Binance Monitorship Granted to FRA Instead of Sullivan & Cromwell – Bloomberg

The Justice Department has picked consulting firm Forensic Risk Alliance to act as outside monitor for Binance Holdings Ltd., which pleaded guilty to violating US money-laundering regulations and trade sanctions.

FRA was chosen over elite Wall Street law firm Sullivan & Cromwell, the initial favorite for the role, and several other top contenders, according to people who asked not to be named because the matter is confidential.

The Justice Department declined to comment. Spokespeople for Sullivan & Cromwell and FRA didn’t immediately respond to requests for comment.

Source: Binance Monitorship Granted to FRA Instead of Sullivan & Cromwell – Bloomberg