United States

PEPs & Sanctions

US DOJ Approves First Transfer of Seized Russian Funds to Ukraine

By Editors | 15/05/2023

“While this represents the United States’ first transfer of forfeited Russian funds for the rebuilding of Ukraine, it will not be the last,” said Attorney General Merrick Garland.

Resolution & Recovery

FDIC to Charge Banks $16bn to Recover SVB, Signature Losses

By Manesh Samtani | 14/05/2023

The FDIC proposes to require lenders with more than $50bn in assets to cover 95% of the losses associated with the SVB and Signature Bank failures.

Market Abuse

CFTC Fines HSBC for “Deceptive Trading”, WhatsApp Use

By Editors | 14/05/2023

The CFTC fined three HSBC affiliates a total $75m for manipulative and deceptive trading, spoofing, and supervision and record-keeping failures.

Sustainable Finance

Philippine SEC Adopts ASEAN SRF Standards

By Sanday Chongo Kabange | 14/05/2023

Rules are established to enable local and ASEAN-member investment companies and CIS operators to offer sustainable and responsible funds locally and across the region.

Anti-Bribery & Corruption

US SEC Fines Philips for Corrupt Practices in China

By Editors | 14/05/2023

Dutch medical supplier engaged in “improper” conduct and bidding practices to sell its medical technology products in China.

Liquidity Risk

California Regulator Concludes Reviews into SVB Failure

By Editors | 13/05/2023

In the years leading up to SVB’s failure, DPFI identified deficiencies at the bank, but “did not take adequate steps” to ensure they were resolved quickly.

Cryptocurrency

Jane Street, Jump Crypto to Scale Down US Crypto Business

By Editors | 13/05/2023

Jane Street Group and Jump Crypto are the latest firms to scale down US operations, citing regulatory uncertainty.

Conduct, Culture & Accountability

NYDFS Proposes Guidance on ‘Character and Fitness’ Reviews

By Editors | 13/05/2023

Superintendent Adrienne Harris said character and fitness standards have become a “policy priority” in light of “recent events” in the industry.

Capital Adequacy

Fed Official Calls for Banking Reforms to be “Targeted” and “Thoughtful”

By Mark Johnston | 12/05/2023

Michelle Bowman urges targeted and evidence-based reforms to address the root causes of the recent spate of bank failures.