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United States
US Ban on Non-Competes Has Financial Industry Worried
By Manesh Samtani | 29/04/2024
The FTC announced a ban on non-compete clauses last week, prompting concerns over employee lawsuits and theft of trade secrets.
Sanctions
OFAC Extends Authorisation for Russia-related Energy Transactions
By Editors | 29/04/2024
The general licence authorises energy-related transactions with nine Russian banks and the central bank. It was scheduled to expire on 1 May 2024.
Crypto / Digital Assets
Crypto Software Firm Consensys Files Suit Against US SEC
By Nithya Subramanian | 29/04/2024
Consensys has asked a federal court to declare that Ethereum is not a security, and therefore outside the SEC’s jurisdiction.
Capital / Liquidity
FDIC Seizes and Sells Republic First Bancorp in Latest Rescue
By Editors | 29/04/2024
The bank ran into trouble in early 2023 due to high cost pressures, a decline in deposits, a struggling mortgage lending business, and an inability to improve profitability.
AML / KYC
US DOJ Charges Founders of Crypto Mixer “Samourai Wallet”
By Editors | 27/04/2024
Over around ten years, Samourai Wallet was used to launder over $100mn in crime proceeds, earning the founders at least $4mn in fees.
Sanctions
US, UK, Canada Announces More Sanctions for Iran’s Airstrike
By Editors | 26/04/2024
The US targeted 16 entities, eight individuals, five vessels and one aircraft. The UK and Canada also sanctioned targets involved in Iran’s drone and missile industries.
Enforcement
DOJ Charges Two Chinese Nationals for IEEPA Violations
By Editors | 26/04/2024
The two individuals (one arrested) conspired to evade export controls to obtain US chip-making technology for a prohibited Chinese company.
Sanctions
US, Japan, Korea to Collaborate on Technology Export Controls
By Editors | 26/04/2024
The launch of the “Disruptive Technology Protection Network” comes amid US calls for Japan and Korea to tighten controls on chip-related exports to China.
Sanctions
US President Signs National Security Package Into Law
By Editors | 25/04/2024
Among other things, the package broadens sanctions on Iran, allows confiscation of Russian assets, and requires TikTok to separate from ByteDance.
Enforcement
US SEC Asks Court to Force Terraform Labs and Founder to Pay $5.3b
By Mark Johnston | 25/04/2024
The SEC argues that Terraform Labs and Do Kwon have not shown remorse for their conduct and are likely to commit additional violations.
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