Week of August 24 - 30, 2026

🗓️  August 25, 2026

• Minutes of the Board's discount rate meetings on July 20 and July 29, 2026. The Federal Reserve Board released the minutes from its meetings on July 20 and July 29, 2026, to review and determine the discount rates for depository institutions. The process for setting the discount rate is different from the Federal Open Market Committee’s process for setting the federal funds rate target range. 🔗 Read more
• The EBA consults on revised technical standards for the reclassification of investment firms as credit institutions. The European Banking Authority (EBA) has launched a consultation on three draft Regulatory Technical Standards (RTS) regarding the reclassification of investment firms as credit institutions when their total assets exceed EUR 30 billion. These proposals address the calculation of total assets, reporting requirements, and conditions for granting waivers, aligning with the 2024 amendments to the Capital Requirements Directive (CRD). The consultation is open until 25 November 2026, and for the first time, the EBA is also consulting on factors for granting waivers, allowing firms to operate under an investment firm authorisation if granted. 🔗 Read more

🗓️  August 26, 2026

• SEC Obtains Modified Final Judgment Against Individual Charged with Defrauding Fellow Members of His Religion. The U.S. District Court for the Southern District of New York entered a modified final judgment against Evarist C. Amah, who was charged by the SEC with operating a fraudulent investment scheme. Amah raised approximately $698,000 from fellow members of his religion using false statements about investment performance. Initially, he was ordered to disgorge $10,000 in ill-gotten gains with $1,617.82 in interest and pay a civil penalty of $669,667. After the Second Circuit affirmed the liability and remedies but vacated the Advisers Act claims, the District Court modified the judgment, reducing the civil penalty to $446,458. 🔗 Read more
• SEC Announces Dismissal of Civil Enforcement Action Against Stephen E. Buyer.  On August 24, 2026, the Securities and Exchange Commission filed a joint stipulation with Defendant Stephen E. Buyer and Relief Defendant Joni L. Buyer to dismiss, with prejudice, the civil enforcement action against them. The decision to seek dismissal does not necessarily reflect the Commission’s position on any other case. 🔗 Read more
• SEC Files Settled Action Against Start-Up Artificial Intelligence Company and former CEO. The Securities and Exchange Commission filed settled charges against GenesisAI Corp. and its founder, Archil Cheishvili, for alleged misrepresentations about the company’s projected revenue, current valuation, and customer demand. From December 2019 through December 2024, they raised over $5.3 million from more than 4,000 investors through Regulation Crowdfunding and Regulation A offerings, falsely projecting revenue up to $250 million by 2024 and valuations exceeding $200 million in 2022. The SEC alleged that these projections were baseless, as the marketplace was not commercially viable, valuations were subjective, partnerships were unenforceable, and there was no customer waitlist. Without admitting the allegations, the Defendants consented to final judgments, with Cheishvili ordered to pay $50,000 in disgorgement, $9,184.53 in prejudgment interest, and a $50,000 civil penalty. 🔗 Read more
• SEC Files Settled Action as to North Carolina Trader Charged in Fraudulent "Free-Riding" Scheme. The Securities and Exchange Commission filed a settled action against Mayur Baviskar, alleging he engaged in a fraudulent “free-riding” scheme, withdrawing $6,078.16 in trading profits from over $1.4 million in securities without sufficient funds. Between March 2019 and September 2024, Baviskar initiated $377,200 of unfunded deposits into brokerage accounts at nine broker-dealers, exploiting instant credit before deposits were rejected or stop-payment orders were placed. Without admitting the allegations, Baviskar consented to a final judgment that would enjoin him from violating securities laws and require him to pay $6,078.16 in disgorgement, $1,914.41 in prejudgment interest, and a $50,000 civil penalty. 🔗 Read more
• The EBA consults on draft technical standards on institutions’ operational risk management. The European Banking Authority (EBA) has launched a public consultation on draft Regulatory Technical Standards (RTS) for operational risk management, which institutions must implement under Article 323 of the Capital Requirements Regulation (CRR3). The consultation, open until 31 December 2026, outlines harmonised requirements for governance, management processes, and systems to manage operational risk, with a focus on proportionality for institutions with a business indicator below EUR 750 million. The draft RTS also address ICT risk through the Digital Operational Resilience Act (DORA). 🔗 Read more

