United States

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    AML / KYC

    TD Bank Provisions Additional $2.6b for Expected AML Penalties

    By Editors | 25/08/2024

    TD Bank said a global resolution of investigations by prudential regulators, FinCEN and the DOJ is expected by year-end.

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    US Federal Court Strikes Down FTC Rule on Non-Competes

    By Editors | 24/08/2024

    The court found that the FTC exceeded its statutory authority in issuing the rule, which would have banned non-competes from 4 September.

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    AML / KYC

    Nevada Regulator Files Suit Against Subsidiary of Malaysia’s Genting

    By Nithya Subramanian | 23/08/2024

    The regulator accused Resorts World Las Vegas, a subsidiary of Malaysia’s Genting Berhad, of permitting bets by individuals tied to organised crime.

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    Securities / Derivatives

    US SEC Fines Transfer Agent for Failure to Guard Against Cyber Fraud

    By Editors | 23/08/2024

    The transfer agent’s failures led to more than $6.6mn in losses from two separate cyber intrusions, one of which involved Hong Kong bank accounts.

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    Sanctions

    OFAC Issues Update on Infrastructure Modernisation Initiatives

    By Editors | 22/08/2024

    OFAC has released updated FAQs to make sanctions compliance easier and launched a new online platform for the public to submit queries.

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    Enforcement

    Latvia Extradites Citizen to Face US Charges for Russian Exports

    By Editors | 22/08/2024

    Oleg Chistyakov conspired with two US nationals to sell sophisticated avionics equipment to Russian companies, in violation of sanctions.

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    Market Infrastructure

    Transitioning to T+1 Settlement: Lessons for Asian Firms

    By Nithya Subramanian | 22/08/2024

    Asia Pacific jurisdictions are increasingly considering moving to a T+1 securities settlement cycle following the US move in May, says DTCC’s Val Wotton.

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    Sanctions

    US Sanctions Former Haitian President for Drug Trafficking

    By Editors | 21/08/2024

    OFAC said Michel Joseph Martelly facilitated the trafficking of dangerous drugs, laundered illicit drug proceeds, and sponsored criminal gangs.

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    Enforcement

    US SEC’s WhatsApp Probe is Not Yet Over – Report

    By Manesh Samtani | 21/08/2024

    Penalties still expected against companies including BlackRock, Invesco, Charles Schwab, Blackstone, Apollo Global, Moody’s and S&P Global Ratings.

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    Sanctions

    Shanghai Chip Equipment Firm Sues for Removal from US Blacklist

    By Editors | 20/08/2024

    AMEC said it has never been involved in any military-related activities and its inclusion in the US blacklist was without legal basis.

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