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Enforcement
CFTC Fines Morgan Stanley Over Inaccurate Swaps Reporting
By Editors | 06/10/2020
Morgan Stanley’s cooperation with the CFTC investigation was rewarded with a reduced civil monetary penalty of $5mn.
Market Infrastructure
ISDA Receives Positive Business Review Letter from DOJ
By Manesh Samtani | 05/10/2020
The letter brings ISDA a step closer to publishing a supplement and related protocol that will make IBOR fallbacks in derivatives a reality.
AML / KYC
Ransomware Payments May Breach OFAC Regulations
By Sanday Chongo Kabange | 03/10/2020
OFAC makes clear in a new advisory that it may impose civil penalties if ransomware payments are made to sanctioned individuals or entities.
AML / KYC
BitMEX Founders Charged for Evading AML Requirements
By Editors | 03/10/2020
Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.
Enforcement
CFTC Settles Charges Against Citi Over Deleted Audio Recordings
By Editors | 01/10/2020
Citi’s audio preservation system deleted more than 2.77 million audio files, including recordings that were subject to a December 2017 CFTC subpoena.
Capital / Liquidity
Fed Extends Restrictions on Bank Dividends, Share Buybacks
By Editors | 01/10/2020
Banks with more than $100bn in total assets are not allowed to initiate new share buyback programmes and dividends are capped based on recent income.
Enforcement
US Authorities Settle JP Morgan Spoofing Charges for $920m
By Editors | 01/10/2020
The settlement will fully resolve investigations carried out by the DOJ, CFTC and SEC into trades made over nearly ten years.
Securities / Derivatives
DTCC Outlines Steps to Fully Dematerialise US Securities Market
By Editors | 01/10/2020
DTCC believes that the industry can achieve full dematerialisation of over 98 percent of all US physical certificates in the next three years.
Enforcement
Two Ex-Deutsche Traders Convicted in Spoofing Case
By Sanday Chongo Kabange | 29/09/2020
The two former traders were found guilty of fraud charges for their respective roles in manipulating gold and silver futures prices.
Securities / Derivatives
CSRC Approves Four ETFs Tracking New SSE STAR 50 Index
By Editors | 26/09/2020
China Asset Management, E Fund Management, Huatai-PineBridge Fund Management and ICBC Credit Suisse Asset Management received approval.
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