AML Compliance

Formations of, Acquisitions by, and Mergers of Bank Holding Companies

The Federal Reserve published a notice listing bank holding company applications received under the Bank Holding Company Act of 1956. One specific application is listed: Independent Bank Corporation of Grand Rapids, Michigan seeks to merge with HCB Financial Corp and thereby indirectly acquire Highpoint Community Bank, both of Hastings, Michigan. Public comments on these applications are due by May 27, 2026, to the Federal Reserve Bank of Chicago or the Board of Governors.

Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company

The Federal Reserve System has published notices requesting public comments on applications filed under the Change in Bank Control Act. David W. Rathje and affiliated parties (Kelly S. Rathje Brandon, the Jonathan 2012 Irrevocable Trust, the Lauren 2012 Irrevocable Trust, David J. Rathje, Rachel O. Rathje, and Roxane Rathje) seek to retain voting shares of First Illinois Corporation, indirectly retaining voting shares of HPB Holdings, Inc. and Hickory Point Bank and Trust, all of Decatur, Illinois. Comments on these applications must be received by May 12, 2026.

OFAC Publishes Sanctions Action Notice

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) published a notice announcing the placement of one or more persons on the Specially Designated Nationals and Blocked Persons List (SDN List). The action was issued on April 23, 2026, based on determinations that applicable legal criteria were satisfied under authorities including E.O. 13694 (as further amended). All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. The document number is 91 FR 22576.

OCC Proposes Streamlining Public Welfare Investment, CLO, and Nondiscrimination Rules

The Office of the Comptroller of the Currency (OCC) has published a proposed rule to rescind or amend regulations in 12 CFR parts 24, 43, and 128 that are unnecessary, lack clear statutory authority, or are duplicative, consistent with Executive Order 14219. The proposal would remove certain references to minority- and women-owned entities; remove the credit risk retention alternative compliance option for lead arrangers of open market collateralized loan obligations; and remove duplicative non-discrimination requirements for Federal savings associations. Comments must be received by May 27, 2026.

State Government Securities Auction: ₹14,500 Crore Across 7 Indian States

The Reserve Bank of India will conduct an auction of state government securities on April 28, 2026 for a total of ₹14,500 Crore across seven states: Assam, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Uttar Pradesh, and Uttarakhand. Competitive bids must be submitted electronically via the E-Kuber system between 10:30 AM and 11:30 AM; non-competitive bids are accepted between 10:30 AM and 11:00 AM. Individual investors may participate through the RBI Retail Direct portal under the non-competitive bidding scheme.

Underwriting Auction Results: Government Securities, April 24, 2026

The Reserve Bank of India announces results of the Additional Competitive Underwriting (ACU) auction conducted on April 24, 2026, for four Government of India securities. Four securities were fully subscribed: 6.03% GS 2029 and 6.68% GS 2033 each at ₹11,000 crore notified amount, and 7.24% GS 2055 and New GOI SGrB 2056 each at ₹5,000 crore notified amount. ACU commission cut-off rates were set at 1.20 paise per ₹100 for the 2029 security, 0.74 paise for the 2033 security, 0.64 paise for the 2055 security, and 0.68 paise for the 2056 security. These results establish the underwriting commission rates payable to Primary Dealers for each security.

Irinjalakuda Town Co-operative Bank Directive Extended to July 30, 2026

The Reserve Bank of India has extended the operational period of directions issued to The Irinjalakuda Town Co-operative Bank Ltd., Kerala under Section 35A read with Section 56 of the Banking Regulation Act, 1949, for a further three months from close of business on April 30, 2026, to close of business on July 30, 2026, subject to review. The extension should not be construed to imply that the RBI is satisfied with the financial position of the bank. Other terms and conditions of the original directive remain unchanged.

Government Stock Auction Results: Cut-off Prices, April 24, 2026

RBI conducted a government securities auction on April 24, 2026 for four GOI stocks: 6.03% GS 2029, 6.68% GS 2033, 7.24% GS 2055, and New GOI SGrB 2056. Total notified amount was ₹32,000 crore across all four securities, with full acceptance of bids across all categories. Cut-off prices ranged from 96.20 to 99.30 with implicit yields between 6.3065% and 7.5628% depending on maturity. Devolvement on Primary Dealers was NIL across all categories, indicating successful market absorption of the government borrowing.

