Cryptocurrency

FSC Korea to Launch Virtual Asset Committee This Month

18/09/2024

The committee will discuss issues including a second stage of legislation for the virtual asset market and potential approval of spot crypto ETFs in Korea.

PEPs & Sanctions

OFAC Sanctions More Members of Intellexa Spyware Consortium

18/09/2024

The sanctions target five individuals and an entity for their roles in developing, operating, and distributing commercial spyware technology marketed under the “Predator” brand.

Supervision & Enforcement

US SEC Fines 12 Municipal Advisors for Record Keeping Violations

18/09/2024

The 12 firms agreed to pay combined penalties of more than $1.3mn for failures to preserve records of business communications using unofficial channels.

Fraud, Scams & Cybercrime

France Attempting to Use New Cybercrime Law Against Telegram Founder

18/09/2024

The LOPMI law, enacted in 2023 and as yet untested, is the first globally that gives a court the power to punish executives for abuse of the platforms they operate.

PEPs & Sanctions

US Sanctions Georgian Officials Over Human Rights Abuses

17/09/2024

OFAC sanctioned four individuals while the State Department announced visa restrictions on more than 60 others and their family members.

Clearing & Post-Trade

Indonesia Targets 30 September Launch Date for New CCP

17/09/2024

The new central counterparty will carry out clearing and settlement of transactions involving interest rates and foreign exchange rates.

AI Risk & Governance

New Zealand FMA Joins Global Financial Innovation Network

17/09/2024

The FMA said GFIN will provide it greater opportunities to collaborate with other regulators and work on topics such as AI and tokenisation.

Anti-Money Laundering

US OCC Imposes Restrictions on Wells Fargo for AML Deficiencies

17/09/2024

The OCC requires Wells Fargo to address deficiencies and seek prior written approval before launching new products or services or entering new geographies.

PEPs & Sanctions

EU Seeking Greater Certainty on Russia Sanctions Renewal Process

16/09/2024

The current process requires a unanimous vote from all EU member states every 6 months to renew the sanctions on Russia.