browse

 

West Realm Shires Services Inc. ("FTX US") is generally regulated on both the Federal and State level and the primary regulatory compliance obligations are within the United States. FTX US is required to comply with many financial services and consumer protection laws. On the Federal level, the primary concern is anti-money laundering controls, and proper implementation of FTX US's policies and procedures to deter such activity. FTX US is registered as a Money Services Business with FinCEN - MSB Registration Number: 31000195443783. As an MSB, FTX US is compliant with the requirements of the Bank Secrecy Act (BSA). On the State level, the primary issues arise around consumer protection and money transmission laws. FTX US is currently applying to obtain money transmitter licenses from multiple States within the United States. FTX US maintains a policy of attempting to broadly disclose to consumers all applicable risks of the service.
 
FTX US has successfully received a US GAAP financial audit.
 
FTX US monitors both Federal and State level developments with its outside legal counsel, Fenwick & West LLP. FTX US has worked closely with Fenwick & West LLP on the development of its BSA program, as well as documentation and compliance assessments.
 

FTX US Derivatives (formerly LedgerX) is a U.S. federally regulated commodity derivatives exchange and clearinghouse. FTX US Derivatives holds three licenses with the U.S. Commodity Futures Trading Commission (CFTC):

Derivatives Clearing Organization (DCO)
Designated Contract Market (DCM)
Swap Execution Facility (SEF)

These licenses enable us to operate our exchange and clearinghouse in all 50 states in the US (including its territories), with access to certain international jurisdictions.

FTX US Derivatives follows an extensive audit program, which includes but is not limited to the following audits:

- Anti Money Laundering (AML): Annually, we conduct a full analysis and review of our OFAC (Office of Foreign Assets Control) procedures and AML processes, strategy, policy, controls and related technologies.
- Financial Condition: Annually, Grant Thorton LLP audits the financial condition of FTX US Derivatives, and in all past years, has expressed an unqualified opinion (i.e., clean bill of health) that our financial statements were presented fairly, in all material respects, in accordance with US GAAP accounting principles.
- Digital Asset Custody: Because we custody digital assets on behalf of our clients, Grant Thorton LLP conducts an annual review of how we hold digital assets from a security and key controls perspective.
- Penetration Testing: We contract with independent outside vendors to perform at-least-annual penetration tests that evaluate the effectiveness of our existing security controls.
- Vulnerability Scans: We run regular systems vulnerability scans on at least a quarterly basis, and more frequently where possible.
- Key Controls: We conduct key controls tests at regular intervals to assess the effectiveness of the oversight mechanisms related to our key internal processes. In the past, these controls tests having included a SOC I Type II Audit (conducted by Friedman LLP) and a SANS CSC Top 20 audit.
- Federal Regulatory Examinations: Each year, the CFTC examines one aspect of our operations with a special emphasis, such as system safeguards, market surveillance or financial controls.

 

License Information

FTX US is licensed in the following US Jurisdictions:

State License Agency
Alabama Money Transmitter License, 864

Alabama Securities Commission
RSA Dexter Avenue Building
445 Dexter Avenue
Suite 12000
Montgomery, AL 36104

 

Alaska

Money Transmitter License, AKMT-015575

Alaska Department of Commerce, Community & Economic Development
P.O. Box 110807
Juneau, AK 99811-0807

 

Arizona

Money Transmitter License, 1031184

Arizona Department of Financial Institutions
100 N. 15th Avenue, Suite 261
Phoenix, AZ 85007

 

Arkansas

Money Transmitter License, 125979

Arkansas Securities Department
#1 Commerce Way, Suite 402
Little Rock, Arkansas 72202

 

District of Columbia

Money Transmitter License, MTR1957771

District of Columbia Department of Insurance, Securities and Banking
1050 First Street, NE, 801,
Washington, DC 20002

 

Florida

Money Services Business Part II, FT230000359

Florida Office of Financial Regulation
101 E. Gaines Street
Tallahassee, FL 32399

 

Georgia Seller of Payment Instruments License, 1957771

Georgia Department of Banking and Finance
Money Services Businesses
2990 Brandywine Road, Suite 200
Atlanta, GA 30341-5565

Illinois Money Transmitter License, MT.0000426

Illinois Department of Financial and Professional Regulation
320 West Washington Street, 3rd Floor
Springfield, Illinois 62786

 

Iowa Money Services License, 2021-0192

State of Iowa Division of Banking
200 E. Grand Avenue, Suite 300
Des Moines, IA 50309