Money Supply Data, Fortnight Ended April 15, 2026

The Reserve Bank of India released money supply data for the fortnight ended April 15, 2026. The press release (Reference 2026-2027/138) is dated April 24, 2026 and is signed by Ajit Prasad, Deputy General Manager (Communications). The data is available in Excel format via an attached link. This is a routine statistical publication with no new regulatory obligations or compliance requirements.

RBI Penalises Bandhan Bank ₹41.80 Lakh for KYC Non-Compliance and Director Loan Violations

The Reserve Bank of India imposed a monetary penalty of ₹41.80 lakh on Bandhan Bank Limited for contravention of section 20(1)(b)(iii) of the Banking Regulation Act, 1949 and non-compliance with RBI's Know Your Customer directions. The violations sustained after a show-cause notice and personal hearing were: failure to carry out periodic review of risk categorisation of certain categories of accounts, and sanctioning of director-related loans. The penalty was imposed in exercise of powers under section 47A(1)(c) read with section 46(4) of the BR Act, based on supervisory findings from an inspection with reference to the bank's financial position as of March 31, 2025.

₹42,010 Crore GS Auction Results: 6.03% GS 2029, 6.68% GS 2033, 7.24% GS 2055, New GOI SGrB 2056

The Reserve Bank of India conducted a full auction of four government securities on April 24, 2026, with a combined notified amount of ₹42,010 crore. The auction attracted competitive bids totaling ₹84,380.265 crore against the notified amount, with partial allotment percentages ranging from 1.7062% for the 6.03% GS 2029 to 98.9692% for the new GOI SGrB 2056. All underwriting obligations devolved to primary dealers with NIL amounts, indicating full market participation without requiring dealer support.

RBI Bulletin Weekly Statistical Supplement: Liabilities, Assets, Reserves

The Reserve Bank of India published its weekly statistical supplement covering liabilities and assets, foreign exchange reserves, scheduled commercial bank business, money stock components, and liquidity operations through April 17, 2026. Foreign exchange reserves stood at ₹6,534,629 crore (US$703,308 million), with gold holdings at ₹1,134,738 crore reflecting a year-on-year increase of ₹412,766 crore. Aggregate deposits at scheduled commercial banks were ₹25,648,470 crore as of April 15, 2026, with bank credit at ₹20,921,084 crore. This is a routine statistical release creating no compliance obligations.

RBI Approves Mattancherry-Peoples Urban Bank Amalgamation, Kerala

The Reserve Bank of India has sanctioned the voluntary amalgamation of The Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala with The Peoples' Urban Co-operative Bank Ltd., Tripunithura, Kerala. The Scheme takes effect April 27, 2026 (Monday). All branches of The Mattancherry Mahajanik Co-operative Urban Bank Ltd will function as branches of The Peoples' Urban Co-operative Bank Ltd. from that date. The RBI exercised powers under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949.

RBI Cancels Paytm Payments Bank Licence Under Banking Regulation Act

The Reserve Bank of India cancelled the banking licence of Paytm Payments Bank Limited effective April 24, 2026, prohibiting it from conducting any banking business under Section 22(4) of the Banking Regulation Act, 1949. RBI cited four statutory grounds: affairs conducted detrimental to depositor interests, management character prejudicial to depositors and public interest, no public interest in allowing the bank to continue, and failure to comply with licence conditions. RBI will apply to the High Court for winding up of the bank. The bank reportedly has sufficient liquidity to repay its entire deposit liability upon winding up.

RBI to Auction 24,000 Crore Treasury Bills on April 29, 2026

The Reserve Bank of India announced an auction of Government of India Treasury Bills totaling ₹24,000 crore, comprising ₹12,000 crore in 91-day bills, ₹6,000 crore in 182-day bills, and ₹6,000 crore in 364-day bills. The auction is scheduled for April 29, 2026, with settlement on April 30, 2026. Competitive bids will be accepted from 10:30 am to 11:30 am and non-competitive bids from 10:30 am to 11:00 am on the E-Kuber system. Non-competitive participation is open to State Governments, Union Territories, eligible Provident Funds, designated Foreign Central Banks, and retail investors, with retail allocation capped at 5 percent of the notified amount.

