Fraud, Scams & Cybercrime

OFAC Sanctions Two Members of the ‘Cyber Army of Russia’

21/07/2024

Two Russian nationals separately pleaded guilty to participating in LockBit ransomware attacks, the DOJ announced separately.

Conduct, Culture & Accountability

Amex Fined in Australia for Issuing Unsuitable Credit Cards

20/07/2024

The decision highlights requirements for product issuers to actively review whether their target market determinations remain appropriate over time.

Anti-Money Laundering

Thai Banks Urged to Tighten Scrutiny of Myanmar Transactions

20/07/2024

Thai Foreign Minister told parliament that the government will meet with banks regarding their due diligence processes for Myanmar transactions.

Reporting & Disclosures

Japan FSA to Promote Earlier Issuance of Annual Reports

20/07/2024

The FSA will soon hold a market consultation on measures to encourage companies to issue annual reports early, as recommended by the ICGN.

Clearing & Post-Trade

FMSB Drafts Standard for Sharing Standard Settlement Instructions

20/07/2024

The draft standard aims to increase the adoption of electronic solutions for sharing SSIs and address errors and inefficiencies in current processes.

PEPs & Sanctions

OFAC Announces More Sanctions Targeting Houthi Funding

20/07/2024

The targets include individuals and companies based in Indonesia, Malaysia, Singapore, China, and the UAE, along with five vessels.

Custody & Infrastructure

ANNA, DTIF to Streamline Digital Asset Regulatory Reporting

19/07/2024

ANNA and DTIF will work to integrate DTIs and ISINs in KYAX’s reporting tool to simplify compliance with reporting requirements under MiCA and EMIR Refit.

Trading & Investment

FIA Issues Best Practices on Managing Automated Trading Risks

19/07/2024

New paper outlines practices on pre-trade risk management, exchange volatility control mechanisms, post-trade analysis and testing, among other areas.

Market Abuse

Ex-Goldman, Blackstone Analyst Sentenced for Insider Trading

19/07/2024

The former analyst passed MNPI to a friend and a family member who made a combined $400,000 in illegal profits.