United States

AML / KYC

Philippine SEC Rates Securities Sector for Money Laundering

By Sanday Chongo Kabange | 12/05/2021

The SEC found that investment houses and underwriters presented ‘medium-high’ risk, compared to ‘medium’ risk for the securities sector overall.

Securities / Derivatives

Philippine SEC Joins ASEAN Framework for Cross-border Funds

By Editors | 12/05/2021

Regulators from Singapore, Malaysia and Thailand – already part of the initiative – have signed a supplemental MoU admitting the Philippine SEC into the CIS framework.

Securities / Derivatives

CFA Institute Launches Working Group to Examine SPACs

By Sanday Chongo Kabange | 11/05/2021

The working group will publish a report in early 2022 and present its findings and policy recommendations, to US and global regulators.

AML / KYC

US Court Lifts Investment Ban Against Luokung Technology Corp

By Editors | 10/05/2021

Separately, China Mobile, China Unicom and China Telecom have lost their appeals of a NYSE decision to delist their shares.

Market Infrastructure

ARRC Identifies Indicators for Recommending SOFR-based Term Rate

By Editors | 09/05/2021

The ARRC has published guidance on the indicators it will use to measure the progress needed to recommend a SOFR-based term rate.

Market Infrastructure

US Banks Execute First BSBY-Linked Swaps Transaction

By Editors | 06/05/2021

Bank of America and JPMorgan Chase entered into a $250mn one-year basis swap with one side tied to BSBY, the other to SOFR.

AML / KYC

US Lawmakers Call for ‘War-like Footing’ Against Corruption

By Editors | 05/05/2021

In a letter to Janet Yellen, two lawmakers have called for AML obligations to be expanded to hedge funds, private equity, and other professional enablers.

AML / KYC

Ex-Netflix VP Convicted of Money Laundering, Fraud

By Sanday Chongo Kabange | 05/05/2021

The executive approved millions of dollars in contracts for Netflix to purchase IT products and services in exchange for kickbacks.

AML / KYC

OFAC Penalises MoneyGram & SAP for Sanctions Violations

By Editors | 05/05/2021

In both cases, OFAC cited voluntary self-disclosures, the non-egregiousness of the violations, and remedial action as the reasons for the penalty amounts.