What a huge loss? A loss for whom—European regulators or the people of Europe? What exactly did Europeans lose? Another October 11?
According to public reports, the company failed to demonstrate that its AML, sanctions compliance, and market integrity programs are effective, and did not obtain a license. Yet instead of reflecting on those issues, it claims that Europe is the loser.
That says a great deal about the company’s attitude toward the rule of law and financial regulation.