FIA Tech’s Post

Fascinating webinar for those worried about the impact of sanctions on their derivative positions.

Join FIA Tech for a webinar introducing our new Sanctioned Securities offering, part of the Databank Network suite.   Sanctioned Securities utilizes global sanctions lists from major regulatory bodies in the US, UK, and EU to help market participants efficiently identify ETD products linked to underlying indices or single stocks that may include sanctioned entities. By flagging these products, the service enables firms to quickly assess and address potential compliance risks associated with trading ETD products subject to regulatory sanctions.   Justin Hasnat from FIA Tech will provide an in-depth overview of the offering and demonstrate how it helps users effectively meet their compliance obligations. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - listed derivatives compliance and regulatory professionals should not miss this opportunity! sign up at https://lnkd.in/epag7D7X #FIATech #derivatives #Databank #SanctionedSecurities #GlobalSupport

On August 8, the U.S. Commodity Futures Trading Commission (CFTC) announced a whistleblower award exceeding $1 million to an individual who provided crucial information and assistance that led to a successful enforcement action in the digital asset markets. Key Points: - The whistleblower's information helped the CFTC identify improper trading activities in the digital asset space, which were previously unknown to the Commission. - The case highlights the CFTC's commitment to addressing unlawful conduct in the digital asset marketplace, with nearly 50% of the CFTC’s docket last fiscal year involving digital asset cases. - The whistleblower program, established under the Dodd-Frank Wall Street Reform and Consumer Protection Act, has awarded approximately $380 million to date, connected to enforcement actions totaling nearly $3.2 billion in sanctions. The CFTC emphasized the significant role whistleblowers play in enforcing regulations, particularly in emerging markets like digital assets. The identity of the whistleblower and specific details of the enforcement action remain confidential, in line with the Commodity Exchange Act's protections. For more updates on regulatory actions and whistleblower awards in the USA, follow Global Regulatory Insights! #CFTC #Whistleblower #DigitalAssets #Enforcement #GRI

📢 The CySEC - Cyprus Securities and Exchange Commission has successfully launched the #Regulatory #Sandbox during an online event held today. This initiative marks a significant milestone in the advancement of #financial, #regulatory, and #supervisory technologies (FinTech, RegTech, and SupTech) in Cyprus. #innovation #regulatory #sandbox #supervision #cysec #cyprus

🌐💼 Exploring the Complex World of Trade-Based Money Laundering (TBML) 🕵️♂️💰 🔍 Are you curious about the hidden dangers lurking in international trade? 🚢💼 🛡️ Dive into our latest piece on Trade-Based Money Laundering (TBML) and arm yourself with knowledge! 💡 🤝 Learn about the sophisticated techniques criminals use to disguise illicit funds, the challenges we face globally, and the red flags to watch out for. 🚩 🌟 Together, let’s strengthen our defenses and ensure a transparent and secure trade environment for all! 🌟 In a world where borders blur and transactions traverse continents in an instant, understanding TBML is crucial for businesses, financial institutions, and regulatory bodies. 🌐🤝 Join the conversation, stay informed, and equip yourself with the knowledge needed to combat this pervasive threat to the integrity of global trade. 💪 👉 Stay informed, stay vigilant, and join the conversation! #TBML #AntiMoneyLaundering #GlobalTrade

Did you know OneMatch by Credisense helps ensure regulatory compliance? OneMatch provides access to key data sources, including government registries, credit bureaus, global PEPs and sanctions lists! Book a FREE demo to learn more. https://credisense.co.nz/

SFC and CSRC hold high-level enforcement cooperation meeting The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) recently held their 16th regular high-level meeting on enforcement cooperation. The focal point of the meeting in Kunming, Yunnan Province, was initiatives to strengthen collaboration. The two regulatory agencies conducted in-depth discussions on bolstering enforcement cooperation in order to tackle cross-boundary securities crimes and misconduct more effectively, protect the interests of investors in Hong Kong and the Mainland, and reinforce Hong Kong's status as an international financial centre. During the meeting, the two sides updated each other on their enforcement priorities, trends and progress, as well as the successful outcomes of their enforcement cooperation. Both parties also had productive dialogues on several key issues related to cross-boundary enforcement cooperation, including: ·exploring ways to strengthen cross-boundary enforcement cooperation against securities crimes and misconduct, with a view to achieving higher efficiency and comprehensive outcomes; ·sharing the process for handling cases involving suspicious transactions and discussing the mechanism for referral of intelligence; ·discussing the latest trends in ramp-and-dump market manipulation activities; and ·sharing insights into the effective use of advanced technologies to enhance enforcement outcomes. #SFC #HongKong #CSRC #Internationalfinancialcentre #China

In our recent webinar, De-Risking Sanctioned Securities, we polled the audience on their current system for screening. Not surprisingly, the results varied. (see comments below for results) There is no "one size fits all" approach to sanctions compliance. Geographic exposure, counterparty risk, composition of portfolio and the structure of your firm are just some (but not all!) considerations to take into account. However, that doesn't mean there is no baseline to follow. This year BIGTXN published the Sanctioned Securities Handbook in conjunction with our partners Baker McKenzie, Association of Certified Sanctions Specialists and Dow Jones and in it, we lay out the foundations of Sanctions Best Practice when it comes to trading financial instruments. Read the below excerpt to learn more about sanction-proofing your securities portfolios and trades. Download the handbook here: https://lnkd.in/ezFNQcg8 #financialcrime #compliance #sanctions #securities #screening

Our new course offerings this year include these important topics: 1.     Sanctions: Stay compliant with global regulations by understanding the latest sanction laws and guidelines. 2.     Anti-Bribery & Anti-Corruption (FCPA): Learn how to identify, prevent, and manage bribery and corruption risks within your organization. 3.     Preventing Financial Exploitation of Specified Adults: Equip yourself with strategies to protect vulnerable adults from financial exploitation. Learn more at https://lnkd.in/eQb6piJv #Online Courses #Sanctionstraining #AnitBribery #AntiCorruption #FinacialProtection #ComplianceTraining

🌐 Exploring the Shadows of Global Trade: Understanding Trade-Based Money Laundering (TBML) 🌐 Hello Everyone! Today, let’s dive into a topic that, while not often discussed openly, has significant implications for international trade and finance: Trade-Based Money Laundering (TBML). What is TBML, you ask? It’s a complex form of money laundering that uses trade transactions to disguise the origins of illicit funds. By overvaluing, undervaluing, or using phantom shipments, unscrupulous entities can move money across borders without detection. Why should we care? Well, TBML doesn't just affect financial institutions; it impacts businesses and economies globally. It distorts trade statistics, undermines the integrity of financial systems, and erodes public trust. Here are a few thoughts on how we can combat TBML: Enhanced Due Diligence - Businesses need to vet partners thoroughly. Improved Transparency - Clear documentation of all trade transactions is crucial. International Cooperation - Countries must work together to create uniform regulations. Have you encountered TBML in your field, or do you have insights on effective strategies to fight it? I’d love to hear your thoughts and experiences. Let’s collaborate to strengthen our defenses against these hidden threats! #TradeFinance #MoneyLaundering #GlobalTrade #FinancialSecurity #BusinessIntegrity