The European Union has officially launched its new framework for tackling money laundering and terrorist financing. The European Banking Authority (EBA) has welcomed this development, which includes the establishment of a dedicated anti-money laundering and countering the financing of terrorism authority (AMLA).
The Securities and Exchange Commission (SEC) has taken action against Meta Materials Inc. and its former CEOs, John Brda and George Palikaras, alleging a market manipulation scheme that raised $137.5 million from investors in 2021.
The Bank for International Settlements (BIS) has issued a stark warning to central banks worldwide: adapt your AI governance frameworks now or risk being left behind. In a landmark report released on June 25, 2024, the BIS emphasizes that traditional governance models are inadequate for the AI-driven future of finance.
The Federal Reserve Bank of Chicago has entered into a Written Agreement with Pedcor Financial, LLC, Pedcor Financial Bancorp, and Fidelity Federal Bancorp. This action comes in response to concerns about the financial soundness and risk management practices of these entities, which control United Fidelity Bank, FSB in Evansville, Indiana.
On June 25, 2024, the California Privacy Protection Agency (CPPA) and France's Commission Nationale de l'Informatique et des Libertés (CNIL) signed a landmark declaration of cooperation in Paris. This agreement aims to strengthen efforts in safeguarding personal information and advancing privacy rights across borders.
The Securities and Exchange Surveillance Commission (SESC) has recommended that administrative disciplinary action be taken against MUFG Bank, Ltd. (MUBK), Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. (MUMSS), and Morgan Stanley MUFG Securities Co., Ltd. (MSMS). This decision follows a comprehensive inspection revealing serious violations under the Financial Instruments and Exchange Act (FIEA).
Synnovis, a pathology laboratory handling blood tests for multiple NHS organizations in South East London, has fallen victim to a cyber attack, triggering concerns over potential data exposure affecting NHS patients.