Events listed in United States
CFTC Approves Technical Corrections to Swap Dealer Regulations
ID 21581
The U.S. Commodity Futures Trading Commission (CFTC) has published a press statement to announce upcoming changes to Statutory Instrument 17 CFR Part 23 which is the key legislation governing swap dealers (SDs) and major swap counterparties (MSPs) as regards registration, capital and margin, reporting, and recordkeeping requirements, to name a few. The modifications, so the CFTC, are technical, non-substantive in nature and include the ...
SEC Proposes Rule to Prohibit Conflicts of Interest in Certain Securitizations
ID 21563
The U.S. Securities and Exchange Commission, SEC, has published a press statement to announce an upcoming consultation on proposed enhancements to the conflicts of interest requirements pertaining to securitizations. Specifically, the Commission seeks to implement a new rule under the Securities Act of 1933, namely 17 CFR Part 230 § 230.192, to prohibit sponsors, underwriters, placement agents, or initial purchasers of securitizations (securitization participants) ...
Counter Terrorism Designations
ID 21557
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added three individuals and three entities to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (31 CFR Part 594 and Executive Order 13224) for their engagement in the facilitation of financial activities for the terrorist organization ...
Iran-related Designations and Designation Update; Non-Proliferation Designation ...
ID 21542
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added several individuals to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (Executive Order 13553) for their engagement in the Iran’s Islamic Revolutionary Guard Corps (IRGC) which is responsible for the brutal suppression of Iranian people ...
Financial Crimes Enforcement Network; Inflation Adjustment of Civil Monetary ...
ID 21523
The Financial Crimes Enforcement Network (FinCEN) has published in the Federal Register its updated civil monetary penalties which are due in case of failing to comply with U.S. anti money laundering (AML) and counter financing of terrorism (CFT) regulations. The update is mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990 and represents the increase in the *Consumer Price Index for all ...
Branches and Relocations: Revised Comptroller’s Licensing Manual Booklet
ID 21520
The Office of the Comptroller of the Currency, OCC, has published an updated version of its Licensing Manual: Branches and Relocations. The Manual sets out the notification and application requirements of (foreign) national banks and savings associations seeking to relocate or establish a branch or to move a head office to a different location. The Manual thereby describes the – content, form, and timing ...
Counter Terrorism Designation Removal
ID 21514
The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, the Office has removed three individuals (or rather three names) from its Specially Designated Nationals and Blocked Persons List (SDN List) that were previously sanctioned for their engagement in global terrorism pursuant to Statutory Instrument 31 CFR Part 594, the Global Terrorism Sanctions Regulations. Accordingly, the ...
FinCEN Identifies Virtual Currency Exchange Bitzlato as a “Primary Money Laundering ...
ID 21503
The Financial Crimes Enforcement Network (FinCEN) has published a press statement to announce the first ever designation of a financial institution as a „primary money laundering concern in connection with Russian illicit finance“ under the National Defense Authorization Act. Specifically, FinCEN has issued an order to designate the virtual currency exchange Bitzlato Limited (Bitzlato) incorporated in Hong Kong as such „primary money laundering concern“ ...
Regulatory Notice 23-02
ID 21497
The Financial Industry Regulatory Authority, FINRA, has published new Regulatory Notice 23-02 to announce final modifications to its Rule 2231 pertaining to customer account statements which includes requirements on the content, frequency, and form of account statements that must be sent to clients on a regular basis. Specifically, FINRA is amending this Rule to align it with a similar Rule applicable only to FINRA ...
Issuance of Russia-related General Licenses and Amended Russia-related Frequently ...
ID 21493
The Office of Foreign Assets Control (OFAC) has published a press release to announce the issuance of three new Russia-related general licenses and the modification of several Russia-related frequently asked questions (FAQs), all in connection with prohibitions stipulated in Executive Order 14024, Executive Order 14071, and Statutory Instrument 31 CFR Part 587, the „Russian Harmful Foreign Activities Sanctions Regulations“. Below, you’ll find a brief ...