United States

Enforcement

US Cities Obtain Green Light to Pursue Class Action Against Eight Banks

By Editors | 24/09/2023

Eight US banks are accused of conspiring to artificially inflate the interest rates on debt securities between 2008 and 2016.

Enforcement

OFAC Penalises 3M and Emigrant Bank for Iran Sanctions Violations

By Editors | 24/09/2023

3M agreed to pay $9.6mn for shipments destined for a customer in Iran. Emigrant Bank agreed to pay about $32,000 for processing transactions for two Iranian residents.

Enforcement

SEC Fines Goldman for Submitting Inaccurate Securities Trading Data

By Sanday Chongo Kabange | 24/09/2023

Goldman Sachs has agreed to USD 6 million for submitting deficient submissions that included missing or inaccurate trade data for at least 163 million transactions.

Sanctions

US Sanctions Entities Linked to Iranian Drone Production

By Editors | 23/09/2023

The sanctions target entities in Iran, China, Russia, and Turkey for aiding the production, maintenance, and procurement of drones and military aircraft by Iran.

Crypto / Digital Assets

Thai Digital Assets Exchange Set to Launch First Investment Token

By Editors | 22/09/2023

The investment token is backed by three Bangkok luxury condominium projects. The ICO raised about THB 2.4 billion (USD 67 million).

Securities / Derivatives

US SEC Adopts Amendments to Fund Naming Rules

By Editors | 21/09/2023

The new rules will help ensure that a fund’s portfolio aligns with a fund’s name and help to better protect investors, said SEC chair Gary Gensler.

Securities / Derivatives

Sri Lanka SEC Calls on Stockbroking Firms to Improve Governance

By Duruthu E Chandrasekera | 20/09/2023

SEC chairman asked brokerage firms to improve their understanding of compliance requirements and invest more in technology and infrastructure.

Four Jurisdictions “Slow” on Approvals for UBS-Credit Suisse Merger

By Editors | 20/09/2023

Internal UBS document says uncooperative regulators could jeopardise the timeline of the merger as well as other related transactions.

Crypto / Digital Assets

NYDFS Proposes Enhanced Requirements for Crypto Token Listings

By Manesh Samtani | 20/09/2023

Licensees will have to board-approved policies for listing and delisting coins. NYDFS asks firms to start drafting their coin-delisting policies now.