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United States
Enforcement
CFTC Fines Three Major FIs for Swap Reporting and Other Violations
By Mark Johnston | 03/10/2023
Affiliates of Goldman Sachs, JP Morgan, and Bank of America were fined a total $53mn for violating rules for swap dealers.
Capital / Liquidity
US, Korea to Cooperate on Risk Monitoring, Resolution Planning
By Sanday Chongo Kabange | 02/10/2023
The FDIC and KDIC will cooperate on risk monitoring, crisis management and resolution planning for FIs with operations in both countries.
Enforcement
Former Goldman Analyst, Three Others Charged for Insider Trading
By Mark Johnston | 02/10/2023
The former analyst tipped his friends to impending M&A deals. Together they made over $460,000 from trading on nonpublic information.
Big Picture
Fed Report Assesses Financial Stability Risks of Stablecoins
By Mark Johnston | 01/10/2023
In a separate note, JP Morgan says the Fed’s decision to prevent stablecoins from accessing its overnight facilities could risk disruption in funding markets.
Enforcement
US Regulators Penalise Shinhan Bank for AML Violations
By Mark Johnston | 01/10/2023
The US subsidiary of South Korea’s Shinhan Bank will pay a USD 15 million penalty to settle cases from FinCEN, the FDIC, and NYDFS.
Enforcement
US Regulators Fine 12 More Entities in WhatsApp Probe
By Editors | 29/09/2023
The latest penalties target broker-dealers, their investment advisory businesses, as well as two credit rating agencies.
Securities / Derivatives
HKEX Allows Saudi Companies to Apply for Secondary Listings in Hong Kong
By Editors | 29/09/2023
Companies with a primary listing on the Saudi Exchange’s Main Market can apply for a secondary listing in Hong Kong.
Enforcement
Citigroup Fined for Violating Disclosure Obligations Under Reg BI
By Editors | 29/09/2023
Citi defaulted about 360,000 accounts to receive disclosures electronically without receiving proper consent from the customers.
Crypto / Digital Assets
US Lawmakers Introduce Bill on Custody of Digital Assets
By Editors | 28/09/2023
The Uniform Treatment of Custodial Assets Act would rescind an SEC accounting bulletin that prevents banks from providing custodial services to digital assets investors.
Securities / Derivatives
Philippine SEC Eases Disclosure Rules for Public Offerings
By Mark Johnston | 28/09/2023
The “streamlined procedures” are part of the SEC’s efforts to encourage more companies to tap the capital markets.
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