United States

Crypto / Digital Assets

Sifma Releases Findings from Regulated Settlement Network PoC

By Editors | 09/12/2024

The findings demonstrated the potential of shared ledger technology to settle tokenised money and securities and address current inefficiencies and operational risks.

Crypto / Digital Assets

Korean Securities Firms Asked to Prepare for Market Shocks

By Manesh Samtani | 08/12/2024

BOK promised “unlimited” liquidity. FSS met with 36 securities firms. FSC activated stabilisation funds. VASP operations impacted.

Fintech / Regtech

CFTC Issues Advisory on Use of AI by Regulated Entities

By Nithya Subramanian | 06/12/2024

The advisory is intended to remind market participants of their regulatory obligations as they begin to develop and implement AI.

Enforcement

DOJ Settles With McKinsey Over South Africa Bribery Scheme

By Nithya Subramanian | 06/12/2024

McKinsey will pay $122mn to resolve an investigation into bribes paid to South African officials to secure lucrative consulting contracts.

Sanctions

China Sanctions 13 US Military Firms & Six Executives

By Editors | 06/12/2024

The sanctions, imposed under China’s Anti–Foreign Sanctions Law, are a response to a recent announcement of US arms sales to Taiwan.

AML / KYC

Canada’s FINTRAC Signs AML/CFT MoU with US Regulators

By Thisanka Siripala | 06/12/2024

The MoU will facilitate information exchange, best practice sharing, and coordination on illicit finance risks that affect both the Canadian and US financial systems.

Crypto / Digital Assets

Thai SEC Revises Capital Requirements for Crypto Firms

By Sanday Chongo Kabange | 05/12/2024

The revised requirements aim to increase trust in the digital asset market and enhance investor protection.

AML / KYC

US Federal Court Blocks FinCEN’s Beneficial Ownership Reporting Rule

By Nithya Subramanian | 05/12/2024

The ruling blocks enforcement of the Corporate Transparency Act, suspending the obligation for corporate entities to meet the 1 January 2025 filing deadline.

Enforcement

Barclays Agrees to Settle Class Action Over Securities Over-issuances

By Thisanka Siripala | 05/12/2024

Barclays agreed to pay $19.5mn to settle claims that shareholders lost money because they relied on the bank’s assurances that it had strong internal controls.