‍Week of August 3 - 9, 2026

🗓️  August 3, 2026

• SEC Files Proposed Settlement with Respect to Fraud and Market Manipulation Claims Against Gotbit Consulting LLC; Dismisses Claims Against Fedor Kedrov. The SEC filed a proposed final judgment in the U.S. District Court for the District of Massachusetts to settle fraud and market manipulation claims against Gotbit Consulting LLC, alleging that Gotbit manipulated a crypto asset market by generating artificial trading volume. Gotbit consented to a judgment that would permanently enjoin it from violating securities laws and participating in securities transactions, while also pleading guilty in a parallel criminal proceeding and receiving five years’ probation. The SEC’s investigation was conducted by a team from the Boston Regional Office and the Division of Enforcement’s Cyber and Emerging Technologies Unit. 🔗 Read more
• SEC Obtains Final Judgment against Investment Adviser Charged with Making Misrepresentations in SEC Filing. The U.S. District Court for the District of Colorado entered a final judgment by default against Adamant Stone Limited for making material misrepresentations and unsubstantiated statements in its SEC Form ADV. The SEC’s complaint alleged that Adamant Stone falsely claimed to be an Exempt Reporting Adviser, operated from Denver, managed $10 million in U.S. assets, advised a private fund, and had a separate RIA reporting on the fund, none of which were substantiated. The judgment permanently enjoins Adamant Stone from future violations and orders a civil penalty of $1,182,254. 🔗 Read more
• CFTC Orders UBS Financial Services Inc. to Pay $8 Million for Supervision Failures Impacting Its AML Transaction Monitoring Systems. Washington - The Commodity Futures Trading Commission announced charges against UBS Financial Services Inc. for failing to properly supervise its anti-money laundering transaction monitoring systems for foreign currency wire transfers, resulting in an $8 million penalty. From January 2019 to June 2023, UBS FSI’s deficiencies led to insufficient monitoring of thousands of FX wires, and despite transitioning to an automated system in 2021, issues persisted due to improper configuration. Related actions were also settled by the Financial Crimes Enforcement Network, the Securities and Exchange Commission, and the Financial Industry Regulatory Authority. 🔗 Read more
• FINRA Fines UBS Financial $20 Million for Anti-Money Laundering Violations. FINRA fined UBS Financial Services Inc. $20 million for anti-money laundering violations, highlighting failures in establishing and implementing an AML compliance program. Between January 2019 and June 2023, UBS Financial failed to monitor over 60,000 foreign currency wires totaling more than $10 billion, including those involving high-risk locations and excessive transfers. The firm also inadequately implemented its customer due diligence program, leading to incorrect risk ratings and insufficient scrutiny of transactions. In December 2018, UBS Financial was previously fined $4.5 million for similar issues, which persisted through June 2023 despite the implementation of an automated monitoring tool in February 2021. 🔗 Read more
• The EBA publishes a no-action letter and technical considerations to support the implementation of the market risk framework for EU banks. The European Banking Authority (EBA) published a no-action letter and technical clarifications regarding the boundary between the banking book and the trading book, as well as the calculation of own funds requirements for market risk under the European Commission’s Delegated Act. These measures aim to ensure a consistent and harmonized implementation of the revised FRTB framework across the EU, particularly for ‘multiplier banks,’ and address level-playing-field concerns. The EBA’s clarifications also cover material implementation issues and the treatment of institutions in the supervisory benchmarking exercise. 🔗 Read more
• EBA, EIOPA and ESMA propose amendments to bilateral margin requirements. The European Supervisory Authorities have published a final report proposing amendments to simplify the bilateral margin requirements for counterparties below the €8 billion threshold under the European Market Infrastructure Regulation. These changes aim to eliminate the requirement for exchanging initial margin for both new and existing contracts, aligning with market participant requests and the ESAs’ goals of simplification and burden reduction. The amendments also enhance consistency with practices in other jurisdictions. 🔗 Read more

