Securities / Derivatives

PBOC Requests Daily Reports from FIs on Bond Holdings

08/08/2024

NAFMII has also launched a probe against four rural commercial banks over suspected manipulation in the treasury bond market.

AML / KYC

US, Germany Take Down Illicit Crypto Platform Cryptonator

08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

Fintech / Regtech

US Lawmakers Introduce Regulatory Sandbox Bill for AI

08/08/2024

The legislation would require the Fed, SEC, OCC, CFPB, FDIC, FHFA, and NCUA to establish regulatory sandboxes for AI experimentation.

AML / KYC

Taiwan FSC Imposes AML Fine on Crypto Firm Rybit

07/08/2024

Rybit failed to properly conduct customer risk assessments, confirm customer identities, and retain complete records, among other violations.

AML / KYC

HKMA Expands FINEST Platform to Ten Participating Banks

07/08/2024

HKMA’s Raymond Chan said the proposal to expand FINEST to allow sharing of personal account information received broad support.

Tesla Seeks to Launch Insurance Broking Firm in China

07/08/2024

Tesla has registered a new insurance broking firm in China, but will need approval from the NFRA to formally enter the EV insurance market.

Enforcement

Chinese State-Owned FIs Instructed to Drop PwC – Report

07/08/2024

BOC, China Life Insurance, and PICC are among more than 30 listed Chinese companies that have dropped PwC as their auditor this year.

Fintech / Regtech

US Regulators to Jointly Adopt Common Data Standards

06/08/2024

The Federal Reserve, SEC, CFTC and six other agencies will adopt common identifiers including the LEI and UPI.

Enforcement

Switzerland Announces $152mn Penalty Order Against Glencore

06/08/2024

The penalty order resolves a four-year criminal investigation into Glencore by Swiss and Dutch authorities.