Sanctions

Iraq’s Al-Huda Bank Cut Off from US Financial System

27/06/2024

FinCEN rule identifies Al-Huda Bank as a “foreign financial institution of primary money laundering concern”.

Enforcement

OFAC Fines Italian Animation Company for Sanctions Violations

27/06/2024

Mondo TV made wire transfers via US financial institutions to an animation studio owned by the North Korean government.

AML / KYC

New AMLA to Receive EBA’s AML/CFT Powers by End 2025

27/06/2024

The EBA said it will transfer its AML/CFT powers and mandates to the AMLA by the end of December 2025.

ESG / Sustainability

New Guidance Issued for Green Enabling Projects and SLLBs

26/06/2024

SLLBs, or “Sustainability-Linked Loan financing Bonds”, will enable issuers to finance or re-finance portfolios of sustainability-linked loans.

Fintech / Regtech

ASIC Issues Guidance on Communications Surveillance

26/06/2024

A new information sheet calls for market intermediaries to ensure effective monitoring and supervision of business communications.

Securities / Derivatives

CFTC Approves Four Comparability Determinations for Foreign Jurisdictions

26/06/2024

Certain swap dealers in Japan, Mexico, the EU, and UK can satisfy certain US capital and financial reporting requirements by complying with home country rules.

Sanctions

Canada Imposes Additional Sanctions Targeting Hamas

26/06/2024

The sanctions target nine individuals and two entities that facilitated, supported, and provided funding for the Hamas attacks on Israel last October.

Sanctions

OFAC Targets Iranian ‘Shadow Banking’ Network With Sanctions

26/06/2024

The sanctions target 25 companies based in Hong Kong, 13 in UAE, five in Iran, and one each in Türkiye and Marshall Islands.

Crypto / Digital Assets

France, Luxembourg Publish Results of Bond Tokenisation Project

26/06/2024

Project Venus highlighted the potential for wCBDC and DLTs to improve access, security, and efficiency of digital capital markets.