NEWS: US imposes new sanctions in Colombia and Mexico to target Sinaloa Cartel

Regulatory Watch News

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  Caroline Ellison sentenced to two years for her role in the collapse of crypto exchange FTX which caused consumers to lose billions of dollars.

  Southern District of New York - District Court

  September 24, 2024

  Ellison, who is also the ex-girlfriend of former FTX CEO Sam Bankman Fried, had already pled guilty to two counts of conspiracy to commit wire fraud, two counts of actual wire fraud, one count of conspiracy to commit commodities fraud, one count of conspiracy to commit securities fraud and one count of conspiracy to commit money laundering. Alameda Research had close ties to FTX, and both were founded by Sam Bankman-Fried. 

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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.