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United States
AML / KYC
US Fed Probing Morgan Stanley AML Controls – Report
By Editors | 12/11/2023
The Fed is reported to be assessing whether Morgan Stanley has sufficient controls in place to prevent wealthy foreign customers from laundering money.
Market Infrastructure
US Unit of China’s ICBC Suffers Ransomware Attack
By Editors | 10/11/2023
The attack disrupted some of ICBC’s systems and left some trades in the US Treasury and equity markets unable to settle.
Enforcement
US Prosecutors Secure Guilty Plea from OneCoin Executive
By Mark Johnston | 10/11/2023
Irina Dilkinska was in charge of compliance at OneCoin, a global crypto scam that lured investors with false promises of high returns.
Market Infrastructure
DTCC Opens Access to OTC Derivatives Market Data
By Editors | 09/11/2023
“OTC Direct Connect” allows market participants to access OTC derivatives transaction data that are reportable in the US and Canada.
Market Infrastructure
US Adds Vietnam to FX Monitoring List, Removes Korea
By Editors | 09/11/2023
US Treasury is monitoring the currency practices and macroeconomic policies of six trading partners, including China, Malaysia, Singapore, and Taiwan.
AML / KYC
FinCEN Finalises Rule on Use of FinCEN Identifiers in BOI Reporting
By Editors | 08/11/2023
Beneficial owners of numerous reporting companies would be able to use FinCEN identifiers to simplify the reporting process and for data security purposes.
Sanctions
New York State Fines Payments Company for Weak Sanctions Controls
By Editors | 07/11/2023
Payoneer settles with New York State for USD 1.2 million for compliance failings after paying OFAC USD 1.4 million in 2021.
Sanctions
US Government Tells Banks to Watch for Signs of Export Controls Evasion
By Editors | 07/11/2023
Latest BIS-FinCEN alert introduces a new filing code for suspicious activity reports related to suspected export controls evasion.
Enforcement
New OFAC Settlement Highlights Compliance for E-Commerce
By Editors | 07/11/2023
The US Treasury Department said a US-based online rewards company failed to identify transactions involving persons in Crimea, Cuba, Iran, and Syria.
Securities / Derivatives
CFTC to Allow Brokers Greater Flexibility to Invest Client Funds
By Editors | 06/11/2023
FCMs and DCOs will be able to invest client funds in foreign sovereign debt and certain short-term US Treasury ETFs.
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