United States

Reporting & Disclosures

Goldman Sachs Withdraws from Net-Zero Banking Alliance

By Thisanka Siripala | 11/12/2024

The bank said it will continue to advance its net zero goals and that its priorities remain to help clients achieve their sustainability goals.

Cryptocurrency

FDIC Blocked Banks from Servicing Crypto Firms Throughout 2022

By Thisanka Siripala | 10/12/2024

Coinbase obtained FDIC letters showing that the regulator prevented banks from engaging in crypto-related activities throughout 2022.

PEPs & Sanctions

UK, US Issue Sanctions for Illicit Gold Trading, Human Rights Abuses

By Editors | 10/12/2024

The dozens of sanctions targets include a British-Kenyan businessman who ran a global gold smuggling and money laundering network in Zimbabwe.

Payments & Settlements

Sifma Releases Findings from Regulated Settlement Network PoC

By Editors | 09/12/2024

The findings demonstrated the potential of shared ledger technology to settle tokenised money and securities and address current inefficiencies and operational risks.

Emerging Prudential Risks

Korean Securities Firms Asked to Prepare for Market Shocks

By Manesh Samtani | 08/12/2024

BOK promised “unlimited” liquidity. FSS met with 36 securities firms. FSC activated stabilisation funds. VASP operations impacted.

AI Risk & Governance

CFTC Issues Advisory on Use of AI by Regulated Entities

By Nithya Subramanian | 06/12/2024

The advisory is intended to remind market participants of their regulatory obligations as they begin to develop and implement AI.

Anti-Bribery & Corruption

DOJ Settles With McKinsey Over South Africa Bribery Scheme

By Nithya Subramanian | 06/12/2024

McKinsey will pay $122mn to resolve an investigation into bribes paid to South African officials to secure lucrative consulting contracts.

PEPs & Sanctions

China Sanctions 13 US Military Firms & Six Executives

By Editors | 06/12/2024

The sanctions, imposed under China’s Anti–Foreign Sanctions Law, are a response to a recent announcement of US arms sales to Taiwan.

Anti-Money Laundering

Canada’s FINTRAC Signs AML/CFT MoU with US Regulators

By Thisanka Siripala | 06/12/2024

The MoU will facilitate information exchange, best practice sharing, and coordination on illicit finance risks that affect both the Canadian and US financial systems.