Regulatory Updates
SEC Charges 26 Financial Firms $392 Million for Widespread Recordkeeping Failures
On 14 August, 2024, the Securities and Exchange Commission (SEC) announced a landmark enforcement action against 26 broker-dealers, investment...
Nasdaq ISE Withdraws Proposals to Trade Bitcoin and Ether Trust Options Following Extensive SEC Deliberations
On 14 August, 2024, the Securities and Exchange Commission (SEC) Chairman Gary Gensler released a statement highlighting the growing influence of...
CFTC Orders Major Penalties for Recordkeeping, Supervision, and Communication Failures at Truist Bank, TD Bank, and Cowen
On 14 August, 2024, the Commodity Futures Trading Commission (CFTC) levied significant penalties on three prominent financial institutions—Truist...
US SEC and Latvijas Banka Join Forces to Strengthen Virtual Asset Oversight
On 13 August, 2024, in a significant step towards enhancing the security and resilience of the digital asset sphere, the United States and Latvia...
ASIC’s 2024 Financial Advice Update Highlights Compliance, Cybersecurity, Ethical Practices, and Investor Protection
On 9 August 2024, the Australian Securities and Investments Commission (ASIC) released it’s financial advice update that discusses the importance of...
Korea Fintech Week 2024: Pioneering the Future of Finance with AI and Global Innovation
On July 25, 2024, the Financial Services Commission (FSC) officially announced the schedule for this year’s highly anticipated Korea Fintech Week,...
RBI Deputy Governor Highlights Impact of CBDCs on Deposit Insurance at Asia Pacific Conference
On August 13, 2024, in a compelling address at the International Association of Deposit Insurers (IADI) Asia Pacific Regional Committee (APRC)...
CFTC Penalizes Texas Firm $100,000 for Unregistered Broker Activities
On August 12, 2024, the Commodity Futures Trading Commission (CFTC) imposed a $100,000 fine on Cost Management Solutions, LLC (CMS), a Texas-based...
SEC Charges OTC Link LLC with Failing to Report Suspicious Transactions, Imposes $1.19 Million Penalty
On August 12, 2024, the Securities and Exchange Commission (SEC) took decisive action against OTC Link LLC, a New York-based broker-dealer, for...
Bahamas Pioneers New Digital Asset Regulations: DARE Act 2024 Takes Effect
On 26 July 2024, the Securities Commission of the Bahamas (SCB) announced the Digital Assets and Registered Exchanges Act, 2024 (DARE Act) which...
IRS Unveils Draft of New Digital Asset Reporting Form: Major Step Toward Compliance
On August 9, 2024, the Internal Revenue Service (IRS) released an early draft of the much-anticipated Form 1099-DA, a new tool designed to...
Singapore Tightens Regulation of Fund Management Companies, Imposes Licensing Requirements & Enhanced AML-CFT Compliance
On 1 August 2024, the Monetary Authority of Singapore (MAS) introduced its Guidelines on Licensing and Conduct of Business for Fund Management...