Enforcement

OFAC Penalises Swiss Bank for Apparent Sanctions Violations

15/03/2024

OFAC said EFG International caused US firms to process 873 securities-related transactions on behalf of sanctioned individuals.

Fintech / Regtech

PBOC Releases Payment Services Guide for Foreign Visitors

14/03/2024

The guide introduces and provides instructions on a variety of payment methods available to foreigners in China.

Capital / Liquidity

ECB Announces Changes to Operational Framework

14/03/2024

The ECB will shrink its balance sheet, purge the system of excess liquidity, and incentivise banks to lend to each other.

Crypto / Digital Assets

Thai SEC to Allow Private Funds to Invest in Spot Crypto ETFs

14/03/2024

SEC Secretary General Pornanong Budsaratragoon said the funds can only be offered to institutional investors and ultra-high-net-worth investors.

Sanctions

US Extends Iran Sanctions Waiver Used by Iraq

14/03/2024

The waiver allows Iraq to pay Iran for electricity and natural gas imports into escrow accounts, where the funds can only be used for humanitarian supplies.

Sanctions

EU Considers Sanctions Package Targeting Russia Facilitators

14/03/2024

The EU sanctions could target Belarus, North Korea, Iran and other third countries where entities enable Russian access to weapons and sensitive technology.

Capital / Liquidity

China Directs Banks to Stop Issuing Guarantees for LGFV Bonds

14/03/2024

An estimated $445bn worth of public bonds issued by local government financing vehicles need to be repaid by the end of 2024.

China Pledges to More Support for Innovation, Green Development

14/03/2024

The NFRA is looking to enrich the green financial product ecosystem, and potentially using state-run asset managers to invest in innovative firms.

Sanctions

EU Parliament Approves Rules Criminalising Sanctions Violations

14/03/2024

Sanctions violations and circumvention will be punished with up to five years in jail for individuals and fines for companies.