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Final Rule Prohibits Regulators from Using Reputation Risk in Bank Supervision

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation jointly issued a final rule codifying the elimination of reputation risk from their supervisory programs. The rule defines reputation risk and explicitly prohibits the agencies from criticizing, taking adverse action, or instructing banks to close customer accounts based on a person's political, social, cultural, religious views, constitutionally protected speech, or lawful business activities perceived as reputational risk.

AML/CFT Program Requirements Proposed Rule - Joint Consultation

Three federal banking regulators (FDIC, OCC, NCUA) jointly published a proposed rule to modernize AML/CFT program requirements for supervised banks and credit unions. The amendments would align agency regulations with the Anti-Money Laundering Act of 2020 and FinCEN requirements, including risk-based program design, explicit customer due diligence integration, and a new FinCEN consultation framework. The proposal requires comments within 60 days of Federal Register publication.

Threat finance: Cryptocurrencies, covert funds and advanced detection

ACAMS published a member perspective article by Dr. Robert Pakla on threat finance trends involving cryptocurrencies and covert fund detection methods. The article discusses emerging patterns in illicit finance and advanced detection technologies for identifying suspicious cryptocurrency transactions.

Operation Prince: Inside a $15 billion crypto fraud takedown

ACAMS Today published an analysis of Operation Prince, a major law enforcement action targeting a cryptocurrency fraud scheme estimated at $15 billion. The article, authored by Ari Redbord, examines the fraud mechanics, regulatory response, and implications for compliance professionals in the digital asset space.

Global Shift Toward Outcomes-Based Anti-Financial Crime Frameworks

ACAMS published an analysis examining the global trend toward outcomes-based approaches in anti-financial crime (AFC) compliance frameworks. The piece discusses how regulators and financial institutions are shifting from traditional activity-based compliance toward measuring actual outcomes and effectiveness. This analysis is directed at compliance professionals and AML specialists within financial institutions.

Agentic workflows for financial crime

ACAMS published a member perspective article examining how agentic AI workflows can be applied to financial crime compliance. The article discusses practical implementation approaches for using autonomous AI agents in transaction monitoring, fraud detection, and suspicious activity reporting. The piece targets compliance professionals and financial crime specialists seeking to understand emerging applications of artificial intelligence in anti-money laundering operations.

2026 U.S. Risk Assessments Redefine Financial Crime and National Security Priorities

ACAMS published an analysis on March 13, 2026 examining how the 2026 U.S. risk assessments are reshaping financial crime and national security priorities for compliance professionals and financial institutions. The article discusses emerging trends in anti-money laundering enforcement and strategic priorities that institutions should monitor.

From Enforcement to Framework: The SEC and CFTC's Crypto Asset Playbook

Bressler summarizes the SEC and CFTC's joint Interpretation issued March 17, 2026, under 'Project Crypto,' which classifies crypto assets into five categories: Digital Commodities, Digital Collectibles, Digital Tools, Stablecoins, and Digital Securities. The guidance clarifies which crypto assets lack economic characteristics of securities and how the Howey investment contract test applies to offerings and sales of non-security crypto assets.

The 50% Rule Is Dead; Long Live the 50% Rule - OFAC Formalizes Expanded Sanctions Due Diligence

Jenner & Block analyzes OFAC's March 31, 2026 guidance on 'Sham Transactions and Sanctions Evasion,' which confirms that OFAC's 50% Rule (automatic blocking of entities 50%+ owned by sanctioned persons) functions as a floor rather than a ceiling for sanctions due diligence. The guidance emphasizes examining 'underlying practical and economic realities' beyond legal formalities. The analysis covers recent enforcement actions including GVA Capital's $215.9 million penalty for managing investments for sanctioned Russian oligarch Suleiman Kerimov.

FCA CP25/41 proposes crypto trading admission, disclosure rules

The UK Financial Conduct Authority published Consultation Paper CP25/41 setting out proposed rules for cryptoasset admissions to trading on UK qualifying cryptoasset trading platforms (CATPs) and disclosure requirements for retail investors. The FCA also proposes a new market abuse framework targeting insider dealing and market manipulation in cryptoasset markets. These proposals build on the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 and are expected to take effect October 25, 2027.

SEC Grants First Exemptive Order for Tokenized Money Market Fund Trading

On February 23, 2026, the SEC issued its first exemptive order permitting continuous trading and settlement for a tokenized government money market fund. The order grants relief from Sections 22(d) and 17(d) of the Investment Company Act of 1940 and associated rules, enabling the fund to trade shares at a stable $1.00 NAV through blockchain technology. The fund sponsor highlighted faster settlement, real-time liquidity access, and elimination of T+1 delays as key benefits.

