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International
Big Picture
US Federal Reserve Governor Cautions Against Hasty AI Regulation
By Mark Johnston | 26/11/2024
Fed Governor Michelle Bowman cautions policymakers against hastily imposing strict AI regulations, as it could hinder banking innovation.
AML / KYC
Eurojust Establishes Judicial Focus Group to Combat Money Laundering
By Mark Johnston | 26/11/2024
Eurojust has launched a Judicial Focus Group to strengthen efforts against money laundering and improve asset recovery across the European Union.
Sanctions
UK Sanctions “Infamous Kleptocrats” to Start Anti-Corruption Campaign
By Editors | 25/11/2024
The FCDO said the sanctions mark “the start of a new campaign” to clamp down on corruption and illicit finance both at home and overseas.
Sanctions
OFAC Targets Russian Finance With Sweeping New Sanctions
By Editors | 24/11/2024
The sanctions target Gazprombank, over 50 other Russian banks, more than 40 Russian securities registrars, and 15 Russian finance officials.
Sanctions
Dutch Law Firm Found Facilitating Iranian Oil Sales – Report
By Editors | 23/11/2024
The Dutch law firm reportedly used a Surinamese subsidiary to set up companies to manage oil tankers that are part of Iran’s “ghost fleet”.
Sanctions
Myanmar Groups Call for Sanctions on Myanma Economic Bank
By Editors | 23/11/2024
Civil society groups say state-owned Myanma Economic Bank is being used to circumvent sanctions and enable the military junta to access foreign currency.
Securities / Derivatives
IOSCO Proposes Measures to Tackle Pre-Hedging Risks
By Manesh Samtani | 23/11/2024
IOSCO proposes recommendations to guide regulators in determining acceptable pre-hedging practices and managing the associated conduct risks effectively.
Big Picture
Compensation Must Be Aligned with Prudent Risk-Taking: FSB
By Manesh Samtani | 22/11/2024
New FSB report identifies legal and regulatory challenges associated with the use of compensation tools to promote prudent risk taking.
Fintech / Regtech
Goldman Sachs to Make GS DAP Platform “Industry-owned”
By Nithya Subramanian | 22/11/2024
Goldman will establish a new, standalone company to spin out GS DAP so that it can be used by more participants to interoperate seamlessly.
Sanctions
OFAC Sanctions Six Senior Hamas Officials and Financiers
By Editors | 22/11/2024
OFAC said the targets facilitate terrorist activities, represent Hamas interests abroad, and coordinate transfers of money and goods into Gaza.
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