🗓️  August 4, 2026

• Federal Reserve Board announces approval of the application by Coastal Bend Bancshares. The Federal Reserve Board on Tuesday announced its approval of the application by Coastal Bend Bancshares, Inc., of Corpus Christi, Texas, to acquire First National Bank in Port Lavaca, of Port Lavaca, Texas. 🔗 Read more
• Federal Reserve Board announces approval of the application by FS Bancorp, Inc. The Federal Reserve Board on Tuesday announced its approval of the application by FS Bancorp, Inc., of Mountlake Terrace, Washington, to merge with Pacific West Bancorp, and thereby indirectly acquire Pacific West Bank, both of West Linn, Oregon. 🔗 Read more
• Federal Reserve Board announces approval of the application by Banco Santander, S.A. and Santander Holdings USA, Inc. The Federal Reserve Board on Tuesday announced its approval of the application by Banco Santander, S.A., of Madrid, Spain, and Santander Holdings USA, Inc., of Boston, Massachusetts, to acquire Webster Financial Corporation, and thereby indirectly acquire Webster Bank, National Association, both of Stamford, Connecticut. 🔗 Read more
• SEC Settles Case Against Former New Jersey Corrections Officer Charged in Alleged Crypto Offering and Investment Fraud Schemes. The Securities and Exchange Commission filed a complaint against John A. DeSalvo, alleging he engaged in crypto offering and investment fraud schemes, raising at least $623,888 from 222 investors through the Blazar Token by falsely claiming it would replace state pension systems and was SEC-registered. DeSalvo also allegedly raised $95,000 from 17 investors in an earlier scheme. He consented to a final judgment enjoining him from securities violations and ordering him to disgorge $681,105, which will be satisfied by restitution in a parallel criminal case. 🔗 Read more
• FDIC Launches New Office of Supervisory Appeals. Washington - The Federal Deposit Insurance Corporation (FDIC) has launched a new Office of Supervisory Appeals (OSA) panel to handle appeals of material supervisory determinations, replacing the Supervision Appeals Review Committee. On January 22, 2026, the FDIC Board of Directors approved amendments to the agency’s Guidelines for Appeals of Material Supervisory Determinations, which are now effective with the OSA’s operational status. The FDIC has appointed three individuals as reviewing officials: Tim Ayala, a former banking executive and FDIC senior leader; John Conneely, a former FDIC senior executive with 35 years of experience; and Duke Sheow, who has over three decades of experience in financial institution supervision and regulation. 🔗 Read more
• FDIC Approves the Deposit Insurance Application for Augustus National Bank, N.A., Dallas, Texas. Washington - The Federal Deposit Insurance Corporation (FDIC) approved a deposit insurance application for Augustus National Bank, N.A., a newly chartered national bank to be headquartered in Dallas, Texas, with preliminary conditional approval received from the Office of the Comptroller of the Currency on May 8, 2026. The bank’s business model will focus on digital asset companies, high-net-worth individuals, AI and technology companies, and international financial institutions, with plans to issue a stablecoin if approved under the GENIUS Act. The FDIC found that Augustus National Bank satisfied the statutory factors for approval, subject to certain conditions, and the approval order expires if the bank is not established within twelve months unless extended. 🔗 Read more
• EBA publishes draft reporting framework for the 2027 eligibility data collection. As part of release 4.4 of its reporting framework, the European Banking Authority (EBA) has published a public working draft of the data model and taxonomy to support data collection on eligibility for direct supervision by AMLA. The data will be gathered in early 2027 from all obliged entities identified as provisionally eligible in 2026, to confirm their eligibility criteria as of 31 December 2026. Stakeholders are invited to submit feedback by 24 August 2026. 🔗 Read more

🗓️  August 5, 2026

• SEC Establishes Financial Reporting and Accounting Unit in Enforcement Division. Washington D.C. - The Securities and Exchange Commission announced the creation of a new Financial Reporting and Accounting Unit within the Division of Enforcement to focus on accounting and financial reporting fraud cases and general misconduct in accounting and auditing. Led by Timothy Zimmerman, the unit will collaborate with other SEC divisions to align with the Commission’s policy goals and will be staffed by attorneys and accountants with specialized skills. David Woodcock, Director of the SEC’s Division of Enforcement, emphasized the unit’s importance in enhancing efforts against bad actors in the accounting and auditing profession. 🔗 Read more
• Court Enters Final Judgment against Investment Adviser That Made Misrepresentations in SEC Filing. The U.S. District Court for the District of Columbia entered a final judgment against Wisdom Capital Management Group Ltd. for making material misrepresentations and unsubstantiated statements in a form filed with the SEC, ordering the defendant to pay over $1.1 million. The SEC’s complaint, filed on August 20, 2024, alleged that Wisdom falsely claimed to be an Exempt Reporting Adviser, a public company on Wall Street, and managed $10 million in private funds, among other inaccuracies. The judgment, entered by default, enjoins Wisdom from future violations and orders a civil penalty of $1,152,316. The SEC’s investigation is ongoing, conducted by a team from the Boston Regional Office. 🔗 Read more
• FDIC Issues List of Banks Examined for CRA Compliance. Washington - The Federal Deposit Insurance Corporation (FDIC) released a list of state nonmember banks evaluated for compliance with the Community Reinvestment Act (CRA) in May 2026. The CRA, a 1977 law, requires the FDIC to assess a bank’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. Under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Congress mandated public disclosure of CRA examination evaluations and ratings for banks or thrifts examined on or after July 1, 1990. 🔗 Read more
• The EBA consults on reporting framework for validation and monitoring of ISDA Standard Initial Margin Model. The European Banking Authority (EBA) is consulting on a new reporting framework to support the validation and monitoring of initial margin models based on the ISDA SIMM. The proposed framework aims to provide consistent, high-quality information for the EBA’s role as central validator under EMIR, while ensuring a proportionate approach that minimizes compliance costs, especially for firms with less significant OTC trading activities. The consultation is open until 2 November 2026. 🔗 Read more

