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United States
Enforcement
US DOJ Secures Guilty Plea in Export Control Evasion Case
By Editors | 30/04/2024
The defendant allegedly tried to procure dual-use electronic components for entities in Russia involved in the development and manufacture of drones.
Sanctions
Chinese Firms Turning to Illegal Channels for Russia Business
By Editors | 30/04/2024
With China’s big banks no longer processing Russia-related payments, exporters are increasingly turning to underground channels including cryptocurrency.
Market Infrastructure
Last Stretch to T+1: Identifying Potential Bumps for Firms in Asia
By Nellie Dagdag | 30/04/2024
Nellie Dagdag says May 28th is not the end date for T+1 preparations; rather it is an awakening date for appreciation of the benefits of accelerated settlement.
US Ban on Non-Competes Has Financial Industry Worried
By Manesh Samtani | 29/04/2024
The FTC announced a ban on non-compete clauses last week, prompting concerns over employee lawsuits and theft of trade secrets.
Sanctions
OFAC Extends Authorisation for Russia-related Energy Transactions
By Editors | 29/04/2024
The general licence authorises energy-related transactions with nine Russian banks and the central bank. It was scheduled to expire on 1 May 2024.
Crypto / Digital Assets
Crypto Software Firm Consensys Files Suit Against US SEC
By Nithya Subramanian | 29/04/2024
Consensys has asked a federal court to declare that Ethereum is not a security, and therefore outside the SEC’s jurisdiction.
Capital / Liquidity
FDIC Seizes and Sells Republic First Bancorp in Latest Rescue
By Editors | 29/04/2024
The bank ran into trouble in early 2023 due to high cost pressures, a decline in deposits, a struggling mortgage lending business, and an inability to improve profitability.
AML / KYC
US DOJ Charges Founders of Crypto Mixer “Samourai Wallet”
By Editors | 27/04/2024
Over around ten years, Samourai Wallet was used to launder over $100mn in crime proceeds, earning the founders at least $4mn in fees.
Sanctions
US, UK, Canada Announces More Sanctions for Iran’s Airstrike
By Editors | 26/04/2024
The US targeted 16 entities, eight individuals, five vessels and one aircraft. The UK and Canada also sanctioned targets involved in Iran’s drone and missile industries.
Enforcement
DOJ Charges Two Chinese Nationals for IEEPA Violations
By Editors | 26/04/2024
The two individuals (one arrested) conspired to evade export controls to obtain US chip-making technology for a prohibited Chinese company.
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