Sanctions

US Sanctions Zimbabwe’s President, Other Officials

05/03/2024

The sanctions were issued under the Magnitsky programme. The Zimbabwe Sanctions Regulations have been terminated.

Fintech / Regtech

Malaysia, Cambodia Agree to Link Payment Systems

05/03/2024

BNM and NBC agreed to encourage the use of local currency settlement and to link their payment systems to enable cross-border QR payments.

Crypto / Digital Assets

UDPN Launches “All-in-One” Digital Currency Sandbox

05/03/2024

The sandbox contains technologies for CBDC, tokenised deposits, stablecoins, purpose-bound money, and security and bond tokenisation systems.

ESG / Sustainability

Japan to Require Emissions Disclosures from Top-tier Firms

05/03/2024

The FSA is expected to release draft standards by end-March proposing requirements for Prime Market companies to disclose supply chain emissions data.

AML / KYC

EU Parliament Adopts Framework for Digital Identity Wallet

05/03/2024

The EU wallet will be used on a voluntary basis, allowing EU citizens to identify and authenticate themselves online without using commercial providers.

Capital / Liquidity

HKMA Issues Revised SPM Module on CCyB Settings

05/03/2024

The revised SPM module introduces a Positive Neutral CCyB of 1% for Hong Kong to ensure an additional buffer is available in the event of a shock.

AML / KYC

China: Amended Law Strengthening Bribery Penalties Takes Effect

04/03/2024

The amended law defines seven “severe” offences related to bribery, specifies higher penalties for such offences, and now also covers private enterprises.

AML / KYC

1,200 Victims Freed from ‘Notorious’ Scam Centre in Myanmar

04/03/2024

Most of the rescued victims are Chinese nationals, who are being taken to an airport in Thailand and flown back to China.

Enforcement

Boeing Fined $51m for Arms Export Control Violations

04/03/2024

Boeing is also required to engage a special compliance officer for at least two years and spend a further $24mn on strengthening its compliance programme.