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United States
Market Abuse
Six US Banks Agree to Settle Antitrust Litigation for $80m
By Editors | 31/07/2024
The banks allegedly colluded to bid up bond prices at auction and then sell those bonds at inflated prices to pension funds and other investors.
Clearing & Post-Trade
IIB Warns of Extraterritoriality of Treasury Clearing Proposal
By Editors | 31/07/2024
Under a proposed FICC rule, the SEC’s clearing mandate on US Treasury securities would apply to an entire foreign bank, rather than just its US-based branch.
PEPs & Sanctions
OFAC Targets Iran Weapons Programmes With New Sanctions
By Editors | 31/07/2024
The sanctions cover two procurement networks that help Iran obtain components for weapons systems, including Hong Kong and China-based targets.
Fraud, Scams & Cybercrime
US Authorities Charge Founder of Crypto Firm BitClout
By Editors | 31/07/2024
Nader Al-Naji faces civil and criminal charges for allegedly lying to investors and misappropriating investments for personal expenses and gifts.
Supervision & Enforcement
Fed Terminates Enforcement Action Against Silvergate Bank
By Editors | 31/07/2024
The enforcement action has been in effect since May 2023 to protect depositors. Silvergate has since completed its liquidation and wind-down plan and paid back depositors.
Structural Regulation
CFTC Expands Access to Foreign Futures for US Investors
By Editors | 30/07/2024
Commissioner Caroline Pham says US market participants will have more choice in brokers and broker arrangements to trade foreign futures.
Anti-Money Laundering
US Treasury Launches Amazon Initiative to Combat Nature Crimes
By Nithya Subramanian | 30/07/2024
The initiative will enable authorities in Amazon Basin countries to pursue money laundering investigations against illicit actors involved in nature crimes.
Cloud & Infrastructure
US Regulators Request Information from Banks on Fintech Partnerships
By Editors | 27/07/2024
The Fed, FDIC, and OCC asked banks to provide information on their arrangements with third party fintech firms and risk management practices.
PEPs & Sanctions
OFAC Fines State Street for Sanctions Violations by Subsidiary
By Editors | 27/07/2024
Charles River Systems, acquired by State Street in 2018, redated and reissued invoices for Sberbank and VTB Bank subsidiaries to circumvent sanctions restrictions.
Fraud, Scams & Cybercrime
US, UK, South Korea Warn of DPRK Espionage Campaign
By Editors | 26/07/2024
Joint advisory says North Korean hacker group ‘Andariel’ is a threat to entities in the US, UK, South Korea, Japan and India.
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