RBI Imposes ₹80,000 Penalty on Muthoot Housing Finance for Fair Practice Code Violations

The Reserve Bank of India imposed a monetary penalty of ₹80,000 on Muthoot Housing Finance Company Limited for non-compliance with RBI's Fair Practice Code directions. The penalty was imposed by order dated April 21, 2026, following a statutory inspection by National Housing Bank with reference to the company's financial position as of March 31, 2025. After a show-cause notice and personal hearing, RBI sustained the charge that the company failed to disclose its approach for gradation of risk and the rationale for charging different rates of interest to different borrower categories in application forms and sanction letters.

SEC Proposes $175M Becton Dickinson Fair Fund Distribution Plan

The SEC has issued a Notice of Proposed Plan of Distribution seeking public comment on the disbursement of a $175 million Fair Fund collected from Becton, Dickinson and Company following an enforcement action for misrepresenting regulatory risks associated with its Alaris infusion pump. The proposed plan would distribute the Net Available Fair Fund to investors who purchased BD common stock between February 5, 2019 and February 5, 2020 and suffered losses as calculated under the Plan of Allocation methodology. Comments on the Proposed Plan must be submitted within 30 days of the April 24, 2026 notice date.

OCC SoFi Regulatory Meeting Summary, April 24

The Office of the Comptroller of the Currency (OCC) and SoFi Technologies, Inc. held a regulatory meeting on April 24, 2025 to discuss matters related to SoFi's national bank operations. The meeting summary is filed under docket OCC-2025-0372-0116 and documents the discussion topics between OCC supervisory staff and SoFi representatives.

OCC Meets Digital Asset Regulatory Matters April 24

The Office of the Comptroller of the Currency published a document titled 'OCC meets Digital Asset, 24th Apr, regulatory matters' under docket OCC-2025-0372-0117. The document is available for download as a PDF from regulations.gov. No substantive text content was accessible for analysis. Recipients should review the original PDF for details on the regulatory matters discussed.

Routledge Fireside Chat Toronto April 28 2026

OSFI announced that Superintendent Peter Routledge will participate in a fireside chat hosted by PwC and VersaFi on Tuesday, April 28, 2026, from 6:00 p.m. to 8:30 p.m. ET at PwC's Toronto office. The discussion titled "Canada Strong: The Future-Ready Financial System" will explore how OSFI is balancing resilience, competitiveness, and supervisory priorities as Canada's financial sector adapts to structural economic change, digital innovation, and emerging risks. Media wishing to attend must confirm by email before April 26 at 5:00 PM.

CFTC Files Amicus Brief in Massachusetts Supreme Judicial Court Defending Prediction Market Jurisdiction

The CFTC filed an amicus brief in the Massachusetts Supreme Judicial Court on April 24, 2026, reaffirming its exclusive jurisdiction over U.S. commodity derivatives markets, including event contract prediction markets. The filing is part of a broader CFTC campaign against state encroachment, which includes lawsuits against Arizona, Connecticut, Illinois, and New York, with a temporary restraining order secured against state regulation in Arizona. The CFTC argues that the comprehensive framework of the Commodity Exchange Act preempts state laws as applied to CFTC-regulated markets.

CFTC Sues New York to Preserve Prediction Market Authority

The CFTC filed a lawsuit in the U.S. District Court for the Southern District of New York on April 24, 2026, seeking a declaratory judgment that federal law grants it exclusive authority over event contracts and a permanent injunction preventing New York from enforcing state gambling laws against CFTC-registered exchanges. The action is the fourth in a series of CFTC lawsuits against states — following Arizona, Connecticut, and Illinois — that have attempted to apply state gambling laws to CFTC-registered prediction market operators. New York has issued cease-and-desist letters and civil enforcement suits against these exchanges.

SEC Charges Jay S. Lucas and Lucas Brand Equity, LLC with $50M Fraud

The SEC filed fraud charges in the U.S. District Court for the Southern District of New York against Jay S. Lucas and Lucas Brand Equity, LLC for allegedly soliciting over $50 million from hundreds of investors between 2013 and 2025 through three private equity funds. The SEC alleges that Lucas and LBE misrepresented that investor funds would be used for early-stage investments in wellness, beauty, and skincare companies, but instead diverted millions to personal expenses including rent, alimony, wedding costs, political consulting, and ownership of a New Hampshire newspaper. The complaint seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties. A parallel criminal indictment was returned by the U.S. Attorney's Office for the Southern District of New York on December 18, 2025.

