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Regulatory Watch News

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  In Dual Actions, Treasury Sanctions Clan Del Golfo Leadership in Colombia and Businesses Owned by Sinaloa Cartel Fentanyl Traffickers in Mexico

  OFAC

  September 24, 2024

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning five Colombian nationals and two Mexico-based businesses pursuant to Executive Order (E.O.) 14059, “Imposing Sanctions on Foreign Persons Involved in the Global Illicit Drug Trade.”  The Colombian individuals sanctioned today are leaders within Colombia’s Clan del Golfo (CDG)—also known as Los Urabeños—which is one of the country’s largest drug trafficking organizations and a key contributor to human smuggling through the Darién Gap. The companies sanctioned today are located in Mexico and owned by designated Sinaloa Cartel fentanyl traffickers. One of the most notorious and pervasive drug trafficking organizations in the world, the Sinaloa Cartel is responsible for a significant portion of the illicit fentanyl and other deadly drugs trafficked into the United States.

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  Eleven Firms to Pay More Than $88 Million Combined to Settle SEC’s Charges for Widespread Recordkeeping Failures

  SEC

  September 24, 2024

  Washington D.C., Sept. 24, 2024 —

  The Securities and Exchange Commission today announced charges against 12 firms, comprising broker-dealers, investment advisers, and one dually-registered broker-dealer and investment adviser, for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications in violation of recordkeeping provisions of the federal securities laws.

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  Italy: €114 000 in RRF funds seized in fraud investigation involving wholesale company

  European Public Prosecutor's Office

  September 24, 2024

  (Luxembourg, 24 September 2024) – At the request of the European Public Prosecutor’s Office (EPPO) in Rome (Italy), the Italian Financial Police (Guardia di Finanza) of Giulianova (Teramo) have executed a freezing order amounting to €114 000 against one company, active in the non-specialised wholesale trade of food and tobacco. It is suspected of fraud involving funds from the Recovery and Resilience Facility (RRF).