United States

Cybersecurity

CFTC to Develop Stronger Rules to Address Cyber Risk

By Editors | 12/03/2023

The CFTC is seeking to require derivatives dealers to exercise more due diligence and oversight of the third-party service providers.

Emerging Prudential Risks

Citi Warns of Potential for Russia to Weaponise Metal Exports

By Mark Johnston | 10/03/2023

Analysts worry that Russia could retaliate to new US tariffs on imports of Russian aluminium by banning nickel and palladium shipments.

PEPs & Sanctions

OFAC Cracks Down on Entities Helping Iran Evade Sanctions

By Editors | 10/03/2023

The sanctions target entities in China, Hong Kong, Singapore, Malaysia and elsewhere for helping Iran evade sanctions and supplying critical components for its drones.

Anti-Bribery & Corruption

1MDB: Ex-Goldman Banker Sentenced to 10 Years in Prison

By Editors | 10/03/2023

Prosecutors had sought a 15 year sentence for Roger Ng, saying he was a central player in the “brazen and audacious scheme” to steal billions of dollars from 1MDB.

Resolution & Recovery

Crypto Focused Bank Silvergate to Enter Into Liquidation

By Editors | 09/03/2023

Silvergate has served as one of the main banks for crypto companies. The wind down and liquidation plan includes full repayment of all deposits.

Cryptocurrency

NYAG Files Lawsuit Against Crypto Platform KuCoin

By Editors | 09/03/2023

In a first by a US authority, the lawsuit claims that Ether is a security, meaning KuCoin was required to register as a securities broker or dealer.

Cryptocurrency

Court Allows Binance.US to Buy Voyager Despite SEC Objection

By Editors | 09/03/2023

The court said the SEC’s objection was “vague”, that it failed to present any evidence, and that it should not have waited until the last minute to raise its concerns.

Cybersecurity

FIA to Form New Global Taskforce in Response to ION Outage

By Manesh Samtani | 08/03/2023

The taskforce will assess existing cyber protections, response protocols, and safeguards around third-party service providers.

Anti-Bribery & Corruption

US SEC Fines Rio Tinto Over Bribery Scheme Involving Guinea Mining Rights

By Manesh Samtani | 08/03/2023

Rio Tinto paid a former classmate of a Guinean government official for helping it secure mining rights. The consultant later attempted to pay $822,000 to the official.