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.

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.

Schneiderman v. American Chemical Society - Diversity Jurisdiction

The Second Circuit affirmed the dismissal of a disability discrimination lawsuit against the American Chemical Society, holding that 28 U.S.C. § 1332(c)(1)'s principal-place-of-business provision does not independently establish diversity jurisdiction for federally chartered corporations. The court ruled that such corporations, not incorporated under any state's laws, cannot establish diversity jurisdiction under the statute's plain text and Congress's intent to narrow diversity jurisdiction.

United States v. Goklu - Bitcoin Money Laundering Conviction Affirmed

The Second Circuit affirmed Mustafa Goklu's conviction for money laundering and operating an unlicensed money transmitting business based on bitcoin-for-cash exchanges. The court rejected challenges to jury empanelment, sufficiency of evidence, and jury instructions, holding that exchanging bitcoin for cash constitutes 'money transmitting' under federal law. Goklu's sentencing challenges were dismissed as moot since he completed his term of imprisonment.

In re: Kwok - Alter Ego Claim Affirmed in Bankruptcy Appeal

The Second Circuit affirmed that a Chapter 11 Trustee has standing to assert alter-ego claims on behalf of bankruptcy estate creditors. The court upheld the lower courts' conclusion that HK International Funds Investments (USA) Limited was the debtor's alter ego, meaning HK's assets belong to the bankruptcy estate of Ho Wan Kwok, a self-declared multi-billionaire. The ruling reinforces that bankruptcy courts may pierce the corporate veil to include alter-ego entities' assets in the estate.

Cruz v. Banks - Special Education Placement Affirmed

The Second Circuit affirmed the district court judgment in Cruz v. Banks, holding that the New York City Department of Education did not violate IDEA when it placed student O.F. in a 12:1:4 classroom. The court adopted the New York Court of Appeals ruling that 8 N.Y.C.R.R. § 200.6(h)(4) provides alternative placements rather than stacking requirements for students with disabilities and intensive management needs.

Trump Administration Imposes 100% Pharmaceutical Tariffs and Restructures Metals Tariffs Under Section 232

President Trump signed two presidential proclamations on April 2, 2026, invoking Section 232 of the Trade Expansion Act to impose 100% ad valorem tariffs on patented pharmaceuticals and active pharmaceutical ingredients (APIs), effective July 31, 2026, while also restructuring existing tariffs on aluminum, steel, and copper articles. The pharmaceutical tariffs cite that 53% of patented pharmaceutical products distributed domestically are foreign-produced, with reduced rates of 15% for Japan, EU, Korea, Switzerland, and Liechtenstein, and 10% for the UK.

Governor Healey Declares April Dig Safe Month 2026

The Massachusetts Department of Public Utilities joined the 2026 Dig Safe Awareness National Campaign following Governor Healey's proclamation declaring April as Dig Safe Month. The campaign promotes calling 811 before any outdoor digging project to prevent damage to underground gas, electric, telephone, and cable utility lines. In 2025, DPU investigated 2,645 excavation-related incidents resulting in over $15.4 million in civil penalties, with damage rates reduced by 37.25% since 2018.

Consultation on Representative Office and Wholesale Advisory Firm Amendments

The QFC Regulatory Authority has issued two Consultation Papers proposing amendments to the Representative Office Rules 2020 (REPO) and Investment Management and Advisory Rules 2014 (INMA). The proposed REPO amendments would tighten the authorisation framework for representative offices and make miscellaneous amendments to other parts of the regulatory framework. The proposed INMA amendments would introduce a new regulatory framework for authorised firms conducting advisory business for a new class of 'wholesale' customer. The Regulatory Authority is inviting public comments until 8 February 2026.