PEPs & Sanctions

Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

19/06/2024

Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.

Cryptocurrency

‘Gemini Earn’ Investors Secure Full Recovery of Crypto Assets

18/06/2024

The NYAG’s claims against Gemini are now fully resolved, with Gemini Earn users receiving full recovery of the digital assets owed to them.

Capital Adequacy

FSC Korea Approves Rule Change for Financial Conglomerates

18/06/2024

The amendment increases focus on internal control and risk management in financial conglomerate risk assessments.

Credit Risk

UBS to Repay Investors for Credit Suisse’s Greensill Losses

18/06/2024

UBS is offering to repay investors who lost money in Credit Suisse funds as a result of Greensill Capital’s bankruptcy in 2021.

Credit Risk

HKMA Tweaks Rules to Address Homebuyer Hardship

18/06/2024

The adjustments aim to address depressed valuations, simplify borrowing capacity calculations, and reduce rental income haircuts.

Conduct, Culture & Accountability

New Zealand FMA Issues New CoFI Guidance for Smaller FIs

18/06/2024

The guidance will help smaller firms establish a Fair Conduct Programme and apply for the CoFI licence.

PEPs & Sanctions

OFAC Sanctions Targets Linked to Houthi Weapons Procurement

18/06/2024

OFAC designated three companies in China; entities in Hong Kong, UAE and Oman; three individuals; and a vessel.

Trading & Investment

PASLA to Expand Footprint to Australia, New Zealand

18/06/2024

PASLA will work with the Australian Securities Lending Association to finalise an agreement within Q4 2024.

Trading & Investment

Indonesia Stock Exchange to Upgrade Trading Platform

18/06/2024

IDX also announced that it will enhance its market surveillance capabilities and further develop its index business.