The Serious fraud Investigation office (SFIO) has shot off notices to all broking firms whose clients traded in commodity pair contracts on the National Spot Exchange. The brokers have been asked to furnish their books of accounts, a source told Moneycontrol. Read More

The Panama Papers scandal of 2016 led to the leaked individuals' names and associations being scrutinized by governments in the UK, Germany, France, Italy, Spain and Australia among others, which is unsurprising given that the financial services industry is in the midst of preparing for new stricter regulation to commence. The Common Reporting Standards regulation, The Fourth Money Laundering Directive, the Foreign Account Tax Compliance Act and Financial Action Task Force recommendations on money laundering that have been proposed and enacted in Europe and the US are intended to strengthen the anti-money laundering (AML) regulatory environment and increase pressure on institutions to comply. Read More

US prosecutors accused three former London currency traders of arranging a "conspiracy" to rig the foreign exchange markets. Read More

Republicans on Wednesday passed a bill in the House of Representatives that touched on nearly every step U.S. agencies take in creating and applying new rules, continuing their blitz to radically reform "abusive" federal regulation of areas from the environment to the workplace. Read More

As it publishes its annual report today, the U.K.'s Financial Reporting Council (FRC) reveals it has asked the government for more oversight powers. Read More

In June 2015, the European Union’s fourth anti-money laundering directive (“4MLD”) was enacted, with the requirement that all member states transpose the rules into national law within two years. The directive is the EU’s main instrument for preventing the misuse of its financial system by money launderers and supporters of terrorism. Read More

The scandal surrounding mining group ENRC is one of the worst to have ever hit the City. Read More

The New York State Department of Financial Services (DFS) on Wednesday released a revised draft of an ambitious regulation designed to protect the state and its citizens from cyberattacks against financial institutions. Read More

Tens of billions of dollars every year move through opaque law-firm bank accounts that create a gap in U.S. money-laundering defenses, according to a Wall Street Journal analysis. Read More

The European Commission is shoring up money laundering measures to regulate cash flows and freeze terrorist assets. Read More