FinCEN to Delete Ownership Info on U.S. Companies from CTA Registry
FinCEN Files investigation revealed how U.S. banks helped move illicit money worldwide, U.S. authorities are rolling back key reforms enacted in its aftermath, sparking alarm among transparency advocates.
HK Regulator Bans Ex-Citi Asia Equities Head for Poor Compliance
Hong Kong has banned Richard Charles Heyes, Citigroup’s former head of pan-Asia equities, from re-entering the financial industry for five years after finding him liable for regulatory breaches.
France Weighs Blocking Some ‘Passported’ Licenses for Crypto Firms
France has warned it may challenge the right of some crypto companies licensed elsewhere in the European Union to operate domestically, stepping up pressure for stricter oversight of the industry.
Citing Competition, Swiss Lawmakers Push Back on Proposed AML Law
Swiss lawmakers are seeking to dilute key government proposals aimed at combating financial crime, arguing that stricter regulations threaten the country’s dominance in the global wealth management sector, according to Reuters.
Fed Terminates AML Order against SMBC
The Federal Reserve terminated a 2019 enforcement action against Sumitomo Mitsui Banking Corp. (SMBC), concluding a six-year period of heightened scrutiny over the institution’s anti-money laundering (AML) practices.
SEC Closes Swedbank AML Inquiry without Penalty
The U.S. Securities and Exchange Commission has officially closed its 6-year investigation into Swedbank’s anti-money laundering (AML) efforts without imposing an enforcement action.
JPMorgan to Pay $330 Million to Resolve 1MDB Case in Malaysia
JPMorgan Chase will pay $330 million to the government of Malaysia to settle claims that it facilitated the processing of $800 million in fraudulent transactions linked to the looting of Malaysia’s sovereign wealth fund, 1MDB.