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: 31000162768253. 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 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.