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United States
Enforcement
Philippine SEC to Raise Penalties for Late Filing of Reports
By Sanday Chongo Kabange | 03/05/2023
In addition to higher monetary fines, the SEC may label a company ‘delinquent’ or revoke its registration in case of repeated failures.
Crypto / Digital Assets
OFAC Fines Crypto Firm Poloniex for 66,000 Sanctions Violations
By Editors | 03/05/2023
Poloniex allowed customers located in Crimea, Cuba, Iran, Sudan, and Syria to engage in online digital asset-related transactions worth $15.3mn.
Market Infrastructure
Singapore, US Run Cross-border Cybersecurity Exercise
By Editors | 02/05/2023
US Treasury and MAS tested information exchange protocols and incident response coordination for cyber incidents involving banks operating in both jurisdictions.
Sanctions
US Authorities Issues First ‘Wrongful Detention’ Sanctions
By Editors | 02/05/2023
Russia’s Federal Security Service, Iran’s Islamic Revolutionary Guard Corps Intelligence Organization, and four Iranian officials were designated.
Enforcement
Philippine SEC Issues Implementing Rules for Consumer Protection Act
By Sanday Chongo Kabange | 01/05/2023
The implementing rules set out the enforcement actions the SEC may take as well as measures to protect financial consumers.
Capital / Liquidity
US Regulators Conclude Reviews into SVB, Signature Failures
By Manesh Samtani | 01/05/2023
The Fed, FDIC and NYDFS say SVB and Signature Bank were mismanaged, but that regulatory and supervisory lapses also contributed to their failures.
AML / KYC
US Court Convicts Hip Hop Artist Over Jho Low Connection
By Editors | 01/05/2023
Prosecutors said Pras Michél worked with Jho Low to influence the US government during the Obama and Trump presidencies.
Enforcement
Chinese Police Question Staff at Bain & Co Shanghai Office
By Editors | 01/05/2023
The news comes after Chinese authorities closed the Beijing offices of Mintz Group and launched a cybersecurity probe into US chipmaker Micron.
Capital / Liquidity
JPMorgan to Assume First Republic Bank’s Deposits and Loans
By Manesh Samtani | 01/05/2023
The FDIC will provide loss share agreements as well as $50bn in financing. The cost to the Deposit Insurance Fund is estimated at $13bn.
AML / KYC
CFTC Issues Largest Ever Civil Monetary Penalty
By Editors | 30/04/2023
The CFTC ordered the operator of a fraudulent multilevel marketing scheme to pay a $1.7bn penalty and a further $1.7bn in restitution.
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