United States

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    Cybersecurity

    NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

    By Editors | 07/05/2023

    BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.

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    Market Abuse

    Ex-OpenSea Manager Convicted for NFT Insider Trading Scheme

    By Editors | 05/05/2023

    Nathaniel Chastain chose which NFTs to feature on OpenSea’s home page and then covertly traded those NFTs, altogether making about $57,000 in profits.

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    Market Abuse

    Goldman Under Probe for Possible Role in SVB Collapse

    By Editors | 05/05/2023

    Goldman Sachs said it is cooperating with governmental bodies in connection with their investigations and inquiries into SVB.

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    Conduct, Culture & Accountability

    CFTC Suspends Longest Serving Inspector General for Misconduct

    By Editors | 05/05/2023

    An oversight body for inspectors general found that Roy Lavik wasted government funds, revealed the identities of whistleblowers, and disparaged employees.

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    Liquidity Risk

    PacWest Bancorp Exploring Potential Capital Raise or Sale – Reports

    By Manesh Samtani | 04/05/2023

    There is concern that PacWest might be the next bank to fail, though it is smaller than SVB and First Republic and has 75 percent of its deposits insured.

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    Structural Regulation

    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.

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    PEPs & Sanctions

    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.

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    Cybersecurity

    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.

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    PEPs & 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.

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    Conduct, Culture & Accountability

    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.

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