Aggregated News From Investment Management Regulators

UST US

U.S. Treasury Supports National Action Plan to Combat Human Trafficking

As a part of the Biden Administration’s commitment to fight against human trafficking, the U.S. Department of the Treasury announced measures to contribute to the updated National Action Plan (NAP) to Combat Human Trafficking and play a part in countering this grave human rights abuse. The NAP brings a whole-of-government approach to address a range of key topics, including prevention, protection, and prosecution, and also establishes interagency partnerships to support cross cutting initiatives. The plan also draws upon survivor-leader experiences and expert contributions to help prevent human trafficking and better utilize resources to respond to the needs of survivors. Treasury...

Treasury Expands Sanctions Against Belarusian Regime with Partners and Allies

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), in response to the Lukashenka regime’s blatant disregard for international norms and the wellbeing of its own citizens, is designating 20 individuals and 12 entities and identifying three aircraft as blocked property pursuant to Executive Orders (E.O.) 14038 and 13405. The persons designated today have enabled the regime’s migrant smuggling into the European Union (EU), have taken part in the ongoing crackdown on human rights and democracy, and have propped up the regime financially. As part of today’s action, Treasury is also imposing restrictions on dealings...

Remarks by Deputy Secretary of the Treasury Wally Adeyemo at the Aspen Economic Strategy Group’s Rebuilding the Post-Pandemic Economic Recovery Event

Deputy Secretary of the Treasury Wally Adeyemo delivered the following remarks at the Aspen Economic Strategy Group’s Rebuilding the Post-Pandemic Economic Recovery event. As prepared for delivery Thank you very much to the Aspen Economic Strategy Group for inviting me to join you for this important conversation. As a former member of the Economic Strategy Group, I am well aware of this group’s ability to produce and disseminate powerful ideas that will help create shared, lasting prosperity. I first joined the Department of the Treasury in February 2009, in the midst of the Great Recession. Real GDP peaked in the second quarter of...

READOUT: Secretary of the Treasury Janet L. Yellen’s Virtual Meeting with Technology CEO Council

U.S. Secretary of the Treasury Janet L. Yellen attended a virtual meeting with the Technology CEO Council (TCC), a policy advocacy organization for the country’s leading information technology companies and manufacturers. Secretary Yellen highlighted the progress being made on America’s economic recovery and outlined steps the Biden-Harris Administration is taking to address semiconductor shortages and supply chain constraints. TCC and the Secretary discussed how the bipartisan infrastructure law will enable deployment of 5G networks and help more Americans be connected to the economy. They also talked about the Administration’s engagement on trade with other nations. Secretary Yellen further highlighted...

Emergency Rental Assistance Program Surpasses 2.5 Million Payments to Renters and Landlords

More than 521,000 renters received Emergency Rental Assistance in October, totaling more than $2.8 billion in payments. State and local governments provided assistance to more than 521,000 renters and landlords in October through the Department of the Treasury’s Emergency Rental Assistance (ERA) programs, bringing the total number of payments for the ERA programs to more than 2.5 million. Over the last six months, Treasury’s efforts to provide grantees with additional flexibilities and highlight promising practices have helped speed up the pace at which these funds are reaching renters in need. Treasury now projects that approximately $25 to $30 billion of combined...

READOUT: Secretary of the Treasury Janet L. Yellen’s Call with Finance Minister Shunichi Suzuki of Japan

Earlier today, Secretary of the Treasury Janet L. Yellen spoke with Japanese Finance Minister Shunichi Suzuki.  Secretary Yellen shared her perspectives on developments in the U.S. economy and welcomed ongoing collaboration between the United States and Japan across a range of common priorities in the Indo Pacific and globally.  The Secretary looks forward to continuing to strengthen the bilateral relationship and to working closely with Japan to advance shared interests like supporting a broad-based and durable recovery from the pandemic. This news item was originally published by the US Department of the Treasury (UST US). For more information, please see...

