Singapore's Inter-Ministerial Committee (IMC) recently announced a sweeping overhaul of the nation's anti-money laundering framework, introducing far-reaching measures designed to strengthen the city-state's defenses against financial crimes while preserving its status as a leading global financial center.
The Securities and Exchange Commission announced today that Gurbir S. Grewal, Director of the Division of Enforcement, will leave his position effective October 11, 2024. Sanjay Wadhwa, the division's current Deputy Director, will take over as Acting Director, while Sam Waldon will serve as Acting Deputy Director.
The Commodity Futures Trading Commission's recent enforcement actions against three swap execution facilities, resulting in $2.175 million in combined penalties, has sparked significant debate over the agency's evolving regulatory approach, including a rare public dissent from within the Commission itself.
Ovintiv USA Inc. has agreed to pay $5.5 million in civil penalties and implement approximately $10 million in facility upgrades to resolve Clean Air Act violations at its oil and gas production facilities in Utah, federal authorities announced today.
The Financial Conduct Authority (FCA) has imposed a substantial fine of £29 million on digital challenger bank Starling for significant failings in its financial crime prevention systems and controls.
Citigroup Inc., one of the largest banking institutions in the United States, has been ordered to significantly overhaul its anti-money laundering (AML) compliance programs following deficiencies uncovered by federal regulators. A consent order, issued jointly by the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC), requires Citigroup to implement sweeping reforms across its subsidiaries to address critical lapses in its oversight and governance.
The Commodity Futures Trading Commission (CFTC) has imposed a $4 million fine on Barclays Bank PLC for violations related to swap reporting, a decision that has reignited discussions about the regulator's enforcement strategies and supervisory approach.