The Commodity Futures Trading Commission (CFTC) has issued an order fining Vitol Inc. and its affiliate, Vitol SA, a combined $500,000 for exceeding federal position limits in crude oil and live cattle futures contracts. This landmark case marks the CFTC's first enforcement action involving aggregate positions across multiple exchanges.
The Securities and Exchange Commission (SEC) has charged OTC Link LLC, a New York-based broker-dealer, with failing to file numerous Suspicious Activity Reports (SARs) over a period exceeding three years. The firm has agreed to pay $1.19 million to settle the charges.
In a major victory for defrauded FTX customers, the Commodity Futures Trading Commission (CFTC) has obtained a historic $12.7 billion judgment against the failed cryptocurrency exchange and its affiliated trading firm Alameda Research.
The Federal Reserve has mandated a comprehensive overhaul of compliance and risk management practices at Customers Bancorp, Inc., the parent company of Customers Bank, following the identification of significant deficiencies in the Bank’s anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance. The move comes as the Bank aggressively pursues a digital asset strategy, raising concerns among federal regulators about its preparedness to manage associated risks.
In the ever-evolving landscape of digital technology, the European Union has taken a bold step towards ensuring universal access with the European Accessibility Act (EAA). Enacted in June 2019, this groundbreaking legislation represents a paradigm shift in how businesses approach digital accessibility, extending far beyond the scope of its predecessor, the 2016 Web Accessibility Directive.
The U.S. Department of Justice has reached a settlement with Legends Hospitality Parent Holdings LLC (Legends) following allegations of illegal premerger coordination in connection with its proposed acquisition of ASM Global Inc. (ASM). The settlement, announced on Monday, requires Legends to pay $3.5 million in civil penalties and mandates significant compliance measures to prevent future antitrust violations.
The U.S. Department of Justice's recently launched whistleblower reward program is drawing both praise and criticism from legal experts in the field. While many welcome the initiative, concerns have emerged about key aspects of the three-year pilot program.