United States

Anti-Money Laundering

APG Re-rates Sri Lanka on One FATF Recommendation

By Editors | 11/11/2021

Sri Lanka extended its foreign exchange declaration requirements to include the full range of bearer negotiable instruments, in line with Recommendation 32.

Emerging Prudential Risks

Fed Warns of Spillover Risk from China Property Markets

By Editors | 09/11/2021

Financial stresses in China could strain global financial markets and affect the US, the Federal Reserve says in its financial stability report.

Fraud, Scams & Cybercrime

US Treasury Announces New Ransomware-related Sanctions

By Manesh Samtani | 09/11/2021

The US Treasury Department, OFAC, State Department, DOJ, and FinCEN have taken coordinated action to counter the ransomware threat.

Structural Regulation

SEC Approves PCAOB Framework for HFCAA Determinations

By Editors | 07/11/2021

The framework sets out how the PCAOB will determine that it is unable to inspect the foreign audit firm of a US listed company and force a delisting.

Structural Regulation

Philippines Streamlines Bank Merger Application Processes

By Editors | 07/11/2021

A five agency agreement will see documentary requirements cut in half and total processing times reduced from 160 to 55 business days.

Stablecoins

US Regulators Call for Powers to Regulate Stablecoins

By Sanday Chongo Kabange | 02/11/2021

US regulators are calling for the enactment of legislation to ensure that stablecoin issuers are insured and subject to appropriate supervision and regulation.

Sustainable Finance

BSP Directs Banks to Integrate Environmental, Social Risks

By Editors | 31/10/2021

Banks have to integrate environmental and social risk in their risk management frameworks and when defining their credit strategy.

Cybersecurity

US Agencies Probe Chinese Payment Terminal Maker PAX

By Manesh Samtani | 28/10/2021

PAX Global Technology is reportedly under investigation over allegations from a US payment processor that its terminals are being used to stage cyberattacks.

Trading & Investment

US SEC Publishes Findings from Meme Stock Review

By Editors | 26/10/2021

SEC staff concluded that US markets functioned well and dislocations caused by short-selling were not the main cause of the extreme volatility in GameStop.