Topic: Financial crime investigations

The new CEO of stricken crypto exchange FTX has described an “utter lack of record keeping and no internal controls whatsoever” at the company ahead of its bankruptcy, saying regulatory attention on the sector in future would have to focus on transparency and the separation of customer funds.

19 December 2022

CFTC chair Rostin Behnam has defended his agency’s handling of the FTX debacle before the US senate, calling on it to grant him the statutory authority to oversee crypto firms he said would have averted the collapse.

06 December 2022

New Jersey’s securities regulator has agreed to settle a long-running claim against three Credit Suisse entities over the sale of residential mortgage-backed securities, resolving what the bank says is the largest of the RMBS-related exposures on its docket.

26 October 2022

Katten Muchin Rosenman regulatory partner Neil Robson advises on how to create a tailored and focused anti-bribery policy that’s more than just a box-ticking exercise.

22 September 2022

Germany will create a new regulator to tackle money laundering and other financial crime, as a report from the Financial Action Task Force says the world’s fourth-biggest economy needs to be more proactive in its AML efforts.

25 August 2022

Industry bodies have complained the Financial Action Task Force’s plans to tighten rules around beneficial ownership of trusts are too “truncated” to properly tackle the matter.

04 August 2022

The US Federal Reserve’s watchdog has said that chair Jerome Powell and former vice-chair Richard Clarida did not violate any laws during a 2020 trading scandal.

18 July 2022

A long-standing class action against Deutsche Bank and NatWest over allegations of a conspiracy to fix Swiss franc Libor is set to conclude, as a New York federal court approves a settlement in a class action lawsuit revolving around LIBOR manipulation scandals.

06 July 2022

Australia’s securities regulator has completed one of the final pieces of litigation to come out of the Royal Commission on misconduct.

09 February 2022

The United States’ Financial Crimes Enforcement Network has called on banks to share data on suspicious financial activity with their foreign branches, something that industry players have so far welcomed.

27 January 2022