United States

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    Market Infrastructure

    Last Stretch to T+1: Identifying Potential Bumps for Firms in Asia

    By Nellie Dagdag | 30/04/2024

    Nellie Dagdag says May 28th is not the end date for T+1 preparations; rather it is an awakening date for appreciation of the benefits of accelerated settlement.

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    US Ban on Non-Competes Has Financial Industry Worried

    By Manesh Samtani | 29/04/2024

    The FTC announced a ban on non-compete clauses last week, prompting concerns over employee lawsuits and theft of trade secrets.

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    Sanctions

    OFAC Extends Authorisation for Russia-related Energy Transactions

    By Editors | 29/04/2024

    The general licence authorises energy-related transactions with nine Russian banks and the central bank. It was scheduled to expire on 1 May 2024.

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    Crypto / Digital Assets

    Crypto Software Firm Consensys Files Suit Against US SEC

    By Nithya Subramanian | 29/04/2024

    Consensys has asked a federal court to declare that Ethereum is not a security, and therefore outside the SEC’s jurisdiction.

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    Capital / Liquidity

    FDIC Seizes and Sells Republic First Bancorp in Latest Rescue

    By Editors | 29/04/2024

    The bank ran into trouble in early 2023 due to high cost pressures, a decline in deposits, a struggling mortgage lending business, and an inability to improve profitability.

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    AML / KYC

    US DOJ Charges Founders of Crypto Mixer “Samourai Wallet”

    By Editors | 27/04/2024

    Over around ten years, Samourai Wallet was used to launder over $100mn in crime proceeds, earning the founders at least $4mn in fees.

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    Sanctions

    US, UK, Canada Announces More Sanctions for Iran’s Airstrike

    By Editors | 26/04/2024

    The US targeted 16 entities, eight individuals, five vessels and one aircraft. The UK and Canada also sanctioned targets involved in Iran’s drone and missile industries.

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    Enforcement

    DOJ Charges Two Chinese Nationals for IEEPA Violations

    By Editors | 26/04/2024

    The two individuals (one arrested) conspired to evade export controls to obtain US chip-making technology for a prohibited Chinese company.

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    Sanctions

    US, Japan, Korea to Collaborate on Technology Export Controls

    By Editors | 26/04/2024

    The launch of the “Disruptive Technology Protection Network” comes amid US calls for Japan and Korea to tighten controls on chip-related exports to China.

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    Sanctions

    US President Signs National Security Package Into Law

    By Editors | 25/04/2024

    Among other things, the package broadens sanctions on Iran, allows confiscation of Russian assets, and requires TikTok to separate from ByteDance.

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