United States

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    Capital / Liquidity

    ECB Compares EU and US Capital Requirements for Banks

    By Mark Johnston | 23/11/2024

    The ECB hasn’t yet decided whether to publish its analysis, which reportedly shows that EU banks would face significantly higher capital requirements if they were subject to US rules.

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    Sanctions

    OFAC Sanctions Six Senior Hamas Officials and Financiers

    By Editors | 22/11/2024

    OFAC said the targets facilitate terrorist activities, represent Hamas interests abroad, and coordinate transfers of money and goods into Gaza.

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    Enforcement

    Former Richmond Fed Official Pleads Guilty to Insider Trading

    By Mark Johnston | 22/11/2024

    The official used confidential information about FIs under Federal Reserve Bank of Richmond supervision to profit from stock trading.

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    Crypto / Digital Assets

    Former FTX CTO Gary Wang Sentenced, Avoids Prison Term

    By Nithya Subramanian | 21/11/2024

    Wang’s assistance had helped convict Sam Bankman-Fried. He even built a software programme to help the DOJ detect fraud in financial markets.

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    Enforcement

    Korea Extradites Russian National to US to Face Cybercrime Charges

    By Editors | 21/11/2024

    Evgenii Ptitsyn and co-conspirators developed and offered access to Phobos ransomware to enable others to encrypt victims’ data and extort ransom payments from them.

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    Enforcement

    US Court Sentences Archegos Founder to 18 Years in Jail

    By Nithya Subramanian | 21/11/2024

    Bill Hwang caused over $100bn in shareholder losses at companies in Archegos’ portfolio and $10bn in losses at banks that lent to the firm.

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    Enforcement

    OFAC Fines Individual $1.1m for Violating Iran Sanctions

    By Editors | 21/11/2024

    The violations related to the individual’s use of an IVTS to remit funds to Iran to purchase, renovate, and operate a hotel.

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    ESG / Sustainability

    BCBS Postpones Climate Risk Disclosure Framework for Banks

    By Thisanka Siripala | 21/11/2024

    The BCBS has been unable to finalise the Pillar 3 disclosure framework for climate-related financial risks because the US refuses to endorse it.

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    Fintech / Regtech

    EU and Singapore Strengthen Cooperation on AI Safety

    By Nithya Subramanian | 21/11/2024

    The US also launched the “International Network of AI Safety Institutes” to drive alignment and encourage safe, secure, and trustworthy AI innovation around the world.

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    Enforcement

    US Authorities Charge Billionaire Gautam Adani for Bribery, Fraud

    By Nithya Subramanian | 21/11/2024

    The SEC also filed a complaint saying Adani induced US investors to buy $175mn in bonds by misrepresenting an aversion to paying bribes.

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