United States

Trading & Investment

Korean Securities Firms Under Fire Over US Trade Cancellations

By Manesh Samtani | 09/08/2024

A malfunction at Blue Ocean ATS, which provides connectivity to the US after-hours market, caused $457mn in trade cancellations for Korean investors.

Resolution & Recovery

US Fed Finalises New Guidance on Banks Resolution Plans

By Editors | 09/08/2024

The final guidance generally applies to banks, including foreign banks, with over $250bn in total assets, but not G-SIBs.

Fraud, Scams & Cybercrime

US Court Approves $12.7B Settlement Between CFTC, FTX

By Editors | 09/08/2024

The CFTC’s Ian McGinley said the settlement represents the largest recovery for investors in the regulator’s history.

Anti-Money Laundering

US, Germany Take Down Illicit Crypto Platform Cryptonator

By Editors | 08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

Cryptocurrency

US Court Orders Ripple to Pay $125m for Securities Law Violations

By Manesh Samtani | 08/08/2024

The order ends years-long litigation brought by the US SEC in December 2020. CEO Brad Garlinghouse said the ruling is a “victory”.

Fraud, Scams & Cybercrime

US SEC Investigates Banks Over Interest Underpayments

By Nithya Subramanian | 08/08/2024

The SEC is probing some of the major US banks over allegations that they systematically cheated customers out of interest on deposits.

AI Risk & Governance

US Lawmakers Introduce Regulatory Sandbox Bill for AI

By Editors | 08/08/2024

The legislation would require the Fed, SEC, OCC, CFPB, FDIC, FHFA, and NCUA to establish regulatory sandboxes for AI experimentation.

Data Privacy

US Regulators to Jointly Adopt Common Data Standards

By Editors | 06/08/2024

The Federal Reserve, SEC, CFTC and six other agencies will adopt common identifiers including the LEI and UPI.

Fraud, Scams & Cybercrime

SET Chairman Calls for Reforms to Address Corporate Fraud

By Editors | 05/08/2024

The SET says legal reforms are needed to enable the SEC to bypass the police and go directly to prosecutors, similar to practices in the US, South Korea, and Japan.