NEWS: TD Bank knew of AML probe six months before disclosing; US staffer accused of creating shell companies, laundering millions in Colombia

Regulatory Watch News

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  Co-Founders of Paycheck Protection Program Lender Service Provider Charged for COVID-19 Relief Fraud Scheme

  US Department of Justice

  November 22, 2024

  An indictment was unsealed yesterday in the Northern District of Texas charging two co-founders of Blueacorn, a lender service provider, in connection with a scheme to fraudulently obtain COVID-19 relief money guaranteed by the U.S. Small Business Administration (SBA) through the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

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  SEC Charges Three Broker-Dealers with Filing Deficient Suspicious Activity Reports

  SEC

  November 22, 2024

  Washington D.C., Nov. 22, 2024 —

  The Securities and Exchange Commission today announced that broker-dealers Webull Financial LLC, Lightspeed Financial Services Group LLC, and Paulson Investment Company, LLC have agreed to settle charges that they filed with law enforcement suspicious activity reports (SARs) that failed to include important, required information. The three broker-dealers agreed to pay $275,000 combined in civil penalties to settle the SEC’s charges.

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  Financial sanctions update: Frozen Assets Reporting 2024

  OFSI

  November 22, 2024

  OFSI is conducting its Frozen Asset Review. If you hold or control funds or economic resources belonging to, owned, held, or controlled by a designated person, you are required to submit a report to HM Treasury's OFSI by the extended deadline of Monday 25 November 2024.

  This email is a final reminder that you are required to report the value of all assets as they stood at close of business on Monday 30 September 2024.

  Your report must include details of all funds or economic resources frozen in the UK and overseas, where these funds or economic resources are subject to UK financial sanctions legislation.