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AML / KYC
US Regulators Fine National Bank of Pakistan $55m for AML Violations
By Sanday Chongo Kabange | 01/03/2022
National Bank of Pakistan is required to pay penalties, correct deficiencies in its AML compliance, and submit quarterly progress reports on remedial actions taken.
Enforcement
CSRC Asks Morgan Stanley to Provide Information on US Probe
By Editors | 28/02/2022
The CSRC has reportedly given Morgan Stanley 30 days to provide details about its role in a US investigation into its block trading practices.
AML / KYC
BitConnect Founder Indicted for Running Crypto Ponzi Scheme
By Editors | 28/02/2022
BitConnect founder Satish Kumbhani and his co-conspirators obtained fraudulent gains from investors amounting to about USD 2.4 billion.
AML / KYC
Western Leaders Pledge to Remove Russian Banks from SWIFT
By Manesh Samtani | 28/02/2022
Western leaders have committed to removing “selected Russian banks” from the SWIFT financial messaging system to harm their ability to operate globally.
Securities / Derivatives
US SEC Proposes New Rule to Increase Short Selling Transparency
By Editors | 28/02/2022
Institutional investment managers will have to report information relating to short positions to the SEC on a monthly basis. The data will be aggregated and made available to the public.
AML / KYC
BitMEX Founders Agree Settlement for US AML Violations
By Editors | 28/02/2022
Arthur Hayes and Benjamin Delo have pleaded guilty to breaching AML laws and agreed to pay a USD 10 million fine each.
Securities / Derivatives
US Fed Approves New Trading Rules for Senior Officials
By Sanday Chongo Kabange | 27/02/2022
The rules aim to support public confidence in the impartiality and integrity of the FOMC’s work by guarding against “even the appearance of any conflict of interest”.
AML / KYC
Russia Facing Comprehensive Sanctions Over Ukraine Invasion
By Manesh Samtani | 25/02/2022
The US is targeting all ten of Russia’s largest financial institutions. Russian access to most major markets has been restricted.
Fintech / Regtech
ICE Makes ‘Strategic Investment’ in Digital Securities Platform tZero
By Editors | 24/02/2022
tZERO operates a digital marketplace for unique private assets, public equities, cryptocurrencies, and other digital assets, including NFTs.
AML / KYC
Ex-Goldman Exec Alleges BNM Was Involved in 1MDB Graft
By Editors | 24/02/2022
Tim Leissner said BNM approved a USD 1 billion overnight transfer out of 1MDB but that he could not independently verify whether a bribe was paid.
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