Maine Money Transmitter License

Department of Professional & Financial Regulation
Bureau of Consumer Credit Protection
76 Northern Avenue
Gardiner, Maine 04345

 

Maryland Money Transmitter License

Office of the Commissioner of Financial Regulation
500 N. Calvert Street, Suite 402
Baltimore, Maryland 21202

 

Michigan Money Transmitter License, MT0023864

Michigan Department of Insurance and Financial Institutions
PO Box 30220
Lansing MI 48909-7720

Mississippi Money Transmitter License, 1957771

Mississippi Department of Banking and Consumer Finance
Post Office Box 12129
Jackson, MS 39236

Missouri Sale of Checks and Money Transmitter License, MO-22-9038

Missouri Division of Finance
Truman State Office Building
Room 630
Jefferson City, MO 65102

 

New Hampshire Money Transmitter License, 24489-MT

New Hampshire Banking Department
53 Regional Drive, Suite 200
Concord NH 03301

 

New Mexico Money Transmission License

New Mexico Financial Institution Division
Money Services Business Unit
P.O. Box 25101
Santa Fe, NM 87504

 

Oregon Money Transmitter License

Oregon Department of Consumer and Business Services
350 Winter Street NE
P.O. Box 14480
Salem, OR 97309-0405

 

Pennsylvania Money Transmitter License, 93683

Pennsylvania Department of Banking and Securities
Market Square Plaza
17 N. Second Street, Suite 1300
Harrisburg, PA 17101

 

Puerto Rico

Money Transmitter License, 93683

Pennsylvania Department of Banking and Securities
Market Square Plaza
17 N. Second Street, Suite 1300
Harrisburg, PA 17101

 

South Dakota Money Transmitter License, 1957771.MT

South Dakota Department of Labor and Regulation
123 W. Missouri Ave.
Pierre, SD 57501-0405

 

Washington Money Transmitter License, 550-MT-123611

State of Washington – Dept. of Financial Institutions           
Division of Consumer Services                                                  
P.O. Box 41200                                                                            
Olympia, Washington 98504-1200 

West Virginia

Money Transmitter License, WVMT-1957771

West Virginia Division of Financial Institutions
900 Pennsylvania Avenue
Suite 306
Charleston, WV 25302

 

 

Disclosures 

Alaska

Please note that this license does not cover the transmission of virtual currency.

For Alaska Residents Only:

If your issue is unresolved by West Realm Shires Services Inc. DBA FTX US, please submit formal complaints with the State of Alaska, Division of Banking & Securities.

Formal complaints must be in writing, please download the form here: 

https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf

Formal complaint forms may be submitted via:

  1. Fax:  907-465-1230
  2. Email:  msb_licensing@alaska.gov
  3. Mail:  Division of Banking & Securities PO Box 110807 Juneau, AK  99811-0807

If you have questions regarding formal complaints, please call 907-465-2521

Arizona

If you have a complaint, please contact West Realm Shires Services Inc. DBA FTX US at support@ftx.us. If you still have an unresolved complaint regarding West Realm Shires Services Inc. DBA FTX US money transmission activity, you may mail, email, or fax written complaints to the:

Arizona Department of Financial Institutions, Consumer Affairs Division

100 N. 15th Street, Suite 261 Phoenix, AZ  85007

E-mail: financial.consumers@difi.az.gov

Facsimile: 602-381-1225

AZ e-Licensing Portal for filing a complaint

AZDFI Consumer Complaint Portal: https://elicense.az.gov/ARDC_FileComplaint

Arkansas

If you have a complaint, please contact West Realm Shires Services Inc. DBA FTX US at support@ftx.us. If you still have an unresolved complaint regarding [Name of Licensee] money transmission activity, you may file the completed complaint form by e-mailing to ASDInfo@securities.arkansas.gov or by mailing at:

1 COMMERCE WAY, SUITE 402 

LITTLE ROCK, ARKANSAS 72202 

TELEPHONE: (501) 324-9260 

FACSIMILE: (501) 324-9268

http://www.securities.arkansas.gov/!userfiles/ComplaintForm-english%20May%202020(3).pdf

Important Notice from AR Securities Department about Consumer Complaint

http://www.securities.arkansas.gov/!userfiles/Complaint%20Important%20Notice%20May%202020(2).pdf

[… Initial complaints should be made in writing directly to the entity or individual with whom you have experienced the problem. It is a good idea to indicate on your complaint letter that you are sending a copy to the Arkansas Securities Department. If your problem is not resolved timely by the entity or individual, you are encouraged to complete a Complaint Form and send it to the Department….]

