United States

PEPs & Sanctions

OFAC Makes Structural Changes to Minimise Collateral Damage of Sanctions

By Editors | 15/05/2023

OFAC hired a chief sanctions economist to lead a new division that will assess the potential collateral economic effects of proposed sanctions.

Fraud, Scams & Cybercrime

Creditors of Bankrupt Crypto Firm QuadrigaCX to Get Payout

By Mark Johnston | 15/05/2023

The payout amounts to about 13 percent of the value of creditor claims filed against QuadrigaCX, which was found to be a Ponzi scheme and a fraud.

Market Abuse

Lawsuit Alleges Jump Trading Manipulated TerraUSD Stablecoin

By Mark Johnston | 15/05/2023

Illinois lawsuit accuses high-frequency crypto trading firm Jump Trading manipulated TerraUSD stablecoin.

PEPs & Sanctions

US DOJ Approves First Transfer of Seized Russian Funds to Ukraine

By Editors | 15/05/2023

“While this represents the United States’ first transfer of forfeited Russian funds for the rebuilding of Ukraine, it will not be the last,” said Attorney General Merrick Garland.

Resolution & Recovery

FDIC to Charge Banks $16bn to Recover SVB, Signature Losses

By Manesh Samtani | 14/05/2023

The FDIC proposes to require lenders with more than $50bn in assets to cover 95% of the losses associated with the SVB and Signature Bank failures.

Market Abuse

CFTC Fines HSBC for “Deceptive Trading”, WhatsApp Use

By Editors | 14/05/2023

The CFTC fined three HSBC affiliates a total $75m for manipulative and deceptive trading, spoofing, and supervision and record-keeping failures.

Sustainable Finance

Philippine SEC Adopts ASEAN SRF Standards

By Sanday Chongo Kabange | 14/05/2023

Rules are established to enable local and ASEAN-member investment companies and CIS operators to offer sustainable and responsible funds locally and across the region.

Anti-Bribery & Corruption

US SEC Fines Philips for Corrupt Practices in China

By Editors | 14/05/2023

Dutch medical supplier engaged in “improper” conduct and bidding practices to sell its medical technology products in China.

Liquidity Risk

California Regulator Concludes Reviews into SVB Failure

By Editors | 13/05/2023

In the years leading up to SVB’s failure, DPFI identified deficiencies at the bank, but “did not take adequate steps” to ensure they were resolved quickly.