Compliance & Ethics

The Commodity Futures Trading Commission (CFTC) has made a resounding move in the world of digital asset platforms, filing a complaint in the U.S. District Court for the Southern District of New York. The complaint, targeting Tennessee resident Stephen Ehrlich, former CEO of Voyager Digital Ltd., Voyager Digital Holdings, Inc., and Voyager Digital, LLC (collectively referred to as Voyager), levels serious allegations of fraud and registration failures.

A new survey by Wolters Kluwer has exposed a startling lack of awareness among companies subject to the Corporate Transparency Act (CTA), which is set to take effect in less than 90 days. The CTA introduces "beneficial ownership" rules that mandate companies to report vital information about their ownership structure. Failure to comply with these new regulations poses substantial compliance risks, including hefty fines and the potential for legal repercussions.

In a significant move to keep pace with the fast-evolving landscape of financial markets, the U.S. Securities and Exchange Commission (SEC) has announced a set of rule amendments governing beneficial ownership reporting under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934. These amendments, aimed at providing more timely and relevant information to investors, have been widely anticipated and welcomed by market participants.

The head of Germany's cartel office, Andreas Mundt, has issued a stark warning about the looming threat of Big Tech's dominance in the realm of artificial intelligence (AI). His remarks have ignited concerns among regulators globally, who fear that tech giants, armed with vast reserves of user data, may gain an insurmountable edge in AI applications across industries.

The U.S. Department of Justice (DOJ) has unveiled a new Safe Harbor policy designed to encourage voluntary self-disclosures of criminal misconduct made in connection with mergers and acquisitions (M&A). The policy aims to promote transparency, predictability, and incentives for companies to disclose wrongdoing during M&A processes.

The president of Metalhouse LLC, John Can Unsalan, also known as Hurrem Can Unsalan, has pleaded guilty to engaging in a conspiracy to commit money laundering aimed at promoting violations of U.S. sanctions. The illicit scheme involved conducting transactions to acquire over $150 million in metal products from companies owned by Sergey Kurchenko, a sanctioned Russian oligarch.

The Singapore government announced today they have plans to form an inter-ministerial panel which will review its anti-money laundering regime in the midst of one of the largest money laundering cases ever.