Final Judgment Against John Fernandez, Avail Progression LLC, and Elite Generators LLC for Forex Fraud

The SEC obtained a final judgment in the Southern District of Texas against John Fernandez and two entities he controlled, Avail Progression LLC and Elite Generators LLC, for operating a forex fraud scheme. Instead of trading investor funds in forex markets as promised, Fernandez misappropriated the majority of investor money for Ponzi payments to earlier investors and personal expenses. The final judgment permanently enjoins all defendants from violating securities laws and bars Fernandez from serving as an officer or director of any public company. Defendants are jointly and severally liable for disgorgement of $5,002,383.00 plus $1,626,707.93 in prejudgment interest, with Fernandez individually liable for a $472,902.00 civil penalty.

Social Security Asks Banks to Encourage Online Accounts

The Social Security Administration has released a new resource urging banks and financial institutions to encourage customers to open online "my Social Security" accounts. The online portal, created more than a decade ago, allows individuals to review their earnings history, report missing or incorrect earnings, and access spousal and survivor benefit estimates. SSA is asking banks to include account reminders in client interactions and share Social Security materials with customers and advisors. The agency emphasizes that account creation supports fraud prevention and identity protection.

Treasury Secretary Scott Bessent Hosts Financial Literacy Roundtable

Treasury Secretary Scott Bessent hosted a financial literacy roundtable with 14 community bankers from across the country at the Treasury Department on April 24, 2026, as part of Financial Literacy Month. The session was structured as a listening exercise to gather information about successful financial education programs at banks, including ABA Foundation's Teach Children to Save, Get Smart About Credit, and Safe Banking for Seniors initiatives. Treasury officials indicated the discussion would inform updates to the National Strategy on Financial Literacy, with no new regulatory obligations announced.

ACH Same-Day Payments Hit 403M, Up 23.6%

NACHA reported 403 million same-day ACH payments processed in the first quarter of 2026, representing a 23.6% increase compared to the same period in 2025. Total Q1 payments reached $1.1 trillion in value, a 22.1% year-over-year gain and the second consecutive quarter in which same-day ACH value exceeded $1 trillion. Business-to-business payment volume grew to nearly 2.1 billion transactions, up 9.4%, while overall ACH Network volume rose 4.8% to 8.9 billion payments valued at $24.1 trillion, up 9.3%.

Egmont Group at World Bank/IMF Spring Meetings

The Egmont Group participated in World Bank/International Monetary Fund Spring Meetings in Washington, DC, with Executive Secretary Jerome Beaumont contributing to panel discussions on anti-financial crime, artisanal and small-scale gold mining, and financial integrity. Beaumont highlighted FIU capabilities in uncovering unlicensed extraction payments, trade-based money laundering, shell company ownership, and environmental crime financing. He also met with IMF's Financial Integrity Group and FinCEN's leadership, and participated in a Georgetown University discussion on the future of financial integrity.

OFAC Places 8 Persons and 2 Entities on SDN List Under E.O. 13224 and E.O. 13382

OFAC designated 8 individuals and 2 entities to the Specially Designated Nationals (SDN) List on April 21, 2026. Designations were made under Executive Order 13224 (terrorism) and Executive Order 13382 (weapons of mass destruction proliferators). Affected parties include individuals connected to SEPEHR KAVEH KISH INTERNATIONAL TRADING COMPANY, MAHAN AIR, PISHGAM ELECTRONIC SAFEH COMPANY, and ADAK PARGAS PARS TRADING COMPANY. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.

Federal Reserve Approves Banco de Credito del Peru Florida Branch

The Federal Reserve Board announced approval of Banco de Credito del Peru's application to establish a state-licensed branch in Coral Gables, Florida. The Peruvian bank's application was granted, permitting it to conduct banking operations at the new Florida location. This approval is part of routine international bank branching authorisations under federal banking regulations.

Federal Reserve Approves OceanFirst-Flushing Financial Merger

The Federal Reserve Board has approved the application by OceanFirst Financial Corp., headquartered in Toms River, New Jersey, to merge with Flushing Financial Corporation and thereby indirectly acquire Flushing Bank, both of Uniondale, New York. The approval was announced on April 24, 2026 at 4:00 p.m. EDT. This merger approval allows the combined entity to proceed with integration, creating a larger regional banking organization operating in the Northeast.