SEC Staff Issues Additional Names Rule FAQs

The SEC staff issued four additional Frequently Asked Questions (FAQs) on February 18, 2026, clarifying compliance with Rule 35d-1 (the Names Rule) under the Investment Company Act of 1940. The FAQs address shareholder notice requirements for non-fundamental 80% policy changes, treatment of cash holdings for unfunded commitments, and use of modifying terms with 'growth' or 'value' in fund names. Large fund groups (>$1B net assets) must comply by June 11, 2026, while small fund groups have until December 11, 2026.

FinCEN proposes whistleblower incentives for AML, sanctions violations

FinCEN proposes whistleblower incentives for AML, sanctions violations

SEC Enforcement Director Margaret Ryan Resigns - Investment Services Regulatory Update

The SEC announced on March 16, 2026, that Judge Margaret Ryan resigned from her position as Director of the Division of Enforcement. The announcement did not provide a reason for Judge Ryan's departure. This resignation creates a leadership vacancy in the SEC's enforcement division at a time of ongoing regulatory activity in the securities markets.

SEC Proposes Form N-PORT Amendments, Extends Compliance Dates

Vedder Price summarizes the SEC's February 18, 2026 proposal to amend Form N-PORT reporting requirements for investment funds. The proposal would extend filing deadlines to 45 days after month-end (from the 30-day deadline adopted in 2024, but faster than the prior 60-day quarterly deadline), maintain quarterly public reporting instead of monthly, and add reporting requirements for ETF share classes. The SEC also extended compliance dates for prior N-PORT amendments. Public comments on the proposal are due April 24, 2026.

Serbia Mutual Evaluation Report 2025 - AML/CFT/CPF Compliance Ratings

FATF published its mutual evaluation report on Serbia's Anti-Money Laundering/Combating the Financing of Terrorism and Proliferation Financing (AML/CFT/CPF) framework. The report assigns compliance ratings to Serbia across 40 FATF recommendations and 11 immediate outcomes, assessing the country's legal and institutional frameworks, powers, and responsibilities of competent authorities, and preventive measures for financial institutions and DNFBPs. Serbia's inclusion on FATF's regular follow-up procedure was triggered by the evaluation findings.

FATF 2024-2025 Annual Report: Mexican Presidency Achievements

The Financial Action Task Force (FATF) published its 2024-2025 annual report summarizing achievements under the Mexican presidency. The report covers FATF's ongoing work to combat money laundering, terrorist financing, and proliferation financing globally. Key accomplishments include progress on FATF Recommendations implementation, mutual evaluation outcomes, and FATF-style regional body activities worldwide.

U.S. Companies Exempt from BOI Reporting Under CTA Revision

FinCEN published an interim final rule on March 26, 2025, exempting all U.S. domestic entities and their beneficial owners from beneficial ownership information reporting under the Corporate Transparency Act. The revised rule narrows reporting obligations to foreign entities registered to do business in the U.S. Foreign entities registered before March 26, 2025 must file by April 25, 2025, while those registered on or after that date have 30 calendar days from registration notice to file.

Beneficial Ownership Reporting - Interim Final Rule Exempts US Entities

FinCEN issued an interim final rule removing beneficial ownership information (BOI) reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act. The rule narrows the definition of "reporting company" to only foreign entities registered to do business in the U.S. Foreign reporting companies must file BOI reports within 30 days of publication or registration notice. U.S. entities and beneficial owners are fully exempt from CTA reporting obligations.

FinCEN Exempts US Companies from BOI Reporting

FinCEN published an interim final rule on March 26, 2025, exempting all US companies and their beneficial owners from Beneficial Ownership Information reporting requirements under the Corporate Transparency Act. The rule revised the definition of "reporting company" to include only foreign entities registered to do business in the US, eliminating obligations for domestic companies. Foreign reporting companies face new compliance deadlines.

BOI Reporting Exemptions Under Corporate Transparency Act

FinCEN issued an FAQ clarifying that domestic U.S. companies are exempt from Beneficial Ownership Information (BOI) reporting under the Corporate Transparency Act following an interim final rule published March 26, 2025. The rule revised the definition of 'reporting company' to include only foreign entities registered to do business in U.S. states. Foreign entities still subject to reporting must file by April 25, 2025 (if registered before March 26, 2025) or within 30 days of registration (if registered on or after March 26, 2025).