🗓️  August 27, 2026

• Federal Reserve Board issues enforcement action with former employee of Banco Popular de Puerto Rico. The Federal Reserve Board announced a consent prohibition order against Gadiel Rosario-Alvarado, a former employee of Banco Popular de Puerto Rico in San Juan, Puerto Rico, for the misappropriation of customer funds. 🔗 Read more
• SEC: 38 Entities Feigned Legitimacy as U.S. Advisers Through False Filings to Lure Retail Investors. Washington D.C. - The Securities and Exchange Commission charged 38 entities for making material misrepresentations in Forms ADV filed between 2025 and 2026 to falsely present themselves as legitimate advisory firms to U.S. investors. The complaints allege that the defendants, some using IP addresses from foreign jurisdictions, failed to substantiate information on their forms and made false claims about their business presence, ownership structure, and financial audits. The SEC seeks permanent injunctions, conduct-based prohibitions, and civil penalties against the defendants for violating the Investment Advisers Act of 1940. 🔗 Read more
• The EBA responds to the European Parliament’s observations made in the 2024 Discharge report. The European Banking Authority (EBA) today published an Opinion in response to the observations made by European Parliament in its 2024 Discharge Report covering all agencies, including the EBA. The EBA welcomes the overall positive feedback from the European Parliament. Only nine observations of the Parliament’s report directly mention the EBA, and none warrant the adoption of specific follow-up actions. 🔗 Read more

🗓️  August 28, 2026

• SEC Proposes Amendments to Exchange Act Rule 3a12-8 to Add European Union Debt Obligations. Washington D.C. - The Securities and Exchange Commission proposed amendments to Rule 3a12-8 to include the debt obligations of the European Union as “exempted securities” for futures marketing and trading, addressing inconsistencies in the current rule. This change would place EU debt futures under the CFTC’s jurisdiction, aligning with the treatment of several EU member states’ debt, while the underlying debt offerings remain under federal securities laws. The proposal is available on SEC.gov, with a 60-day comment period following its Federal Register publication. 🔗 Read more
• SEC Charges Advisory Firm with Falsifying Reports Filed with the Agency. The Securities and Exchange Commission announced charges against Ichcoin Tech Corp. for allegedly making false statements in its SEC filings regarding its eligibility as an exempt reporting adviser, office location, and other identifying information. The SEC’s complaint, filed in the Northern District of New York, claims Ichcoin falsely reported its status, office address, telephone number, and CRD number, and failed to provide substantiating records. Ichcoin is charged with violating Sections 204(a) and 207 of the Investment Advisers Act of 1940, with the SEC seeking a permanent injunction and a civil monetary penalty. 🔗 Read more
• CFTC Orders Gabriel Perez to Pay $172,000 for Insider Trading of Mention Market Event Contracts. Washington - The Commodity Futures Trading Commission announced charges against Gabriel Perez for misappropriating nonpublic information from his federal job to trade event contracts for personal gain. Perez must return $107,539.02 in profits and pay a $65,000 penalty, with the penalty reduced due to his cooperation. A three-year trading ban is imposed on Perez, who agreed to stop further violations. Between December 2025 and February 2026, Perez traded presidential mention market contracts using pre-speech access to presidential speeches, earning over $107,500. 🔗 Read more
• AUSTRAC issues notices to non-enrolled businesses. AUSTRAC has started issuing section 167 notices to businesses that appear to be providing designated services but have not enrolled under Australia’s AML/CTF laws, requiring them to provide information to determine compliance. CEO Brendan Thomas emphasized that enrolment is a legal obligation and crucial for protecting Australia from financial crime, urging businesses to actively manage risks and meet their obligations. The AML/CTF regime expanded on 1 July 2026 to include more sectors, and AUSTRAC is focused on helping businesses comply while warning that those ignoring the law will face scrutiny. 🔗 Read more