Proposed Rulemaking on Public Welfare, CLO Investments, Nondiscriminatory

The OCC proposes to streamline 12 CFR parts 24, 43, and 128 by rescinding or amending regulations that are unnecessary, lack clear statutory authority, or are duplicative or burdensome, consistent with Executive Order 14219. The proposed changes would remove certain references to minority- and women-owned entities in community development investment regulations, rescind credit risk retention requirements for open market collateralized loan obligations (CLOs) at 12 CFR 43.9, and remove duplicative non-discrimination requirements for federal savings associations. Comments must be received within 30 days after publication in the Federal Register.

MSB Issuance Notice: Competitive Bidding April 24

The Bank of Korea publishes a Monetary Stabilization Bond (MSB) issuance notice (DC026-0728-0910) for a competitive bidding auction scheduled for April 24, 2026. The notice references electronic bidding, open market operations, and provides contact information for the Market Operations Team at 02-759-4564. Related prior announcements include fixed rate tender issuance (April 21) and prior MSB issuance notices (April 17 and April 14).

FDIC Board Approves Community Bank Leverage Ratio Framework

The FDIC Board of Directors approved by notational vote the Final Regulatory Capital Rule: Revisions to the Community Bank Leverage Ratio Framework. The vote was unanimous, with Chairman Hill, Director Gould, and Director Vought all voting in favor. The action was taken on April 23, 2026, with the result published on April 24, 2026. The Community Bank Leverage Ratio Framework affects how community banks meet regulatory capital requirements.

OFAC Designates 19 Entities and 19 Vessels Under Iran Sanctions; Issues Wind-Down License for Hengli Petrochemical

OFAC added 19 entities and 19 vessels to the Specially Designated Nationals (SDN) List under Executive Order 13902 (Iran). The designations target a network of shipping companies and a petrochemical refinery involved in Iranian petroleum trade, spanning jurisdictions including China, Hong Kong, Panama, Marshall Islands, Liberia, and Vietnam. OFAC concurrently issued General License V authorizing a 30-day wind-down period for transactions involving Hengli Petrochemical (Dalian) Refinery Co., Ltd.

HKMA Alerts Public to Fraudulent Bank Websites and Phishing Scams Involving Six Banks

The HKMA issued a scam alert on 24 April 2026 alerting members of the public to fraudulent websites and internet banking login screens associated with six banks that have been reported to the HKMA: The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank, Fubon Bank (Hong Kong), Bank of Communications (Hong Kong), and DBS Bank (Hong Kong). The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks directing them to bank websites to carry out transactions, and will not ask customers for sensitive information such as login passwords or One-Time Passwords by phone, email, or SMS. Anyone who has provided personal information or conducted financial transactions through these scams should contact the relevant bank and report to the Hong Kong Police Force Crime Wing Information Centre at 2860 5012.

ESAs Joint Committee Annual Report 2025: Digitalisation, Cyber Resilience, Sustainable Finance Priorities

The Joint Committee of EBA, EIOPA and ESMA published its Annual Report for 2025 on 24 April 2026. The report sets out priorities and achievements of cross-sectoral work focused on protecting consumers in increasingly digital financial markets, strengthening operational and cyber resilience through implementation of the Digital Operational Resilience Act (DORA), and improving effectiveness of sustainable finance disclosures. The Committee also advanced work on the EU securitisation framework, European Single Access Point (ESAP), and regulatory simplification in sustainable finance and PRIIPs.

Alaskans Report Record $21B Cyber Crime Losses

The FBI's Internet Crime Complaint Center (IC3) released its 2025 Internet Crime Report documenting over 1 million complaints of cyber-enabled crimes costing Americans nearly $21 billion in 2025 – a 26% increase in losses from 2024. In Alaska specifically, residents filed 3,202 complaints with reported losses of nearly $40 million, a 52% increase ($13.6 million) over the prior year. Cryptocurrency-related losses accounted for approximately 46% (over $18.6 million) of Alaska's reported losses. The FBI advises victims to immediately notify financial institutions and submit complaints to ic3.gov.

