Enforcement

Trafigura Agrees to Pay $126m to Settle FCPA Violations

01/04/2024

The DOJ says Trafigura bribed Brazilian officials from 2003 and 2014 to illegally obtain and retain business and reap over $61mn in profits.

Enforcement

Korea FSS to Seek Out and Expel ‘Zombie Companies’ from Market

01/04/2024

The FSS says companies that use false capital injections and accounting fraud to avoid delisting are impeding the financing of productive companies.

AML / KYC

‘COSMIC’ Information Sharing Platform Launches in Singapore

01/04/2024

COSMIC allow banks to share information on suspicious customers or transactions to help detect and prevent financial crime.

Sanctions

Russia Blocks UNSC Resolution to Extend Mandate of DPRK Expert Panel

31/03/2024

The Russian veto will force the panel of experts to disband at the end of April, though the UNSC sanctions against North Korea will remain in place.

Fintech / Regtech

Japan Develops AI Model to Help Regional Banks Identify Risk

31/03/2024

The AI model can identify businesses that are showing signs of deterioration so banks can provide support before financial difficulties become insurmountable.

Securities / Derivatives

SFC Proposes to Allow REITs to Privatise and Merge More Easily

31/03/2024

Various market conduct regimes designed for listed companies would also be extended to listed CIS including REITs.

ESG / Sustainability

ASEAN Releases Version 3 of Sustainable Finance Taxonomy

31/03/2024

Version 3 introduces TSC for two more focus sectors, namely transportation & storage and construction & real estate.

Crypto / Digital Assets

FTX Founder Sam Bankman-Fried Sentenced to 25 Years

31/03/2024

The judge also ordered the forfeiture of more than $11bn for properties and assets Bankman-Fried bought with customer funds.

Crypto / Digital Assets

Korea Sets Out Procedures for Dealing with ‘Unfair’ Crypto Trades

31/03/2024

The proposed operating rules will come into force from 19 July, when the new Virtual Asset User Protection Act also takes effect.