United States

AML / KYC

US SEC Settles FCPA Charges Against Goldman’s Tim Leissner

By Editors | 18/12/2019

Leissner has agreed to be permanently barred from the securities industry for violating antibribery, internal accounting controls, and books and records provisions of federal securities laws.

Big Picture

Geopolitical Risk Surpasses Cyber as Top Overall Risk: Survey

By Editors | 12/12/2019

Geopolitical risk & trade tensions was cited as the top overall risk for 2020 in DTCC’s annual Systemic Risk Barometer Survey, though cyber was cited more frequently as a ‘top 5 risk’.

AML / KYC

Big Data is Transforming Investigations

By Jeremy Birch | 12/12/2019

Big data is rapidly changing how regulators and law enforcement conduct investigations and build cases, say Jeremy Birch, Peter Jones and Kyle Wombolt at Herbert Smith Freehills.

AML / KYC

HSBC Switzerland to Pay $192mn to Settle US Tax Evasion Probe

By Editors | 12/12/2019

HSBC Switzerland has admitted to conspiring with US taxpayers to evade taxes and helping them to hide more than $1bn in assets from tax authorities.

Securities / Derivatives

Philippine Bourse Proposes Tightening of Delisting Rules

By Editors | 06/12/2019

Under the proposed rules, a voluntary delisting must be approved by all independent directors and by stockholders owning at least 75 percent of the total outstanding listed shares.

Securities / Derivatives

SEBI Lists Permissible Jurisdictions for Depository Receipts Issuance

By Editors | 02/12/2019

Indian companies will be allowed to issue depository receipts on exchanges in the US, Japan, Korea, the UK, France, Germany, Canada, and India’s own international financial centre known as Gift City.

Securities / Derivatives

CFTC Fines Goldman $1mn for Three Weeks of Missing Phone Records

By Editors | 28/11/2019

Goldman’s phone recording hardware failed in January 2014 an went undetected for three weeks, thereby impeding an unrelated CFTC investigation.

Fintech / Regtech

Thailand to Launches DLT Pilot Trading Corporate Bonds

By Editors | 26/11/2019

The DLT project was first announced in September, and will first test trading with bonds before expanding to equities, derivatives and investment funds.

Enforcement

Philippine SEC Orders Takeover of Brokerage Following Stock Theft

By Editors | 19/11/2019

A settlement clerk siphoned client securities into a private account and sold them over eight years, leaving a $13.8 million hole in R&L Investments’ books.