United States

Securities / Derivatives

ISDA to Commence Work to Update FX Standards

By Manesh Samtani | 26/03/2024

CEO Scott O’Malia said ISDA is also prioritising the development of a new industry notices hub and continuing to engage with US policymakers on the proposed Basel III reforms.

AML / KYC

Netherlands: Trial Against Tornado Cash Co-founder is Underway

By Editors | 26/03/2024

Alexey Pertsev is accused of participating in Tornado Cash’s money laundering activities. A verdict is expected six weeks after the trial concludes this week.

Capital / Liquidity

APAC Banking Sector Well-prepared for Basel III Adoption: Fitch

By Ranamita Chakraborty | 26/03/2024

APAC banking groups are well-prepared due to prevailing conservative regulatory approaches and less extensive use of internal models within the region.

Crypto / Digital Assets

OFAC Sanctions Crypto Targets Over Russia Sanctions Evasion

By Editors | 26/03/2024

The sanctioned entities either helped build or operate blockchain-based services or enabled virtual currency payments in the Russian financial sector, enabling potential sanctions evasion.

Enforcement

US, UK Announce Sanctions Against China-based Hackers

By Editors | 26/03/2024

A front company allegedly operating for China was sanctioned, along with 2 members of hacking group APT31. DOJ unsealed criminal charges against 7 individuals.

Enforcement

US PCAOB Penalises Three Partners of KPMG’s Chinese Affiliate

By Mark Johnston | 25/03/2024

The three partners violated PCAOB standards in connection with their audit of the Chinese education company in 2017.

Enforcement

Montenegro Halts Do Kwon Extradition to South Korea

By Sanday Chongo Kabange | 25/03/2024

Montenegro’s top prosecutor said only the Minister of Justice can decide on extradition, not the High Court, so now the Supreme Court will weigh in.

Enforcement

FINRA Issues First Fine Over Use of Social Media Influencers

By Editors | 23/03/2024

FINRA said M1 Finance did not review or approve the content in influencers’ posts or have written procedures in place for supervising those communications.

Sanctions

India Stops Accepting Oil from Sanctioned Russian Vessels

By Editors | 22/03/2024

Private and state-run refiners in India have stopped accepting cargoes from vessels owned by Sovcomflot, which was sanctioned by the US last month.