Aggregated News From Investment Management Regulators

UST US

SAVE THE DATE: U.S.-EU Trade and Technology Council – 2022 Outreach to Stakeholders on Investment Screening

The U.S. Department of the Treasury is pleased to announce the second Joint Virtual U.S.-EU TTC Stakeholder Outreach event co-hosted with the European Commission’s DG TRADE Unit F4 Technology and Security, FDI Screening and the U.S. Department of State. The event will take place virtually on December 13, 2022, 10:00 – 11:00 EST. This event will provide the opportunity for interested stakeholders to learn, discuss, and share their perspectives with representatives from the EU and U.S. government on investment screening related matters. As identified in the Pittsburgh Statement, we acknowledge the importance of and share a commitment to consulting closely with diverse...

Treasury Announces Seven Additional States to Receive up to $1.5 Billion from U.S. Treasury Department to Promote Small Business Growth and Entrepreneurship through the...

Florida, Georgia, Illinois, Louisiana, North Dakota, Oklahoma, and Virginia Approved to Receive Federal Funding Through the State Small Business Credit Initiative  Today, the U.S. Department of the Treasury announced the approval of seven additional state plans for up to $1.5 billion in funding under the State Small Business Credit Initiative (SSBCI). Treasury has now announced the approval of state plans totaling up to $6.3 billion in SSBCI funding. “This is an historic investment in entrepreneurship, small business growth, and innovation through the American Rescue Plan that will help reduce barriers to capital access for traditionally underserved communities,” said Secretary of the...

Readout of Secretary of the Treasury Janet L. Yellen’s Meeting with Moldovan President Maia Sandu

Today, U.S. Secretary of the Treasury Janet L. Yellen met with Moldovan President Maia Sandu. Secretary Yellen pledged the United States’ continued support to Moldovan efforts to combat corruption and counter Russian influence, including through close collaboration on sanctions actions and enforcement. She also discussed Moldova’s efforts to address the spillovers from Russia’s illegal war against Ukraine and, in particular, the effects on Moldova’s economy and energy security. This news item was originally published by the US Department of the Treasury (UST US). For more information, please see the Source Link.

Remarks by Assistant Secretary Elizabeth Rosenberg at the ACI Annual Conference on Economic Sanctions

As Prepared for Delivery Good afternoon, everyone. It is my great pleasure to be here with all of you today to discuss the importance and implications of economic sanctions. As you all know, in February of this year, Russia launched an unprovoked war in Europe. To this day, Russia has chosen violence and death. Moscow continues to launch missiles into Ukraine—attacking the civilian power grid, which will cause electricity and heating blackouts in the middle of winter; damaging residential buildings hundreds of miles away from the border; and killing innocents. This kind of warfare is of course a direct attack on Ukraine’s...

Remarks by Secretary of the Treasury Janet L. Yellen at Inaugural Meeting of Treasury Advisory Committee on Racial Equity

Today, Secretary of the Treasury Janet L. Yellen delivered opening remarks at the first meeting of the Treasury Advisory Committee on Racial Equity (TACRE). The first-of-its-kind committee aims to provide advice and recommendations to Secretary Yellen and Deputy Secretary Wally Adeyemo on efforts to advance racial equity in the economy and address acute disparities for communities of color. As Prepared for Delivery Good morning, everyone. Welcome to the Treasury Department. And welcome to the first meeting of the Treasury Advisory Committee on Racial Equity. I’d like to thank you for being here today, and for the work that you’ve graciously agreed to...

Remarks by Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg ABA-ABA Financial Crimes Enforcement Conference

As Prepared for Delivery Thank you for the opportunity to speak with all of you. This is a momentous time for anti-money laundering and countering the financing of terrorism, AML/CFT, policy. Sanctions are frequently on the front page of the major papers, and compliance is receiving unprecedented attention across a number of industries. However, before I go into these topics, I want to acknowledge the untimely passing of the American Bankers’ Association’s Rob Rowe. Rob was a formidable foe at times, but he was an outstanding friend to our industry. His expertise and passionate commitment to anti-money laundering policy and rulemaking...

