ANALYSIS: TD Bank’s dirty laundry – inside the cultural shift that seeded a money laundering crisis, succession woes and a leadership exodus

Regulatory Watch News

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  SEC Announces Agenda, Panelists for Roundtable on Crypto DeFi

  SEC

  May 28, 2025

  Washington D.C., May 28, 2025 —

  The Securities and Exchange Commission’s Crypto Task Force has announced the agenda and panelists for its June 9 roundtable, “DeFi and the American Spirit.” “DeFi exemplifies the promise of crypto, as it allows people to interact without intermediaries,” said Commissioner Hester M. Peirce, head of the Crypto Task Force. “I look forward to learning from the panelists about how we can create a regulatory environment in which DeFi can thrive.” The roundtable, announced in March as part of a series, will be held at the SEC's headquarters at 100 F Street, N.E., Washington, D.C. from 1 p.m. – 5 p.m. The event will be open to the public and webcast live on the SEC’s website. Doors will open at 12 p.m.

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  FCA seeks further views on stablecoins and crypto custody

  Financial Conduct Authority

  May 28, 2025

  The latest milestone on the road to crypto regulation, the proposals are the result of extensive engagement through roundtables and feedback on previous discussion papers. Stablecoins are cryptoassets that aim to maintain a stable value by referencing 1 or more fiat currencies. Stablecoins have the potential to drive efficiency in payments and settlement using blockchain technology, with particular benefits for cross-border transactions. The FCA’s proposed rules aim to ensure regulated stablecoins maintain their value. They also mean that customers should be provided with clear information on how the backing assets are being managed.

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  Investigation cluster Midas: Additional conviction for VAT fraud in Germany

  European Public Prosecutor's Office

  May 28, 2025

  (Luxembourg, 28 May 2025) – The European Public Prosecutor’s Office (EPPO) in Munich (Germany) has secured another conviction in the EPPO investigation cluster Midas, a large-scale VAT fraud case spanning 17 countries and involving an estimated damage of €195 million. Last week (20 May), the Landshut Regional Court (Landgericht Landshut) sentenced one individual for VAT fraud. The convicted was involved in fraudulent trading of protective face masks, exploiting VAT rules to evade tax payments. His action resulted in an estimated VAT loss of around €600 000. The court sentenced him to one year and 10 months of imprisonment on probation, ordering the confiscation of € 600 000.