FinCEN Proposes Rule to Reform AML/CFT Programs Under Bank Secrecy Act

FinCEN issued a proposed rule on April 7, 2026, to fundamentally reform anti-money laundering and countering the financing of terrorism (AML/CFT) programs for financial institutions under the Bank Secrecy Act. The proposal would shift compliance obligations from volume-based metrics to effectiveness-based evaluation, empower institutions to allocate resources based on their risk assessments, and clarify examiner expectations for program requirements. The rule withdraws a prior proposed rule from July 3, 2024, and introduces a notice and consultation framework between federal banking supervisors and FinCEN.

Whistleblower Incentives and Protections NPRM

FinCEN published a Notice of Proposed Rulemaking (NPRM) on whistleblower incentives and protections, seeking public comment on a proposed program to incentivize reporting of Bank Secrecy Act violations. The NPRM outlines potential financial rewards for whistleblowers whose tips lead to successful enforcement actions exceeding $1 million in sanctions. Comments are being accepted through the Federal Register docket.

Anti-Money Laundering and Countering the Financing of Terrorism Programs NPRM

FinCEN has released a Notice of Proposed Rulemaking (NPRM) regarding Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Programs. The proposed rulemaking seeks public comment on potential new or revised requirements for financial institutions' AML/CFT programs. This represents a significant regulatory initiative that may affect compliance obligations across the financial services sector.

Las Vegas Man Convicted of Methamphetamine and Fentanyl Trafficking and Money Laundering

A federal jury in Sioux Falls, South Dakota convicted Quantae Harris of Las Vegas, Nevada of three conspiracy charges: distribution of methamphetamine, distribution of fentanyl, and money laundering. The 5-day trial concluded with a verdict on March 27, 2026. Harris led a drug trafficking organization responsible for distributing over 100 pounds of methamphetamine and tens of thousands of fentanyl pills in the Sioux Falls area, and was linked to over $1.2 million in money laundering transactions.

8 Arrested in Healthcare Fraud Takedown Involving Hospice Owners

IRS-CI, FBI, DOJ, HHS-OIG, and Department of Labor announced a coordinated healthcare fraud takedown resulting in eight arrests, including three nurses, a chiropractor, and a psychologist. The defendants are charged with scheming to defraud the nation's healthcare system of more than $50 million by operating sham hospice facilities and billing Medicare for patients without terminal illnesses. The operation, dubbed 'Operation Never Say Die,' targeted hospice-related fraud in the Southern California region.

IRS Criminal Investigation Press Releases - March 2026

IRS Criminal Investigation published March 2026 press releases documenting federal enforcement actions including convictions for drug trafficking, money laundering, healthcare fraud, and tax evasion. Notable cases include a Las Vegas man convicted of methamphetamine distribution and money laundering conspiracy, eight individuals arrested in a healthcare fraud scheme involving hospice billing, and multiple tax preparers sentenced for fraud schemes.

Norfolk Man Sentenced to 3 Years 10 Months for PPP Fraud and Money Laundering

IRS Criminal Investigation announced the sentencing of Brian Renard Manley Jr. to 3 years and 10 months in federal prison for money laundering and unlawful monetary transactions connected to fraudulent Paycheck Protection Program loans. Manley and his co-defendant spouse obtained $700,000 in total fraudulent PPP funds ($350,000 each) by submitting applications containing fabricated tax returns created by a third party in Georgia.

Updated Ukraine Sanctions Notice - Swiss WBF Changes

FINMA Switzerland issued an updated sanctions notice regarding Ukraine following changes by the Swiss Federal Department of Economic Affairs, Education and Research (WBF) to the ordinance on measures relating to the Ukraine situation (SR 946.231.176.72). On March 31, 2026, WBF amended Appendix 8 of the ordinance, with changes taking effect April 1, 2026 at 23:00. Financial intermediaries must implement sanctions prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO.

CFTC Awards Over $1 Million to Whistleblower Who Aided a Digital Assets-Related Investigation

The Commodity Futures Trading Commission announced a whistleblower award of over $1 million to an individual who provided significant information and assistance that led the CFTC to bring an enforcement action connected to digital asset markets. The CFTC based its enforcement action on whistleblower-provided information about improper trading that was previously unknown to the agency. Since issuing its first award in 2014, the CFTC has granted whistleblower awards totaling approximately $380 million associated with enforcement actions resulting in nearly $3.2 billion in monetary sanctions.

