The Compliance Updater

A summary of key compliance stories around the globe in July. Crypto fund’s ETF application rejected by SEC. EU finalises regulations for crypto assets trading. Credit Suisse facing huge Asia backlog over source of wealthy clients’ funds. Legal battle over...

FCA puts Credit Suisse on watchlist. Claim filed against Woodford fund. Elliott Management claims $456m from LME over cancelled nickel trades. BoE orders banks to improve plans to “fail safely”. JPMorgan wins “fraud” case against Nigeria. Bankers lose jobs over...

US regulator looking at retail sales practices for “complex products”. Wirecard administrator chasing recovery of dividends and tax. Allianz settles for $5.8bn over US securities fraud. ECB demands big investment banks address “empty shell” desk issue. BNY Mellon fined by...

Steelworkers pension redress plan proposed by FCA. US SEC proposes tightening of SPAC requirements. Dubai launches Virtual Asset Regulatory Authority. Tokio Marine says Greensill insurance cover was gained by fraud. FCA outlines strategy for the next three years. Banks worry...

Two US billionaires investigated over possible insider dealing. Braun charged with fraud over Wirecard. UK and EU accelerate sanctions against Russia. Covid Bounce Back Loan fraud estimates revealed. Only a quarter of crypto firms currently meet FCA requirements. Economic Crime...

UK Office of Financial Sanctions Implementation stats. Credit Suisse facing criminal charges over mafia drug money. US DoJ confiscates $3.6bn in cryptocurrency stolen in Hong Kong hack. FCA orders deletion of paid-for influencer posts. FCA “dear CEO” re Russian cyber...

Ex-Swedbank CEO charged with fraud and market manipulation. Lawyers Mishcon de Reya fined for money laundering failings. UK’s FCA to review cost of market data. UK’s PRA concerned over cloud reliance. FCA set to regulate digital currency adverts. Two former...

Listing rules changes take effect in the UK. Dubai DFSA fines manager of REIT over “misleading statements”. FCA launches second consultation on consumer duty. Deutsche Bank fined €8.7m by BaFin for rate-rigging prevention control failings. EU fines four banks for...

Barclays CEO steps down over links to Epstein. Basel III banking standards implementation to be delayed. Grant Thornton fined over audit failures at Interserve. FCA begins to act against ‘greenwashing’. London attracts its first SPAC after rules reform. UK plans...

Ex-Union Investment fund manager faces three-and-a-half years in jail. Six Swiss bankers accused by US of aiding $60m tax evasion. Wise CEO tax breach could bring FCA sanction. NatWest admits to AML failings over Bradford gold dealer. Swiss police seize...

Theranos founder on trial in the US. WhatsApp fined €225m for GDPR breaches. FCA chair calls for more powers over crypto. Britain considering ditching EU data rule on AI. Dear CEO from FCA re trade finance. FCA director says UK...

A summary of key compliance stories around the globe in August.