United States

PEPs & Sanctions

OFAC Sanctions Chinese Entities in Fentanyl Supply Chain

By Editors | 14/04/2023

The Chinese individuals and companies were allegedly involved in supplying drug cartels with ingredients to make opioids for sale in the US.

Market Risk

FDIC Official Says 2018 Rule Changes Did Not Cause SVB Failure

By Manesh Samtani | 14/04/2023

SVB’s collapse was mostly attributable to mismanagement of interest rate risk. Regulatory change should be evaluated “thoughtfully”.

PEPs & Sanctions

US, UK Announce Coordinated Sanctions Targeting Russia Facilitators

By Editors | 13/04/2023

US sanctions include International Investment Bank, a Russia-controlled financial institution in Hungary, and three of its current and former executives.

Cryptocurrency

FTX Has Recovered Over $7.3b in Cash & Liquid Crypto

By Editors | 13/04/2023

FTX attorney Andy Dietderich reportedly said the situation has stabilised and “the dumpster fire is out”.

Supervision & Enforcement

Taiwan FSC Signs Supervisory Cooperation MoU with NYDFS

By Editors | 13/04/2023

The MoU covers information sharing, financial inspections, disciplinary actions, licensing approvals, and confidentiality related to supervisory duties.

Trading & Investment

CFTC Fines Goldman Sachs for Swaps Conduct Failures

By Editors | 12/04/2023

The CFTC said Goldman touted supposed benefits of same-day swap transactions to clients, but not the corresponding costs.

AI Risk & Governance

Italy ChatGPT Ban Prompts Broader Scrutiny of AI Tools

By Manesh Samtani | 12/04/2023

Taiwan is exploring the use of AI tools by banks. China has issued draft rules for AI development. The US is exploring accountability mechanisms for AI systems.

Resolution & Recovery

Report Examines Policy Implications of US Bank Bailouts

By Mark Johnston | 11/04/2023

Congressional Research Service report examines policy issues raised by the systemic risk exception invoked for SVB and Signature Bank.

Custody & Infrastructure

New FTX Report Reveals Extent of Control Failures

By Manesh Samtani | 11/04/2023

FTX stored private keys in plain text documents without encryption on an FTX group server that was accessible by staff.