United States

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    Fintech / Regtech

    Korea FSS Issues Guidance on Financial Reporting in XBRL Format

    By Editors | 21/01/2025

    The FSS is progressively expanding the use of XBRL for financial reporting but has identified some deficiencies in XBRL submissions

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    Enforcement

    US DOJ Sues KKR For Violating Pre-merger Review Law

    By Nithya Subramanian | 21/01/2025

    Investment firm KKR allegedly breached the law at least 16 times through document omissions, alterations, and failures to report deals

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    Crypto / Digital Assets

    Donald Trump Has Been Sworn in as US President

    By Manesh Samtani | 21/01/2025

    Executive orders were signed to withdraw the US from the Paris Climate Agreement and to delay enforcement of the TikTok ban

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    Enforcement

    OFAC Fines Machine Tools Manufacturer for Violating Russia Sanctions

    By Editors | 21/01/2025

    OFAC said firms should ensure they implement effective measures to prevent both direct and indirect access to their goods and services by blocked persons

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    Enforcement

    OFAC Fines Real Estate Company for Sanctions Evasion Scheme

    By Editors | 20/01/2025

    OFAC said FIs that deal with gatekeepers should conduct sufficient due diligence to ensure they are not acting as proxies for sanctioned parties

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    Enforcement

    US SEC Fines Vanguard for Misleading Retirement Fund Disclosures

    By Nithya Subramanian | 20/01/2025

    The SEC penalised Vanguard for failing to disclose tax risks tied to redemptions from its target retirement funds, leaving retail investors with higher tax liabilities.

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    CICC Granted Approval to Operate in Dubai Financial Centre

    By Mark Johnston | 20/01/2025

    DFSA CEO Ian Johnston described the approval as “a big step forward” for facilitating deals and arrangements between China and the UAE.

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    ESG / Sustainability

    Fed Leaves NGFS, Adding to Wave of US Exits from Global Climate Coalitions

    By Manesh Samtani | 19/01/2025

    NGFS said it regrets but respects the Fed’s decision. NZAM has separately suspended key activities in apparent response to BlackRock’s exit.

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    Enforcement

    Amex to Pay $230mn to Settle Case Over Deceptive Sales Practices

    By Thisanka Siripala | 19/01/2025

    American Express sales employees misrepresented the tax benefits of certain products and used false employer identification numbers to open accounts

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    Sanctions

    OFAC Unveils Final Set of Sanctions Under Biden Presidency

    By Editors | 19/01/2025

    The latest sanctions announcements were made over the Sudan conflict, North Korean IT workers, Houthi financing and Chinese cyber attacks.

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