Council Regulation (EU) 2026/511 Amends Regulation (EU) No 269/2014 on Ukraine Restrictive Measures

Council Regulation (EU) 2026/511 amends Regulation (EU) No 269/2014 (the core Ukraine sanctions regulation) to implement Decision (CFSP) 2026/504. Key amendments include: (1) expanded listing criteria for vessels and entities managing or supporting vessels engaged in sanctionable activities; (2) a new derogation from asset freeze for a listed insurance company relating to indemnities and benefits; (3) new derogations for state-funded cultural intermediators operating Russian foreign cultural policy in Russia (cultural institutions, schools, minority organizations); (4) clarification that listed persons' arbitration claims related to restricted contracts cannot be satisfied, with a conditional carve-out for arbitral costs; (5) a new derogation enabling frozen funds release to facilitate reduction of Russian crude oil imports; and (6) extension of an existing derogation for goods and services needed for the Sofia metro system. These amendments take effect across all EU Member States upon publication.

EU Amends Russia Restrictive Measures, Adds 60 Entities to Export Control List

Council Regulation (EU) 2026/506 of 23 April 2026 amends Regulation (EU) No 833/2014 by adding 60 new entities to the list in Annex IV to Decision 2014/512/CFSP, targeting persons and entities supporting Russia's military and industrial complex. The amendment tightens export restrictions on dual-use goods and technology, microelectronics, components for unmanned aerial vehicles, maritime equipment, and components for vehicles and machinery. Additionally, the regulation imposes new import restrictions on raw materials, metals, minerals, steel scrap, chemicals, rubber articles, and tanned furskins, extends the prohibition on transit via Russia, and expands the broadcasting prohibition to cover entities mirroring content of already-prohibited entities.

Council Decision 2026/504 Amending Ukraine Restrictive Measures, 23rd Apr

The Council of the European Union adopted Decision (CFSP) 2026/504 on 23 April 2026, amending Decision 2014/145/CFSP on restrictive measures in respect of actions undermining Ukraine's territorial integrity, sovereignty and independence. The decision modifies listing criteria for vessels and entities involved in sanctionable activities, adds new derogations for state-funded cultural intermediators in Russia, introduces a derogation for arbitration costs against listed parties, extends a derogation to a newly listed insurance company, and adds a derogation for entities reducing Russian crude oil imports.

EU Ukraine Sanctions List Update - New Designations Under Decisions 2014/145/CFSP and 269/2014

The Council of the European Union has published a notice in the Official Journal (C/2026/2460) informing newly designated persons, entities, and bodies that they have been added to the EU sanctions list under Council Decision 2014/145/CFSP (amended by Decision 2026/504) and Council Regulation (EU) No 269/2014 (implemented by Regulation 2026/509), concerning restrictive measures in respect of actions undermining Ukraine's territorial integrity, sovereignty and independence. Designated parties have until 2 June 2026 to submit a request for reconsideration to the Council's General Secretariat, and may also challenge the designation before the General Court of the European Union pursuant to Article 275 and Article 263 TFEU.

EU Sanctions Notice: Belarus Entities Listed Under Restrictive Measures

The Council of the European Union has published a notice (C/2026/2468) bringing to the attention of listed entities that they have been included in the restrictive measures under Council Decision 2012/642/CFSP and Council Regulation (EC) No 765/2006, as implemented by Council Implementing Decision (CFSP) 2026/503 and Council Implementing Regulation (EU) 2026/505 respectively. These measures target Belarus in light of its involvement in Russian aggression against Ukraine. Listed entities have until 27 November 2026 to submit a request for reconsideration to the Council's General Secretariat at RELEX.1, and may also challenge the decision before the General Court of the European Union.

EU Amends Belarus Sanctions Amid Ukraine Conflict

Council Regulation (EU) 2026/513 of 23 April 2026 significantly expands EU restrictive measures against Belarus in response to Belarus's involvement in Russian aggression against Ukraine. The regulation extends export controls to include items used by Russia in its war (laboratory glassware, high-performance lubricants and additives), expands goods subject to export restrictions (chemicals, rubber articles, steel articles, metal-production tools, industrial tractors), and extends transit prohibitions. New service restrictions cover managed security services and tourism-related services (CPC classes 7471 and 7472). Import bans are extended to raw materials, metals, minerals, and scrap steel. An exemption is provided for essential diplomatic and consular representation services.