🗓️  August 6, 2026

• SEC Settles Litigation with Oklahoma Resident and Company Charged in Alleged $5 Million Securities Fraud. The Securities and Exchange Commission filed consents and proposed final judgments against defendants Anthem Blanchard and Anthem Holdings Company for allegedly orchestrating a $5 million securities fraud. The SEC’s complaint, filed on September 23, 2024, accused them of making false statements to investors, leading to the raising of $5 million from about 200 investors and over $200,000 from two investors. Without admitting the allegations, Blanchard and Anthem Holdings agreed to be permanently enjoined from certain securities activities and to pay civil penalties, with the litigation conducted by the SEC’s Denver Regional Office. 🔗 Read more
• SEC Files Proposed Final Judgment as to Company CEO in Alleged Offering Fraud. The U.S. Securities and Exchange Commission filed a proposed final consent judgment against Christopher Vaughan in its civil enforcement action against Thompson Hunt and Associates, Ltd., its founder Carl Arnal (a/k/a Michael Cohen), and its CEO, Vaughan, among others. The complaint alleged that Vaughan participated in an unregistered offering and made material misrepresentations to investors. Without admitting the allegations, Vaughan consented to a judgment that enjoins him from violating certain securities laws, orders him to pay a $90,000 civil penalty, and bars him from serving as an officer or director of a public company. 🔗 Read more
• EBA ESG risk dashboard shows stable climate risk exposures and continued improvements in data quality. The European Banking Authority’s latest ESG risk dashboard shows stable transition and physical climate risk indicators in the EU/EEA banking sector for the second half of 2025. There are gradual improvements in climate-related data quality, especially for energy efficiency assessments of mortgage portfolios, supporting better climate risk monitoring. While banks’ exposures to climate-contributing sectors and mortgage energy efficiency categories remained stable, significant differences in physical climate risk exposures persist across jurisdictions. 🔗 Read more
• AMLA launches survey on Central Contact Points. AMLA is inviting Electronic Money Institutions (EMIs) and Payment Service Providers (PSPs) to provide feedback on their experience with the current Central Contact Point (CCP) framework under Article 45 (9) AMLD and Delegated Regulation (EU) 2018/1108. This feedback is part of AMLA’s preparatory work for the upcoming Regulatory Technical Standard on Art. 41 (2) AMLD, aiming to gather practical insights into the implementation and effectiveness of the framework across the EU. Crypto-asset service providers are not included, as the previous CCP framework did not apply to them. 🔗 Read more

🗓️  August 7, 2026

• CFTC Reminds Markets to Display Clear Pricing Information. Washington - The Division of Market Oversight and the Market Participants Division of the Commodity Futures Trading Commission issued a letter to remind regulated entities of their responsibility to provide clear and accurate pricing information for derivatives products. They cautioned against using the “American” odds format, which could mislead participants and deprive them of market depth indicators. The divisions emphasized that misleading pricing information risks violating federal law against manipulative devices. 🔗 Read more
• ECB publishes consolidated banking data for end-March 2026. The aggregate of total assets of EU-headquartered credit institutions increased by 3.63%, from €33.13 trillion in March 2025 to €34.33 trillion in March 2026. During the same period, EU credit institutions’ aggregate non-performing loans ratio increased by 0.02 percentage points year on year to stand at 1.98% in March 2026. EU credit institutions’ aggregate return on equity was 2.44% in March 2026 and their Common Equity Tier 1 ratio was 16.27%. 🔗 Read more