- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-11-26T14:53:00
Hedge fund manager Scott Bessent, named by Donald Trump on Friday as his nominee for Treasury Secretary, has a clear mandate to deregulate the financial markets should he take the helm.
Bessent, the billionaire CEO and founder of Connecticut-based Key Square Group, is well-known on Wall Street. According to Trump’s announcement of his nomination on Truth Social, Bessent has been an investment manager for 35 years.
According to CBS News, Bessent is also a protégé of billionaire George Soros and was an executive with Soros Fund Management before launching Key Square Group.
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The U.S. Treasury Department has issued a final rule–and created a new division to oversee it–that will attempt to limit outbound investments to China related to sensitive technologies with military applications.
The Treasury Department’s efforts to eliminate regulation loopholes that help enable money laundering in the U.S. financial system will remain a top priority as part of the agency’s 2024 national illicit finance strategy.
Three Russia-based companies and an individual were designated by the U.S. Treasury Department for trying to recapture more than $1.5 billion in frozen shares owned by a previously sanctioned Russian oligarch using a complex evasion scheme.
French defense and aviation contractor Thales Group is under investigation by authorities in the U.K. and France for allegedly participating in bribery and corruption.
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