FACT SHEET: Limiting Kremlin Revenues and Stabilizing Global Energy Supply with a Price Cap on Russian Oil

Following agreement by the 27 Member States of the European Union (EU), the members of the G7 (the United States, Canada, France, Germany, Italy, Japan, and United Kingdom) and Australia (collectively, the “Price Cap Coalition”) are joining the EU in adopting a price cap of $60/barrel on seaborne crude oil of Russian Federation origin. The price cap is an important tool to restrict the revenue Russia receives to fund its illegal war in Ukraine, while also maintaining a reliable supply of oil onto global markets. This policy is especially critical to make oil supplies available in low- and middle-income...

READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with French Finance Minister Bruno Le Maire

Earlier today, U.S. Secretary of the Treasury Janet L. Yellen met with French Finance Minister Bruno Le Maire. Secretary Yellen expressed her appreciation for Minister Le Maire and France’s close cooperation on actions that will deprive the Kremlin of revenues it needs to wage its illegal war on Ukraine.  Secretary Yellen affirmed the shared commitment to a strong partnership on energy security; climate ambition; global taxation; and resilient, reliable supply chains, including with other European partners. This news item was originally published by the US Department of the Treasury (UST US). For more information, please see the Source Link.

Statement by Secretary of the Treasury Janet L. Yellen on the Announcement of the Price Cap

Secretary of the Treasury Janet L. Yellen released the following statement following the announcement of the price cap. “Together, the G7, European Union, and Australia have now jointly set a cap on the price of seaborne Russian oil that will help us achieve our goal of restricting Putin’s primary source of revenue for his illegal war in Ukraine while simultaneously preserving the stability of global energy supplies. Today’s announcement is the culmination of months of effort by our coalition, and I commend the hard work of our partners in achieving this outcome. The price cap will encourage the flow of discounted...

Community Finance Policy

By Assistant Secretary for Financial Institutions Graham Steele Over the past several months, I have had the opportunity to meet with dozens of community finance practitioners and thought leaders, advocacy organizations, and investors who are all working to strengthen the financial infrastructure we need to invest in the economic potential of financially underserved communities across the country.  To a person, I have heard the same hopeful message from all of them: historic investments in Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDI) by federal and private sector partners are catalyzing increased capacity in the field and are clear...

U.S. Sanctions Additional Corrupt Haitian Politicians for Drug Trafficking

United States and Canada Targeting Haiti’s Corruption and Drug Trade Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Haitian nationals Rony Celestin (Celestin) and Richard Lenine Hervé Fourcand (Fourcand) pursuant to Executive Order (E.O.) 14059 of December 15, 2021, “Imposing Sanctions on Foreign Persons Involved in the Global Illicit Drug Trade.” Celestin is a current Haitian senator. Fourcand is a former Haitian senator. OFAC designated Celestin and Fourcand for having engaged in, or attempted to engage in, activities or transactions that have materially contributed to, or pose a significant risk of materially contributing to, the...

Treasury Targets Workers’ Party of Korea Officials Supporting DPRK Weapons Programs

Action Taken in Close Coordination with the Republic of Korea and Japan The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today sanctioned three individuals for being officials of the Workers’ Party of Korea (WPK). These individuals have provided support to the Democratic People’s Republic of Korea’s (DPRK) development of weapons of mass destruction (WMD) and ballistic missiles. On November 18, 2022, the DPRK launched an intercontinental ballistic missile (ICBM), marking the eighth ICBM launch this year. This ICBM launch, along with the over 60 additional ballistic missile launches conducted by the DPRK in 2022, clearly violate multiple...

Regulator Information

Abbreviation: UST
Jurisdiction: United States

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