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AML / KYC
OFAC Fines Crypto Firm Kraken for Iran Sanctions Violations
By Editors | 30/11/2022
Kraken was facing a maximum fine of over $272mn. The $362,000 settlement reflects OFAC’s determination the violations were “non-egregious and voluntarily self-disclosed”.
Crypto / Digital Assets
Crypto Lender BlockFi Follows FTX Into Bankruptcy
By Editors | 29/11/2022
BlockFi said its liquidity crisis was due to its exposure to FTX as well as cryptocurrencies held on FTX’s platform that became trapped.
AML / KYC
DOJ Charges Two for Fraud Involving Fake Crypto Mining Operation
By Editors | 28/11/2022
Two Estonians induced victims to enter into “fraudulent equipment rental contracts” and to invest in a fake digital currency bank.
ESG / Sustainability
Law Change Needed to Protect ESG Rules for US Pension Plans
By ESG Investor | 25/11/2022
ERISA pensions are now permitted to incorporate material ESG factors into their investment and voting decisions.
Capital / Liquidity
US Federal Agencies Find Shortcoming in Citigroup Resolution Plan
By Editors | 24/11/2022
The agencies said the shortcoming raises questions about the bank’s ability to produce accurate financial information during stress conditions and could undermine its resolution plan.
Enforcement
US SEC Fines Goldman Unit For Not Following ESG Policies
By Editors | 24/11/2022
Goldman Sachs Asset Management had policies and procedures failures involving the ESG research its investment teams used to select and monitor securities.
Fintech / Regtech
ISDA Launches Digital Regulatory Reporting 1.0
By Editors | 23/11/2022
The DRR is now available to market participants in full production mode to support compliance with the CFTC’s amended swap data reporting rules.
Press Release
Regulation Asia Awards for Excellence 2022 – Results Announcement
By Editors | 23/11/2022
Regulation Asia held its fifth annual Awards ceremony on 22 November 2022. Here we explain our methodology and announce the winners for the year.
Enforcement
US Court Sentences Theranos Founder Elizabeth Homes to Jail
By Editors | 21/11/2022
A California court sentenced Elizabeth Holmes to 11 years and three months in prison. She will also be required to pay restitution to investors.
AML / KYC
Western Allies Sanction Iran Over Protest Handling, Drone Sales
By Editors | 18/11/2022
The EU, UK, US and Canada imposed sanctions over the use of use of force against peaceful protestors and the sale of drones to Russia.
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