United States

Sanctions

OFAC Issues New Russia Sanctions Over ‘Malign Influence Efforts’

By Editors | 20/03/2024

Two individuals and their companies were sanctioned for creating fake websites designed to impersonate government bodies and media outlets with intent to deceive.

Enforcement

CFTC Fines US Bank, Oppenheimer for Record Keeping Failures

By Editors | 20/03/2024

US Bank was fined $6mn and Oppenheimer $1mn. Last month, the SEC also announced fines against Oppenheimer and a US Bank affiliate in a related case.

Crypto / Digital Assets

US SEC Secures $21m Settlement from Crypto Lender Genesis

By Editors | 20/03/2024

Genesis will only have to pay the civil penalty after all allowed claims in its bankruptcy are settled, including claims by Gemini Earn investors.

Big Picture

US Move to T+1 Settlement Poses Systemic Risk to Europe

By Mark Johnston | 20/03/2024

EFAMA says in a policy paper that the US move to a T+1 settlement cycle could dmea European fund managers would be unable to meet CLS cut-off times.

Enforcement

China’s Didi Required to Face Investor Lawsuit Over 2021 IPO

By Editors | 19/03/2024

Besides allowing the investor lawsuit to proceed against Didi, the US court also refused to dismiss claims against banks that helped the company go public.

Enforcement

US DOJ Proposes 50 Year Prison Term for FTX Founder

By Mark Johnston | 19/03/2024

Prosecutors proposed a 40-50 year prison term, $11bn fine and forfeiture for Sam Bankman-Fried, who faces sentencing on 28 March.

Enforcement

US SEC Fines Two Investment Advisers for AI Washing

By Editors | 19/03/2024

“Investment advisers should not mislead the public by saying they are using an AI model when they are not,” said the SEC’s Gary Gensler.

ESG / Sustainability

UNDP, MAS, GLEIF Launch Whitepaper on Project Savannah

By Ranamita Chakraborty | 18/03/2024

The whitepaper details Project Savannah’s goals and strategy for empowering MSMEs in sustainability reporting through three key pillars.

Enforcement

US DOJ Probes Adani Group Over Potential Bribery Allegations

By Mark Johnston | 18/03/2024

The latest probe delves into whether an Adani entity was involved in making payments to Indian officials for favourable outcomes on an energy project.