Insight

Washington Report 360 | March 4, 2022

Additional sanctions; Other regulatory attention to financial crimes, cyber security, and crypto and digital assets

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key Highlights

  • Regulatory Risks. Federal and state regulators are signaling expanded regulatory attention to financial crimes, cyber security, and crypto and digital assets in addition to compliance risks related to recent sanctions and export controls.
  • Sanctions. The Administration and OFAC announced that the U.S. and other countries agreed to block certain Russian banks from SWIFT, expanded sanctions and export controls. (See KPMG Regulatory Alert)
  • Disclosures. The SEC has proposed new rule and reporting requirements for institutional investment managers and broker-dealers regarding short sales related data.
  • Payments. FRB proposed a supplement to it proposed guidelines for evaluating requests by entities seeking account and payments services at Federal Reserve Banks that would base the level of review on existing federal deposit insurance and/or supervision by a federal bank regulatory agency.

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