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United States
Operational Risk
FDIC to Pursue Legal Action Against 17 Former SVB Executives
By Editors | 19/12/2024
Chairman Martin Gruenberg said the executives breached their duties by mismanaging Silicon Valley Bank’s securities portfolios.
PEPs & Sanctions
OFAC Sanctions Two for Funnelling Illicit Proceeds to North Korea
By Editors | 18/12/2024
The two individuals are part of a network led by Sim Hyon Sop, a sanctioned China-based banking representative who helps North Korea launder money.
PEPs & Sanctions
OFAC Sanctions 20 Targets Linked to Global Drug Trafficking
By Editors | 18/12/2024
The sanctions targets, located across seven countries, include Australian David Thackray and New Zealander Ho Kai Leung.
PEPs & Sanctions
US Issues New Sanctions Targeting Military Support to DPRK
By Editors | 17/12/2024
The sanctions targets include banks, financial representatives, generals, officials and foreign trade companies involved in Russia-DPRK oil trade.
Market Abuse
US SEC Fines Cantor Fitzgerald Over Misleading SPAC Disclosures
By Editors | 16/12/2024
Cantor Fitzgerald failed to disclose that it had already commenced negotiations with merger targets for two SPACs prior to their IPOs.
PEPs & Sanctions
US Sanctions Eight Firms for Enabling Human Rights Violations
By Editors | 16/12/2024
Commerce Dept said two Chinese targets enabled human rights violations and four others supplied parts and components to Myanmar’s military.
Resolution & Recovery
AllianceBernstein to Sue Switzerland Over Credit Suisse AT1 Writedown
By Editors | 16/12/2024
AllianceBernstein will be the first large institutional investor to sue Switzerland over its decision to write down Credit Suisse’s AT1 bonds last year.
PEPs & Sanctions
OFAC Fines Global Logistics Firm for Sanctions Violations
By Editors | 16/12/2024
The violations of Cuba and Iran sanctions were committed by subsidiaries based in China, Spain, Canada, Australia and Peru.
PEPs & Sanctions
US Considers New Sanctions Targeting Russian Oil Exports
By Editors | 15/12/2024
The new sanctions would potentially target foreign buyers of Russian crude oil and more of the vessels used for shipments.
Anti-Money Laundering
US Authorities Arrest Former TD Bank Employee for Money Laundering
By Thisanka Siripala | 13/12/2024
The ex-employee allegedly issued debit cards from Florida that were used to withdraw narcotics proceeds through ATMs in Colombia.
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