A UK-based cigarette manufacturer settled potential civil liability for sanctions violations related to a scheme to export tobacco to North Korea, and causing U.S. financial institutions to process North Korean bank wire transfers.

The House Financial Services Committee reviewed multiple legislative proposals on capital formation. The Committee also considered a set of bills to reform the CFPB.

ISDA CEO Scott O’Malia reported that ISDA continues to work with global policymakers to improve margining practices that can mitigate the impact of "extreme" volatility.

The CFPB, DOJ, FTC and Equal Employment Opportunity Commission reaffirmed their commitment to monitoring the development and use of artificial intelligence to ensure “responsible innovation” and protect individuals’ rights.

CFTC Commissioner Christy Goldsmith Romero highlighted risks created through the use of digital assets.