READOUT: Deputy Secretary of the Treasury Wally Adeyemo Highlights American Rescue Plan Investments and Build Back Better Act in Nevada

Today, Deputy Secretary of the Treasury Wally Adeyemo visited with families in Nevada to discuss how families are benefiting from the expanded and monthly Child Tax Credit (CTC) from the American Rescue Plan and how the Build Back Better Act will cut costs for millions of Americans. In the morning, Deputy Secretary Adeyemo joined Rep. Steven Horsford (NV-04) at Acelero Head Start, a Head Start provider in Nevada, for a roundtable discussion with recipients of the CTC and community organizations that have helped qualifying families learn about and sign up for the benefit. At the roundtable, Deputy Secretary Adeyemo heard...

U.S. Treasury Expands Syria Nongovernmental Organizations General License

Amends Syria Sanctions Regulations and Issues Two New FAQs Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the Syrian Sanctions Regulations (SySR) to expand the authorizations for nongovernmental organizations (NGO) to engage in certain transactions and activities.  This action — which builds upon the U.S. government’s longstanding humanitarian exemptions, exceptions, and authorizations in the Syria sanctions program — helps ensure the continued provision of humanitarian assistance, including certain early-recovery activities, that benefit the Syrian people.  Treasury’s recent sanctions review highlighted the need for continued review of existing authorities to facilitate legitimate humanitarian activity while continuing...

Treasury Announces Agreement on the Transition from Existing Indian Equalization Levy to New Multilateral Solution Agreed by the OECD-G20 Inclusive Framework

Last month, an historic agreement was reached between 137 countries of the OECD-G20 Inclusive Framework – representing nearly 95% of the world’s GDP – on a two Pillar package of reforms to the international tax framework to be implemented in 2023. These reforms will provide for a tax framework that is fairer, more stable, and better equipped to meet the needs of a 21st century global economy. In support of that agreement, the United States supports India’s announcement of their agreement to a transition from the existing India equalization levy to the new multilateral solution, and India and the United States have committed to working together...

The United States and Turkey Announce Agreement on the Transition from Existing Digital Services Tax to New Multilateral Solution Agreed by the OECD-G20 Inclusive...

Last month, an historic agreement was reached between 137 countries of the OECD-G20 Inclusive Framework – representing nearly 95% of the world’s GDP – on a two Pillar package of reforms to the international tax framework to be implemented in 2023. These reforms will provide for a tax framework that is fairer, more stable, and better equipped to meet the needs of a 21stcentury global economy. In support of that agreement, the United States and Turkey have today announced the terms of an agreement on the transition from the existing Turkish Digital Services Tax to the new multilateral solution and have...

Joint Statement from the United States and Turkey Regarding a Compromise on a Transitional Approach to Existing Unilateral Measures During the Interim Period Before...

On October 8, 2021, the United States and Turkey joined 134 other members of the OECD/G20 Inclusive Framework (including Austria, France, Italy, Spain, and the United Kingdom) in reaching political agreement on the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalization of the Economy. On October 21, 2021, the United States, Austria, France, Italy, Spain, and the United Kingdom reached a political compromise on a transitional approach to existing Unilateral Measures while implementing Pillar 1 (“Unilateral Measures Compromise”).  The Unilateral Measures Compromise is reflected in the joint statement that was issued by...

Treasury Designates Key Financial Facilitator for the Islamic State’s Afghanistan Branch

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Ismatullah Khalozai, an individual who has acted as a financial facilitator for the Islamic State’s Khorasan Province (ISIL-Khorasan), active in Afghanistan and commonly referred to as “ISIS-K.” This individual has provided support to ISIS-K’s operations in Afghanistan by facilitating international financial transactions that fund human trafficking networks and facilitating the movement of foreign fighters who seek to escalate tensions in Afghanistan and the region. “The Biden Administration is committed to rooting out terrorist financing networks around the world,” said Director of the Office of Foreign Assets...

Regulator Information

Abbreviation: UST
Jurisdiction: United States

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