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PEPs & Sanctions
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.
Anti-Money Laundering
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.
Conduct, Culture & Accountability
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 Adequacy
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.
Market Abuse
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.
Clearing & Post-Trade
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.
Market Abuse
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.
Trading & Investment
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.
Trading & Investment
US Launches Three New Exchanges, Including MEMX
By Sanday Chongo Kabange | 24/09/2020
Long-Term Stock Exchange (LTSE) launched on 17 September; Members Exchange (MEMX) on 21 September; MIAX Pearl will launch on 25 September.
Market Abuse
Sri Lanka SEC to Procure New Surveillance System
By Duruthu E Chandrasekera | 24/09/2020
The SEC is planning to hire a consultant to assess its existing surveillance system and make recommendations on procuring a new system.
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