EU Regulation 2026/509 Adds 37 Persons, 80 Entities to Ukraine Sanctions List

The Council of the European Union adopted Implementing Regulation (EU) 2026/509 on 23 April 2026, adding 37 natural persons and 80 legal entities to the sanctions list under Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining Ukraine's territorial integrity, sovereignty, and independence. The amendments target individuals and entities responsible for actions related to Russia's war of aggression against Ukraine, including those involved in archaeological excavations on Russian-occupied Crimean territory. The regulation entered into force on the date of its publication in the Official Journal and is directly applicable in all EU Member States.

Corrigendum to Council Regulation (EU) 2026/759 Amending Iran Restrictive Measures

The Council of the European Union issued a corrigendum on 23 April 2026 to Council Regulation (EU) 2026/759 of 30 March 2026, which amended Regulation (EU) No 267/2012 concerning restrictive measures against Iran and repealed Regulation (EU) No 961/2010. The corrigendum corrects Article 2(2) and (3) of the amended regulation, updating the reference for dual-use goods and technology from the repealed Regulation (EC) No 428/2009 to Regulation (EU) 2021/821, while introducing exceptions for certain goods listed in Part A of Annex I. Additionally, the corrigendum adds a new procedural obligation requiring Member States to inform other Member States and the Commission within four weeks of any authorisations granted. The corrigendum re-affirms the re-imposition of EU nuclear-related sanctions on Iran following UN Security Council Resolution 2231 (2015).

FIAU Appoints Ruth Aisthorpe Gauci and Elena Tabone Deputy Directors

The Financial Intelligence Analysis Unit (FIAU) announced the appointment of Ms Ruth Aisthorpe Gauci and Ms Elena Tabone as Deputy Directors on April 24, 2026. Ms Aisthorpe Gauci will lead Intelligence and Cash Restriction functions while Ms Tabone will head Strategy, Legal and Administrative Enforcement. Both appointees have served within the FIAU for 11 years and bring extensive experience in AML/CFT oversight developed through years of hands-on work at domestic and international levels.

General Licence INT/2026/9512597 UK Autonomous Sanctions Regulations Legal Services

OFSI has issued General Licence INT/2026/9512597 under the UK Autonomous Sanctions Regulations, creating a permissions framework that allows persons, Relevant Institutions, and Non-UK Bank Account providers to receive and make payments on behalf of or for the benefit of designated persons (DPs) for legal services. The licence sets cumulative caps of £4,000,000 per Law Firm for professional legal fees and Counsel's fees, and either 10% of those fees or £400,000 (whichever is lower) for Expenses. Where no professional legal fees have been received, Expenses are capped at £100,000 per Law Firm. Both Part A (pre-designation legal services) and Part B (ongoing legal services) may be used in conjunction subject to these caps and hourly rate conditions in Part B.

Terrence Chalk Barred from Securities Industry Over Ponzi Scheme

The SEC issued an order barring Terrence Chalk, founder and CEO of the Greenlight entities (Greenlight Advantage Group Inc., Greenlight Investment Partners Inc., Greenlight Business Solutions Inc., and Greenlight Consulting Corp.), from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization. The bar follows Chalk's April 15, 2026 civil court judgment and prior criminal conviction for investment adviser fraud. Chalk orchestrated a Ponzi-like scheme between 2017 and 2020, inducing approximately 40 investors to invest approximately $5 million in a purported private fund called the 'Chairman's Fund' based on false promises of guaranteed outsized returns, using investor funds to enrich himself and make Ponzi-like payments to earlier investors. Chalk was sentenced to 36 months in prison followed by three years of supervised release and ordered to make restitution of $3,701,113.40.

Final Rule Modifies Community Bank Leverage Ratio Framework

The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation jointly issued a final rule modifying the Community Bank Leverage Ratio (CBLR) framework under section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The rule lowers the CBLR requirement from 9 percent to 8 percent and extends the grace period from two quarters to four quarters for community banks that fall below the ratio. Additionally, banks are limited to using the grace period for a maximum of eight out of the prior twenty quarters. The changes are designed to encourage broader adoption of the CBLR framework while maintaining strong capital standards and enabling community banks to increase lending capacity in their communities.