United States

AML / KYC

Nevada Regulator Files Suit Against Subsidiary of Malaysia’s Genting

By Nithya Subramanian | 23/08/2024

The regulator accused Resorts World Las Vegas, a subsidiary of Malaysia’s Genting Berhad, of permitting bets by individuals tied to organised crime.

Securities / Derivatives

US SEC Fines Transfer Agent for Failure to Guard Against Cyber Fraud

By Editors | 23/08/2024

The transfer agent’s failures led to more than $6.6mn in losses from two separate cyber intrusions, one of which involved Hong Kong bank accounts.

Sanctions

OFAC Issues Update on Infrastructure Modernisation Initiatives

By Editors | 22/08/2024

OFAC has released updated FAQs to make sanctions compliance easier and launched a new online platform for the public to submit queries.

Enforcement

Latvia Extradites Citizen to Face US Charges for Russian Exports

By Editors | 22/08/2024

Oleg Chistyakov conspired with two US nationals to sell sophisticated avionics equipment to Russian companies, in violation of sanctions.

Market Infrastructure

Transitioning to T+1 Settlement: Lessons for Asian Firms

By Nithya Subramanian | 22/08/2024

Asia Pacific jurisdictions are increasingly considering moving to a T+1 securities settlement cycle following the US move in May, says DTCC’s Val Wotton.

Sanctions

US Sanctions Former Haitian President for Drug Trafficking

By Editors | 21/08/2024

OFAC said Michel Joseph Martelly facilitated the trafficking of dangerous drugs, laundered illicit drug proceeds, and sponsored criminal gangs.

Enforcement

US SEC’s WhatsApp Probe is Not Yet Over – Report

By Manesh Samtani | 21/08/2024

Penalties still expected against companies including BlackRock, Invesco, Charles Schwab, Blackstone, Apollo Global, Moody’s and S&P Global Ratings.

Sanctions

Shanghai Chip Equipment Firm Sues for Removal from US Blacklist

By Editors | 20/08/2024

AMEC said it has never been involved in any military-related activities and its inclusion in the US blacklist was without legal basis.

AML / KYC

China, US Exchange Letters of Cooperation on Financial Stability

By Editors | 20/08/2024

PBOC and US Treasury officials agreed to strengthen information sharing and coordinate in times of financial stress and operational resilience issues.