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4 years ago

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A Conservative donor has suggested the party convenes a “special investigation'” into conflicts of interest surrounding the Tory co-chairman Ben Elliot.

Mohammed Amersi, a telecoms entrepreneur and philanthropist, has also argued the party should improve its governance structures and remove Mr Elliot if he does not comply.

“[Ben Elliot] has done a great job in terms of raising money,” Mr Amersi said.

“If there are any lapses in governance… they can be easily structured and addressed. Then the party and the board has to see whether he is somebody who’s willing and able to work within those structures.

“If the answer to that is yes, give him a chance. If the answer to that is no, then perhaps invite him to reconsider his position.”

Mr Amersi and his partner have donated £750,000 to the party over the last four years, and has since met Prime Minister Boris Johnson and senior cabinet figures.

But he has raised concerns about the blurred lines between Mr Elliot’s personal, political and business interests.

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As well as his role as the party’s chief fundraiser, Mr Elliot runs Quintessentially, a “concierge” service for the super rich.

He is the nephew of the Prince of Wales and the Duchess of Cornwall.

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Mr Elliot also co-founded the PR and lobbying company Hawthorn Advisers, but says he is not involved in their day-to-day work.

He has been accused of soliciting charity donations in return for access to Prince Charles. There is no suggestion the future king was aware of this.

When approached at the Conservative Party conference in Manchester, Mr Elliot refused to answer questions from Sky News.

A Conservative Party spokesperson said: “Ben Elliot’s business and charitable work are entirely separate to the voluntary work he does for the party.

“Donations to the Conservative Party are properly and transparently declared to the Electoral Commission, published by them, and comply fully with the law.”

Clarence House has been approached for comment.

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SEC ends Biden-era probe into tokenized equity platform Ondo Finance

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1 hour ago

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December 8, 2025

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SEC ends Biden-era probe into tokenized equity platform Ondo Finance

The US Securities and Exchange Commission has officially dropped its investigation into the New York-based tokenization platform Ondo Finance, which it initiated in 2023.

Ondo Finance has received formal notice that a confidential, multi-year SEC investigation into the platform has been closed without any charges, the company announced on Monday.

“The probe examined whether Ondo’s tokenization of certain real-world assets complied with federal securities laws as well as whether the ONDO token was a security,” the statement said.

The SEC’s decision to end the investigation reflects a broader shift in the US policy regarding real-world asset (RWA) tokenization, bringing it on the authority’s formal agenda, Ondo noted.

A new chapter of tokenization in the US

According to a report by Crypto in America, the SEC initially opened the probe in October 2023 under former SEC Chair Gary Gensler, who was known for his stringent stance toward the crypto industry.

However, since Paul Atkins took over as SEC chair, the agency has closed a number of crypto-related cases involving major companies, including Coinbase, Ripple and Kraken.

“When the inquiry began in 2024, the US regulatory environment for digital assets was defined by caution, confusion, and occasionally overbroad enforcement actions,” Ondo Finance said in its blog post.

Source: Ondo Finance

Against that backdrop, Ondo was “one of the only firms focused on tokenizing publicly listed equities at scale,” it said, adding: “Being early, and being successful, came with scrutiny.”

According to Ondo, the resolution of the SEC inquiry marks the end of one chapter for Ondo and the beginning of another, where tokenized securities become a “core part of the US capital markets.”

“The future of global finance, including U.S. capital markets, will be onchain and Ondo will help lead that transition,” Ondo said.

Most US tokenization platforms serve overseas markets

The news comes as most tokenization platforms offer tokenized equity products primarily to customers outside the US, including firms such as Kraken-owned Backed, the issuer of xStocks.

While these platforms tokenize major US-listed stocks and exchange-traded funds (ETFs), many of the offerings are aimed at clients located overseas, particularly in Europe.