Buying or Selling IPv4 Addresses?

Watch this video to discover how ACCELR/8, a transformative trading platform developed by industry veterans Marc Lindsey and Janine Goodman, enables organizations to buy or sell IPv4 blocks as small as /20s.

Avenue4 LLCRead Message Promoted Post

Home / Blogs

Should Barclays Lose the .Barclays Top-Level Domain?

According to Reuters, Barclays has plead guilty to trying to manipulate foreign exchange rates, and has agreed to pay substantial fines, along with other major banks.

Barclays is also the operator of the .Barclays new top-level domain name. According to section 4.3(f) of the registry agreement with ICANN,

ICANN may, upon notice to Registry Operator, terminate this Agreement if (i) Registry Operator knowingly employs any officer who is convicted of a misdemeanor related to financial activities or of any felony, or is judged by a court of competent jurisdiction to have committed fraud or breach of fiduciary duty, or is the subject of a judicial determination that ICANN reasonably deems as the substantive equivalent of any of the foregoing and such officer is not terminated within thirty (30) calendar days of Registry Operator's knowledge of the foregoing, or (ii) any member of Registry Operator's board of directors or similar governing body is convicted of a misdemeanor related to financial activities or of any felony, or is judged by a court of competent jurisdiction to have committed fraud or breach of fiduciary duty, or is the subject of a judicial determination that ICANN reasonably deems as the substantive equivalent of any of the foregoing and such member is not removed from Registry Operator's board of directors or similar governing body within thirty (30) calendar days of Registry Operator's knowledge of the foregoing. (emphasis added)

This is not a case where it's a single rogue employee or officer has been found guilty of a financial crime. Here, it is the entire bank (and registry operator) that has plead guilty. In my opinion, ICANN should exercise its rights to terminate the .Barclays TLD from the root.

If not, ICANN should clearly explain why it has chosen to allow a registry that has plead guilty to serious financial crimes to continue to operate that TLD. It would, in my opinion, set a dangerous precedent to allow a firm found guilty of financial crimes to continue to operate a trusted registry at the top level. Indeed, it would reinforce the arguments of the many critics of the new gTLDs program that ICANN simply refuses to hold bad contracted parties accountable for their misbehaviour.

By George Kirikos, President, Leap of Faith Financial Services Inc.
Related topics: ICANN, Law, Policy & Regulation, New TLDs
SHARE THIS POST

If you are pressed for time ...

... this is for you. More and more professionals are choosing to publish critical posts on CircleID from all corners of the Internet industry. If you find it hard to keep up daily, consider subscribing to our weekly digest. We will provide you a convenient summary report once a week sent directly to your inbox. It's a quick and easy read.

I make a point of reading CircleID. There is no getting around the utility of knowing what thoughtful people are thinking and saying about our industry.

Vinton Cerf, Co-designer of the TCP/IP Protocols & the Architecture of the Internet

Share your comments

Fine of $2.4 billion George Kirikos  –  May 20, 2015 9:38 AM PST

Just to followup, as this story is still breaking, Reuters is reporting that the fine was $2.4 billion (with a 'b'), indicating the severity of the crime.

Barclays Plc (BARC.L) pleaded guilty to a U.S. criminal charge and was fined $2.4 billion (1.5 billion pounds) by U.S. and British authorities on Wednesday for manipulating foreign exchange rates.

The British bank also agreed to fire eight employees as a result of the settlement, according to the New York Department of Financial Services (NYDFS).

(emphasis added)

I think the chances of this happening Kevin Murphy  –  May 20, 2015 9:56 AM PST

I think the chances of this happening are about the same as the chances of the UK authorities actually jailing a banker.

It's all a joke John Berryhill  –  May 22, 2015 6:44 AM PST

It's all a joke, George. 

All this talk about cybercrime and consumer protection is just minding the petty cash drawer on behalf of the big time criminals.

It's perfectly fine to allow an admitted criminal organization to run a TLD, as long as they are on the list of approved criminals.

You can take kickbacks in the form of rigged acquisitions by WIPO, and be president of ICANN.  You can commit burglary to find the DNA of the people who found out about those kickbacks and be Director General of WIPO. 

Your company can launder money for drug cartels and be a member in good standing of the BC. 

There are no rules, George.  It's all one big pathetic joke.

The only difference between a criminal and a respected member of the community is on which side of the velvet rope one stands.  That's all.

.MAFIA in next round of new gTLDs George Kirikos  –  May 22, 2015 6:52 AM PST

I suppose if ICANN doesn't take away .Barclays, it smooths the way for the introduction of .Mafia in the next round of new gTLDs. :)

That's old school John Berryhill  –  May 22, 2015 8:05 AM PST

I'm thinking Architelos is signing up .isis by now.

Wiggle room Volker Greimann  –  Jun 08, 2015 1:13 AM PST

If I read it correctly, the RA reads that it must be an officer or board member that is convicted. There is no provision for the conviction of the organization itself.

So that may be the "out" used in this case as AFAIK no personal guilt has been attached in the legal proceedings, it is all organizational.

Correct me if I am wrong…

To post comments, please login or create an account.

Related

Topics

Mobile Internet

Sponsored byAfilias

IP Addressing

Sponsored byAvenue4 LLC

DNS Security

Sponsored byAfilias

Cybersecurity

Sponsored byVerisign

Promoted Post

Buying or Selling IPv4 Addresses?

Watch this video to discover how ACCELR/8, a transformative trading platform developed by industry veterans Marc Lindsey and Janine Goodman, enables organizations to buy or sell IPv4 blocks as small as /20s.