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Enforcement
US Regulators to Reprimand Citigroup Over Risk Management
By Editors | 16/09/2020
The Federal Reserve and OCC are expected to require Citigroup to develop and execute a plan to improve its risk management systems.
AML / KYC
DOJ Charges Three for North Korea Sanctions Breaches
By Sanday Chongo Kabange | 15/09/2020
Two North Koreans and one Malaysian allegedly used front companies to deceive US banks into processing transactions for North Korean customers.
Securities / Derivatives
Thailand’s SEC Proposed to Raise Fees on Futures Trading
By Sanday Chongo Kabange | 15/09/2020
The SEC wants to replace the annual fixed fee charged to the TFEX with a per-contract fee, which could more than triple the cost to the futures bourse.
Market Infrastructure
Bangladesh Bank Offers Assurances on Cybersecurity at Banks
By Duruthu E Chandrasekera | 14/09/2020
Bangladesh banks in facing renewed cyber threats last month, but their regulator, Bangladesh Bank, says the situation is under control.
AML / KYC
OFAC Settles Deutsche Bank Trust Sanctions Violations
By Editors | 13/09/2020
The settlement covers a large payment linked to a designated oil company and 61 payments made to a sanctioned bank in 2015.
ESG / Sustainability
CFTC Report Warns of Systemic Risks from Climate Change
By Manesh Samtani | 10/09/2020
The report calls on financial regulators to move “urgently and decisively” to measure, understand, and address the risks climate change poses to the US financial system.
AML / KYC
US Recovers $60m in 1MDB Funds from Najib Razak’s Stepson
By Editors | 06/09/2020
The assets recovered include luxury real estate in Beverly Hills, New York and London, a Kentucky maintenance company, and a 1927 promo poster for the film “Metropolis”.
Enforcement
US SEC Launches Fraud Probe into Chinese Edutech Firm
By Manesh Samtani | 06/09/2020
Reports first emerged in February alleging that up to 80% of GSX Techedu users are fake, evidenced by attendance data, server records, and admissions by former employees.
Securities / Derivatives
US SEC Stays Implementation of NYSE Direct Listing Rules
By Editors | 06/09/2020
The Council of Institutional Investors has objected to the direct listing rules on concerns that companies may circumvent investor protections built into the IPO process.
Uncategorised
New US Exchange MEMX Postpones Launch for Additional Testing
By Sanday Chongo Kabange | 03/09/2020
Wall Street-backed MEMX will begin trading in six symbols on 21 September before trading all National Market System stocks on 29 September.
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