Fintech / Regtech

China UnionPay Launches Project to Optimise Payment Services

18/03/2024

China UnionPay will spend CNY 3 billion on acceptance terminal upgrades, signage placement and publicity in key cities.

Japan to Offer Investment Visas to Venture Capitalists – Report

18/03/2024

A new five-year residency visa will reportedly be available to angel investors and venture capitalists in the next few months.

Enforcement

FSC Korea to Take Hana CEO DLF Case to Supreme Court

18/03/2024

The FSC has decided to appeal a High Court ruling that nullified a reprimand warning imposed on Hana Financial Group CEO Ham Young-joo in 2020.

Capital / Liquidity

HKMA Finalises Rules on Market Risk, CVA Risk Capital

18/03/2024

The HKMA said the revised market risk and CVA risk capital frameworks will come into effect “on a day to be appointed”, but intended to be 1 January 2025.

Sanctions

Russia Imposes New Personal Sanctions on 227 US Citizens

17/03/2024

The sanctions target several current and former State Department officials, along with journalists, researchers, and members of the business community.

Sanctions

OFAC Targets Another Vessel Over Iran Commodity Shipments

17/03/2024

The sanctions target a Panama-flagged vessel which OFAC says headed to China carrying Iranian commodities received on behalf of a Houthi financial facilitator.

Sanctions

G7 Warns of Sanctions if Iran Delivers Missiles to Russia

17/03/2024

If Iran delivers ballistic missiles to Russia, Iran Air flights to European cities could be suspended, among other unspecified measures.

AML / KYC

BSP Directs Banks to Prioritise PhilID in Customer KYC, Verification

15/03/2024

The BSP has identified the national ID, which is part of PhilSys, as a driver of financial inclusion in the Philippines.

Enforcement

US Regulators Announce $350m Penalty for JPMorgan

15/03/2024

The action, taken to address trade surveillance deficiencies, requires the bank to seek regulatory approval to onboard any new trading venue.