Fintech / Regtech

FSC Korea Unveils Rule Changes Targeting Cyber Resilience

04/02/2024

The revisions will make the existing rules simpler and less prescriptive, allowing financial firms more room to make decisions autonomously.

Sanctions

OFAC Sanctions Iranians Over Cyber Attacks on US Water Plants

03/02/2024

No critical services were disrupted in the attacks, but OFAC said the US is “deeply concerned” about attacks that target critical infrastructures.

AML / KYC

US DOJ Unseals More Charges in BTC-e Case

03/02/2024

Aliaksandr Klimenka faces 25 years in prison for operating unlicensed money services business and laundering criminal proceeds.

Enforcement

US OCC Fines RBC’s US Unit Over Risk Management Deficiencies

03/02/2024

A cease-and-desist order requires the bank to take “broad and comprehensive corrective actions” to improve its strategic planning and internal controls.

Enforcement

Taiwan: FSC Fines Taichung Bank Following Arrest of Chairman

03/02/2024

The bank’s chairman was detained for allegedly embezzling TWD 1 billion and later released on bail, with restrictions.

Securities / Derivatives

US Fed Tightens Policy on Personal Investments by Staff

02/02/2024

Under the new policy, staff can be directed to submit brokerage and transaction statements to verify financial disclosure accuracy.

Market Infrastructure

Pakistan Introduces Electronic Platform for Interbank FX Trades

02/02/2024

The platform provides real time price visibility and features a new electronic matching system for interbank FX trades.

Market Infrastructure

EU Agrees on New Listing Act, Multiple-Vote Share Structures

02/02/2024

The Listing Act will make it cheaper and easier for companies to list. Multiple-vote share structures will ensure founders retain sufficient control after listing.

AML / KYC

Binance Faces Lawsuit from Hamas Victims for Facilitating Terrorism

02/02/2024

The lawsuit, which alleges that Binance enabled Hamas to finance the 7 October attacks, also names Iran and Syria as defendants.