District of Columbia

If you have a complaint, please contact West Realm Shires Services Inc. DBA FTX US at support@ftx.us. If you still have an unresolved complaint regarding  West Realm Shires Services Inc. DBA FTX US money transmission activity, you may file it by contacting the Department at:

District of Columbia Department of Insurance, Securities and Banking

1050 First St., NE, Suite 801

Washington, DC  20002

Phone: (202) 727-8000

Fax: (202) 354-1085

E-mail: disbcomplaints@dc.gov

Consumer Complaint Form Mail-in Version

Florida 

Florida Office of Financial Regulation

If you have a complaint, please contact West Realm Shires Services Inc. DBA FTX US at support@ftx.us. If you still have an unresolved complaint regarding West Realm Shires Services Inc. DBA FTX US money transmission activity, you may file it by contacting the Florida Office of Financial Regulation at:

Online: https://www.flofr.com/sitepages/FileAComplaint.htm. In order to file your complaint, you will need to register electronically through Online Services. A valid email address is required.

NOTE: Consumers are encouraged to file their complaints online. If you are unable to file online, please download and mail a completed paper form. Under Florida law, e-mail addresses are public records. If you do not want your e-mail address released in response to a public records request, do not send electronic mail to the Office. Instead, contact this office by phone or in writing. Communications with this office, regardless of the form or means of transmission, are subject to disclosure under Florida's public records law.

Download Consumer Complaint Form

Florida Office of Financial Regulation - Consumer Finance

200 E. Gaines Street, Tallahassee, FL 32399-0376

850-487-9687

Georgia

Licensed by The Georgia Department of Banking and Finance. (Lic. # 1957771/ NMLS# 1957771).

The Georgia Department of Banking and Finance - Consumer Resources: File a Complaint. We do not intervene in disputes between consumers and financial service providers, but we do use complaint information in the regulatory process.  To file a complaint with the regulators, you may securely do so with the Consumer Financial Protection Bureau, an agency of the federal government, at http://www.consumerfinance.gov/complaint/ (links off-site) or by telephone at (855) 411-2372.

Illinois

Illinois Division of Banking

If you have a complaint, please contact West Realm Shires Services Inc. DBA FTX US at support@ftx.us. If you still have an unresolved complaint regarding West Realm Shires Services Inc. money transmission activity, you may file it by contacting the Illinois Division of Banking at:

Illinois Department of Financial and Professional Regulation

320 West Washington Street, 3rd Floor

Springfield, IL 62786

Complaint Intake Unit: 1-312-814-6910

Toll-Free Number: 1-888-473-4858

Maryland 

Maryland Commissioner of Financial Regulation

The Commissioner of Financial Regulation for the State of Maryland will accept all questions or complaints from Maryland residents regarding West Realm Shires Services Inc. DBA FTX US, NMLD ID x 1957771 at:

Commissioner of Financial Regulation

500 North Calvert Street, Suite 402 

Baltimore, Maryland 21202 

Attention: Consumer Services Unit

Toll Free at (888) 784-0136

Download Consumer Complaint Form

Mississippi

The Mississippi Department of Banking & Consumer Finance recommends that you attempt to resolve your complaint with the financial institution first by contacting West Realm Shires Services Inc. DBA FTX US at support@ftx.us to allow the opportunity to resolve the issue(s). If you still have an unresolved complaint regarding West Realm Shires Services Inc. DBA FTX US money transmission activity, you may file you complain online at https://dbcf.ms.gov/complaint-form.

Washington

Washington Division of Consumer Services

If you have a complaint, please contact West Realm Shires Services Inc. DBA FTX US at support@ftx.us. If you still have an unresolved complaint regarding West Realm Shires Services Inc. DBA FTX US money transmission activity, you may file it by contacting the Washington Division of Consumer Services at:

Department of Financial Institutions

Division of Consumer Services

P.O. Box 41200

Olympia, Washington 98504-1200 

Online: https://dfi.wa.gov/file-complaint

Mail or fax: https://dfi.wa.gov/sites/default/files/money-services-complaint.pdf

Call: (360) 902-8703 or 1-877-RING DFI (1-877-746-4334)

TDD (360) 664-8126

FAX (360) 596-3868

Email: CSEnforceComplaints@dfi.wa.gov

Comments

0 comments

Article is closed for comments.

Was this article helpful?

6 out of 8 found this helpful
Powered by Zendesk