By: Joseph Skilton, Michael Ruck, Rosie Naylor
The FCA has assessed and reported on the sanctions controls of over 90 financial service firms from a range of sectors including wealth management.
Read MoreBy: Keri E. Riemer, Michael W. McGrath, Neil T. Smith, Hayley Trahan-Liptak, and Christopher F. Warner
On 15 November 2022, the U.S. Securities and Exchange Commission (SEC) announced its enforcement statistics for its 2022 fiscal year (FY 2022), noting that it filed 760 total enforcement actions — a 9% increase over fiscal year 2021. This total was comprised of 462 new actions, 169 “follow-on” actions, and 129 actions for delinquent filings. Money obtained in SEC actions, comprising civil penalties, disgorgement, and pre-judgment interest, totaled a record-breaking $6.439 billion (compared to $3.852 billion in fiscal year 2021). Civil penalties, totaling $4.194 billion, were also the highest on record.
Read MoreBy: Jim Bulling and Kithmin Ranamukhaarachchi
As Russia’s invasion of Ukraine continues, global economic sanctions have evolved into a complex web of restrictions and prohibitions with limited exceptions. As a result, asset managers have more layers of regulation to navigate in relation to current holdings and future investments in virtually all markets directly or indirectly connected to Russia, Belarus and Ukraine (Region).
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