CFTC Announces Four Whistleblower Awards Totaling $4.5 Million to Seven Recipients

The CFTC announced four orders granting whistleblower awards totaling approximately $4.5 million to seven whistleblowers, marking the most awards issued on a single day in the program's history. The awards recognize whistleblowers who provided information leading to successful enforcement actions, including victims of fraud, market participants, and employees who reported violations internally after 120 days without remedial action.

CFTC Awards Over $4 Million to Insider Whistleblower

The Commodity Futures Trading Commission announced an award of over $4 million to an insider whistleblower who provided information that enabled the Division of Enforcement to open an investigation into ongoing misconduct involving complex products and transactions. The whistleblower reported failures to comply with CFTC rules protecting against fraudulent, deceptive, and manipulative practices, and cooperated throughout the investigation.

CFTC Awards $4M to Two Whistleblowers for Enforcement

The CFTC announced nearly $4 million in awards to two whistleblowers who provided information leading to successful enforcement of a covered action. One whistleblower reported earlier and received a higher award based on timeliness factors among other considerations. The violations related to market integrity and CFTC investigation integrity. Since issuing its first award in 2014, the CFTC has granted approximately $390 million in whistleblower awards associated with enforcement actions resulting in over $3.2 billion in monetary sanctions.

CFTC Awards Approximately $700,000 to Whistleblower

The CFTC announced a whistleblower award of approximately $700,000 to an individual whose information prompted the agency to open an investigation and described misconduct that appeared in the enforcement order. The whistleblower provided substantial assistance that helped conserve Commission resources, though the award was reduced due to unreasonable delay in reporting and whistleblower culpability. Since 2014, the CFTC has granted awards totaling approximately $390 million associated with enforcement actions resulting in over $3.2 billion in monetary sanctions.

FINRA Foundation Research on Social Media Investors and Fraud Risk

The FINRA Investor Education Foundation released research examining retail investors who use social media and follow finfluencers. The study, based on the 2024 National Financial Capability Study, found that social media is successfully engaging younger and previously underrepresented investors, but these investors exhibit elevated fraud risk. Among social media users targeted for fraud, 68-69% lost money versus 26-29% for non-users, despite answering only 42% of investment knowledge questions correctly while 63% rated their knowledge as high.

FINRA Launches Financial Intelligence Fusion Center for Cybersecurity Threat Sharing

FINRA announced the launch of the Financial Intelligence Fusion Center (FIFC), a secure portal for member firms to share cybersecurity and fraud threat intelligence and coordinate responses. The portal was piloted with a diverse group of member firms and is now available for all member firms to opt into. The initiative expands FINRA's existing resources for cybersecurity guidance and is part of the FINRA Forward program.

FINRA Board approves five rule proposals under modernization initiative

FINRA's Board of Governors approved five rule proposals on March 4-5, 2026, as part of the FINRA Forward rule modernization initiative. The proposals address shortened exam waiting periods, electronic delivery of regulatory requests via FINRA Gateway, streamlined allocation approval requirements, alternative investment reconciliation adjustments, and arbitration procedure enhancements including arbitrator replacement processes.

FINRA Orders American Portfolios Financial Services to Pay $4.6M Restitution

FINRA ordered American Portfolios Financial Services to pay $4.6 million in restitution to approximately 85,000 customers affected by overcollection of fees and retention of undisclosed surplus interest in its bank deposit program between April 2018 and September 2022. The firm collected more than $3 million in aggregate fees beyond what its disclosed formula would have yielded, retained approximately $1.25 million in surplus interest, and was fined $550,000 for violations of FINRA and SEC rules.

FINRA Appoints Four New Board Governors

FINRA announced the appointment of four new Governors to its Board of Governors: Rostin Behnam (former CFTC Chairman), Tim Carter (former Piper Sandler CFO), Dan Gallagher (Robinhood CLO and former SEC Commissioner), and Heather Traeger (General Counsel at Texas Teacher Retirement System). The new governors bring diverse expertise in financial services, regulation, industry leadership, and public pension management to FINRA's 22-member Board.

South Africa Exits FATF Greylist After 32 Months

The FATF removed South Africa from its greylist on October 24, 2025, ending 32 months of increased monitoring that began in February 2023. South Africa completed all 22 Action Plan items, culminating in a successful on-site evaluation in July 2025. Going forward, South Africa must sustain its AML/CFT improvements and prepare for a mutual evaluation expected in the first half of 2026.

