, Greg Monahan, and two former Special Agents of the Internal Revenue Service, Tigran Gambaryan and Matthew Price.