United States

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    AI Risk & Governance

    US Treasury Seeks Input on Use of AI in Financial Services

    By Manesh Samtani | 07/06/2024

    Treasury Secretary Janet Yellen said the use of AI in finance presents “tremendous opportunities and significant risks”.

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    Cryptocurrency

    Thai SEC Grants First Approval for Bitcoin ETF

    By Editors | 07/06/2024

    The ETF will operate under a fund-of-funds structure, allocating investments across major global Bitcoin funds.

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    PEPs & Sanctions

    US Authorities Accused of Ignoring Evidence Against StanChart

    By Editors | 06/06/2024

    A whistleblower says US officials falsely denied that he had provided useful information in order to have his claim for a whistleblower reward dismissed.

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    Supervision & Enforcement

    US to Establish Registry of Law-Breaking Nonbank Financial Firms

    By Editors | 06/06/2024

    The registry will help authorities monitor and track repeat offenders in order to better hold them accountable if they break the law again.

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    Anti-Money Laundering

    US Authorities Arrest Epoch Times CFO for Money Laundering

    By Editors | 06/06/2024

    The DOJ alleges Weidong Guian participated in a “sprawling, transnational scheme” to launder $67mn million of crime proceeds.

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    PEPs & Sanctions

    US Officials Warn of Sanctions Against Chinese Firms

    By Editors | 03/06/2024

    US officials Wally Adeyemo and Kurt Campbell say Chinese firms and financial institutions could be targeted with sanctions for assisting Russia.

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    PEPs & Sanctions

    US, EU Announces Sanctions Targeting Iran Drone Programme

    By Editors | 03/06/2024

    The action aims to “disrupt Iran’s production and proliferation of deadly UAVs that continue to be used by Russia against Ukraine and by regional terrorist proxies.”

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    PEPs & Sanctions

    OFAC Sanctions Two African Firms Linked to Russia’s Wagner Group

    By Editors | 31/05/2024

    Two companies were designated for enabling “Wagner Group security operations” and “illicit mining endeavors” in the Central African Republic.

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    Capital Adequacy

    EU Adopts Final Basel III Rules, Confirms Jan 2025 Roll-Out

    By Manesh Samtani | 31/05/2024

    Earlier this week, an ECB official said Basel III should be delayed in the EU if the US is too slow to adopt its own reform plan.

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    Cryptocurrency

    NYDFS Sets Customer Service Standards for Crypto Firms

    By Editors | 31/05/2024

    New NYDFS guidance sets expectations for crypto firms regarding customer service, complaints response and resolution, and reporting.

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