General Laws Amendment Bill 2025 - Public Comment on AML/CFT Reforms

South Africa's National Treasury has published the draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2025 for public comment through Government Gazette No. 53955. The Bill proposes amendments to four pieces of legislation including the Financial Intelligence Centre Act, Financial Sector Regulation Act, Companies Act, and Nonprofit Organisations Act to address AML/CFT deficiencies identified in the 2021 FATF Mutual Evaluation Report. Public comments are due 13 February 2026.

South Africa Exits FATF Grey List After 32 Months

The Financial Intelligence Centre announced South Africa's removal from the FATF grey list on 24 October 2025, ending 32 months of increased monitoring that began in February 2023. The removal follows successful remediation of deficiencies identified in the 2019 mutual evaluation, including enhanced DNFBP supervision capabilities and improved law enforcement collaboration. South Africa now prepares for its fifth round of mutual evaluations scheduled for 2026 to 2027.

Directive 11 of 2026: 2026 Risk and Compliance Return Submission Requirements

The South African Financial Intelligence Centre (FIC) issued Directive 11 of 2026 on March 31, 2026, mandating specified accountable institutions to submit their 2026 Risk and Compliance Return (RCR) electronically. The submission window opens May 4, 2026 and closes either June 30 or July 31, 2026 depending on the institution category. The directive requires completion of a self-assessment questionnaire covering ML, TF, and PF risks across three reporting years.

FIC 2024-25 Annual Report: Grey List Progress and Clean Audit

The Financial Intelligence Centre (FIC) released its 2024-25 annual report demonstrating continued progress in combating financial crime in South Africa. The report highlights that 55,262 registered institutions submitted over 13.4 million regulatory reports, contributing to approximately R144 million in recovered criminal proceeds. A FATF review team completed an on-site assessment in July 2025 to verify AML/CFT reforms, with a decision on South Africa's potential grey list exit expected at the October 2025 FATF plenary.

UK International Reserves - March 2026 Data

The Bank of England published its monthly UK International Reserves data for March 2026, reporting on the UK's official holdings of foreign currencies, gold, IMF special drawing rights, and reserves tranche position at the IMF. The data includes foreign currency liquidity information published alongside Bankstats tables. This is a routine monthly statistical release following the IMF's international reserves template.

Rise of Dynamic Personalised Pricing and Inflation Impact

The Bank of England's April 2026 Insights article examines how big data, artificial intelligence, and digital platforms are enabling more dynamic and personalised pricing across the economy. The analysis finds that despite widespread adoption in sectors like hospitality, these algorithmic pricing practices have not yet led to systematically higher or lower inflation. The article discusses implications for businesses, consumers, and policymakers, noting that future outcomes will depend on competition intensity and data availability.

QFCRA Amends Representative Office and Wholesale Advisory Rules

The QFC Regulatory Authority issued amendments to the Representative Office Rules 2020 and Investment Management and Advisory Rules 2014, effective 1 May 2026. The REPO amendments strengthen the authorization framework for representative offices, while INMA amendments introduce a regulatory framework for authorized firms conducting advisory business for wholesale customers. The changes are set out in two rule instruments: REPO and Miscellaneous Amendments Rules 2026 and INMA (Wholesale Advisory Firms) Amendments Rules 2026.

Warning About Fraudulent Website Impersonating Licensed Firm

QFCRA has issued an investor warning about fraudulent website snbinvests.com, which falsely represents itself as the official website of SnB Investments LLC(IC), a legitimate Investment Club licensed in the Qatar Financial Centre. The fraudulent website advertises financial services including corporate finance, asset finance, project finance, personal finance, home finance, and car finance despite having no connection to the licensed firm, the QFC, or Qatar.

QFCRA Launches New Brand Identity and Refreshed Logo

QFCRA announced the launch of a refreshed brand identity, including a new logo aligned with the updated visual identity of the Qatar Financial Centre. The brand update reflects QFCRA's continued evolution and its commitment to reinforcing a unified and cohesive identity within the QFC ecosystem.

Experts Credit Solutions fined for arranging unauthorized credit

QFCRA announced a settlement with Experts Credit Solutions Consultancy LLC (ECSC) for arranging credit facilities without authorization between January 2023 and October 2024. A reduced financial penalty of QAR 145,800 (USD 40,000) was imposed along with QAR 36,450 (USD 10,000) toward investigation costs. The penalty reduction reflected ECSC's early cooperation and implementation of remedial measures.