12th July 2019
AP — The Trump administration imposed sanctions Thursday on Venezuela’s military intelligence agency, which is accused of torturing to death a navy captain in its custody. The latest move by the U.S. Treasury Department to pressure President Nicolás Maduro from power followed another round of negotiations in Barbados between Maduro’s… Read More
12th July 2019
British banks hold enough capital to cope with a no-deal Brexit and a global trade war simultaneously, the Bank of England said on Thursday, although a disruptive Brexit would still cause major turbulence for financial markets and the economy. Bank of England Governor Mark Carney also flagged ongoing concerns about… Read More
11th July 2019
U.S. Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook’s (FB.O) plan to build a digital currency called Libra “cannot go forward” until serious concerns are addressed, comments that pressured the project and dented the price of the original cryptocurrency bitcoin. The strong comments from the most… Read More
11th July 2019
The U.K’s Financial Conduct Authority issued the largest total amount in fines against individuals during the 2019 fiscal year, the regulator said in its annual report published Tuesday. The FCA imposed £80.2 million in fines against eight individuals during the fiscal year ending March 31, compared with about £900,000 in… Read More
10th July 2019
The U.S. Treasury added three top Hezbollah figures to its list of sanctioned individuals on Tuesday, including two members of the Lebanese Parliament and a security official responsible for coordinating between Hezbollah and Lebanon’s security agencies. The designations were part of U.S. efforts to counter the Iranian-backed Hezbollah’s “corrupting influence… Read More
9th July 2019
The U.S. Securities and Exchange Commission (SEC) on Monday issued a notice on broker-dealer custody of digital asset securities, amid industry requests for clarity on whether they can hold such assets under federal securities laws. The SEC’s statement, issued in conjunction with the general counsel of the Financial Industry Regulatory… Read More
8th July 2019
The head of Latvia’s bank watchdog is to step down following a move by the country’s parliament to reform the finance industry regulator as part of efforts to combat money laundering. Latvia is under pressure to clean up its banking sector after series of scandals. Moneyval, the money laundering and… Read More
8th July 2019
In May, the US Office of Foreign Assets Control (OFAC) published “A Framework for OFAC Compliance Commitments” (“Framework document”). This document consists of two separable parts, the first of which lays out five “essential components of compliance” that OFAC believes should form the basis for a sanctions compliance program (SCP)… Read More
4th July 2019
AP — The United States hit Cuba’s state-run oil shipping firm Cubametales with financial sanctions on Wednesday, saying it’s a key player propping up Venezuela’s President Nicolás Maduro. “Maduro is clinging to Cuba to stay in power, buying military and intelligence operatives in exchange for oil,” U.S. Treasury Secretary… Read More
3rd July 2019
European Union leaders agreed on Tuesday to name France’s Christine Lagarde as the new head of the European Central Bank and sealed a deal on filling the EU’s other top four jobs after marathon talks that have exposed deep divisions in the bloc. Three days of summit negotiations that at… Read More