AML / KYC

FinCEN Proposes Rule to Enhance FIs’ AML/CFT Programmes

02/07/2024

The rule will explicitly require AML/CFT programmes to be “effective, risk-based, and reasonably designed” based on a risk assessment.

AML / KYC

US Sanctions Two Chinese Nationals for Assisting Sinaloa Cartel

01/07/2024

The sanctions include two China-based targets who helped launder illicit drug proceeds belonging to Mexico’s Sinaloa Cartel.

Securities / Derivatives

ISDA Confirms Plans to Develop Industry Notices Hub

01/07/2024

ISDA received “strong support” for the plan and will now work with S&P Global Market Intelligence and Linklaters to build the platform.

Securities / Derivatives

Korea Extends Daily FX Trading Hours to 2am

01/07/2024

Onshore dollar-won trading now trades until 2am each day, compared to 3.30pm previously.

Securities / Derivatives

Euroclear, Clearstream Enable Omnibus Access to KTB Market

01/07/2024

Euroclear and Clearstream have launched direct links with Korea allowing global investors to trade Korean government bonds using omnibus accounts.

Sanctions

US Sanctions 3 Entities, 11 Vessels Over Iran’s ‘Nuclear Escalations’

01/07/2024

US Secretary of State Antony Blinken said Iran’s plans to further expand its nuclear programme “have no credible peaceful purpose”.

Securities / Derivatives

Japan: More Investors Sue MUFG Unit Over Credit Suisse AT1 Losses

01/07/2024

The lawsuit brings the number of plaintiffs in similar cases against Mitsubishi UFJ Morgan Stanley Securities to over 100.

Sanctions

EU Imposes New Restrictive Measures Against Belarus

01/07/2024

The measures mirror several of the restrictive measures already in place against Russia to address circumvention.

Market Infrastructure

EU Legislatoes Agree on MiFIR, MiFID II Revisions

30/06/2024

The revisions will establish EU-level ‘consolidated tapes’ for different kinds of assets, and impose a general ban on ‘payment for order flow’.