Sanctions

Russia, China Working on Regulations to Facilitate Barter Trade – Reports

10/08/2024

New regulatory arrangements being put in place are expected to enable barter deals between Russia and China involving agriculture “as soon as this autumn”.

AML / KYC

Cayman Islands: New Beneficial Ownership Regime Commences

09/08/2024

Beneficial ownership information will not yet be available to the public in light of the November 2022 ruling by the European Court of Justice.

Enforcement

FSC Korea to Expand Enforcement Toolkit to Target Unfair Trading

09/08/2024

Those found engaging in unfair trading activities will face a 10-year ban on trading in the capital market and potentially have their names disclosed publicly.

Enforcement

Evergrande Liquidators Are Suing PwC for Damages – Report

09/08/2024

The writ of summons accuses PwC of breach of contract, breach of duty, misrepresentation, negligence, and/or unjust enrichment.

Fintech / Regtech

KRX Hires AI Firm to Develop Short-Selling Detection System

09/08/2024

KRX has signed a service contract with Conan Technology to develop its new short-selling detection system.

Capital / Liquidity

US Fed Finalises New Guidance on Banks Resolution Plans

09/08/2024

The final guidance generally applies to banks, including foreign banks, with over $250bn in total assets, but not G-SIBs.

Crypto / Digital Assets

US Court Approves $12.7B Settlement Between CFTC, FTX

09/08/2024

The CFTC’s Ian McGinley said the settlement represents the largest recovery for investors in the regulator’s history.

Enforcement

Asset Manager H2O Avoids UK Fine by Agreeing to Repay Investors

09/08/2024

The FCA decided not to impose a fine despite “extremely serious” regulatory breaches that resulted in investors being trapped in funds since 2020.

ESG / Sustainability

Malaysia to Develop Fundraising Platform for Domestic Carbon Projects

09/08/2024

Bursa Malaysia is establishing a new industry working group to help develop a conceptual framework for the new fundraising platform.