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United States
Sanctions
OFAC Highlights US-Origin Goods in Latest Sanctions Settlement
By Editors | 18/08/2023
Employees at a UAE subsidiary of a US firm falsified documents in an attempt to disguise the transactions involving the re-export of US-origin goods to Iran.
Crypto / Digital Assets
Coinbase Successfully Registers as Futures Commission Merchant
By Editors | 17/08/2023
This is the first time a crypto-native platform in the US has been granted approval to offer crypto futures alongside traditional spot crypto trading.
Crypto / Digital Assets
FDIC Adds Crypto as Key Risk in Annual Review Report
By Editors | 17/08/2023
The FDIC says it has developed processes to engage in “robust supervisory discussions” with banks on crypto-asset risks.
Sanctions
US Sanctions Three Entities Tied to Russia-DPRK Arms Deals
By Editors | 16/08/2023
The three entities are owned or controlled by a Slovakian arms dealer who was sanctioned by the US in March.
Market Infrastructure
Philippines to Implement T+2 Stock Settlement Cycle on 24 Aug
By Sanday Chongo Kabange | 16/08/2023
The move will enhance operational efficiency, reduce risk, and align with overseas markets, said PSE CEO Ramon Monzon.
ESG / Sustainability
US SEC Scrutinising ESG Marketing by Fund Managers – Report
By Sanday Chongo Kabange | 16/08/2023
The SEC’s enforcement division sent document requests to several asset managers seeking information about their ESG strategies and marketing prepositions.
AML / KYC
Ex-FBI Agent Admits He Worked for Sanctioned Russian Oligarch
By Editors | 15/08/2023
Charles McGonigal, one of the highest-ranking FBI agents to ever face criminal charges, entered a guilty plea on Tuesday in New York.
Crypto / Digital Assets
US Prosecutors File Amended Indictment Against Sam Bankman-Fried
By Editors | 15/08/2023
The new indictment drops a campaign finance charge but includes an illegal campaign finance scheme as part of original fraud and money laundering charges.
Market Infrastructure
DTCC Kicks Off T+1 Settlement Testing Programme
By Editors | 15/08/2023
The testing programme was designed to support full end-to-end testing of the various processes impacted by the T+1 functional changes.
Enforcement
UBS Settles RMBS-related Misconduct Lawsuit for Over $1.4b
By Editors | 15/08/2023
The settlement brings the total amount of civil penalties paid by firms for failed RMBS leading up to the 2008 financial crisis to over USD 36 billion.
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