In a coordinated effort, the Department of Justice, the Federal Reserve Board, the Office of the Comptroller of the Currency and the Financial Crimes Enforcement Network imposed a record fine on a bank and its parent company for Bank Secrecy Act and anti-money laundering compliance violations.

The SEC charged "three companies purporting to be market makers and nine individuals for engaging in schemes to manipulate the markets for various crypto assets being offered and sold as securities to retail investors."

Two firms separately settled FINRA charges for failing to report data to the Consolidated Audit Trail Central Repository.

In line with the famous Churchillian statement "Never let a good crisis go to waste," regulators have reacted to varying degrees to the 2023 bank crisis.

In our last article, we noted a recent Banque de France bulletin which compared EU and US loss absorbing capacity (LAC) requirements.