United States

AML / KYC

First North Korean Set to Face US Money Laundering Charges

By Manesh Samtani | 24/03/2021

Extradited to the US two years after his arrest in Malaysia, the North Korean national will face charges for money laundering, evading sanctions, and defrauding banks.

Enforcement

DOJ to Probe Visa Over Debit Card Routing Practices

By Ranamita Chakraborty | 24/03/2021

Visa is alleged to have engaged in anti-competitive practices by preventing merchants from routing payments through other card networks.

Crypto / Digital Assets

CFTC Penalises Coinbase for False Reporting, Wash Trading

By Editors | 23/03/2021

The settlement requires Coinbase to pay $6.5mn, and desist from any further violations of the Commodity Exchange Act or CFTC regulations.

Enforcement

Former Fed Employee Pleads Guilty to Stealing Bank Stress Test Data

By Sanday Chongo Kabange | 23/03/2021

The former employee faces jail time for removing restricted documents from his workstation, including proprietary information used by the Fed to conduct bank stress tests.

Capital / Liquidity

Climate Risk & Regulation: A Race to the Top

By Manesh Samtani | 23/03/2021

Bill Coen, Chair of the IFRS Advisory Council and former BCBS Secretary General, speaks to Regulation Asia about initiatives underway to mitigate climate-related risk in the banking sector.

Enforcement

CBA, ANZ to Settle 2016 Lawsuit Involving BBSW Manipulation

By Editors | 23/03/2021

The case was initially launched by two US hedge funds and a US-based derivatives trader, alleging they suffered losses due to bank manipulation of the BBSW.

Enforcement

New York Court Reinstates SIBOR Manipulation Lawsuit

By Editors | 19/03/2021

The case is being reinstated to allow Fund Liquidation Holdings LLC to pursue claims against 18 banks on behalf of two defunct funds that initially launched the lawsuit.

AML / KYC

US Sanctions 24 Officials Over Hong Kong Electoral Changes

By Editors | 19/03/2021

Foreign financial institutions that knowingly conduct significant transactions with the 24 individuals are subject to sanctions.

Capital / Liquidity

SEC Thailand Proposes Measures to Protect Funds from Panic Selling

By Editors | 18/03/2021

The SEC is considering imposing conditions for investors seeking to redeem mutual fund units, among other measures to enhance liquidity management at funds.