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United States
Sanctions
UK to Help Cyprus Establish Sanctions Implementation Unit
By Editors | 12/12/2024
That new unit will have new analytical tools and powers to investigate sanctions evasion and ensure the effectiveness of Russia-related sanctions.
Market Infrastructure
FINMA Recognises KRX as Qualified Clearing Organisation
By Editors | 12/12/2024
The recognition means Swiss FIs can receive clearing services from KRX, which has previously been recognized by the CFTC and ESMA.
Sanctions
China Launches Antitrust Probe into US Chip Giant Nvidia
By Editors | 11/12/2024
The probe is seen as a geopolitical rather than a regulatory or legal action, in retaliation against the US’ latest curbs on China’s chip sector.
Securities / Derivatives
Transitioning to T+1 Settlement: Challenges for Europe and Asia
By Nithya Subramanian | 11/12/2024
DTCC’s Val Wotton discusses how Asia-based firms will be impacted by the transition to T+1 in the UK and Europe.
Enforcement
US SEC Fines Morgan Stanley Smith Barney Over Theft of Client Funds
By Thisanka Siripala | 11/12/2024
The SEC said the firm failed to prevent four financial advisors from misappropriating nearly $10mn of client funds.
Sanctions
OFAC Sanctions Chinese Cybersecurity Company and Employee
By Editors | 11/12/2024
OFAC said the employee was responsible for deploying malware to 81,000 firewalls owned by thousands of businesses worldwide in April 2020.
Enforcement
US Regulator Places Google Payment Corp Under Supervision
By Thisanka Siripala | 11/12/2024
Google Payment Corp says the consumer complaints cited by the CFPB are based on a discontinued service that no longer poses a risk.
Enforcement
US Lawmakers Allege Widespread Abuse of BSA for Surveillance
By Thisanka Siripala | 11/12/2024
The lawmakers say the government access to the private financial data of US citizens is “widespread and virtually unchecked”.
ESG / Sustainability
Goldman Sachs Withdraws from Net-Zero Banking Alliance
By Thisanka Siripala | 11/12/2024
The bank said it will continue to advance its net zero goals and that its priorities remain to help clients achieve their sustainability goals.
Crypto / Digital Assets
FDIC Blocked Banks from Servicing Crypto Firms Throughout 2022
By Thisanka Siripala | 10/12/2024
Coinbase obtained FDIC letters showing that the regulator prevented banks from engaging in crypto-related activities throughout 2022.
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