Enforcement

Korea FSS Prepares for Fallout from Derivatives Losses

07/12/2023

Banks and brokers are expected to have to compensate investors for losses on HSCEI-linked derivatives when the products mature next year.

ESG / Sustainability

EMDE Body on Sustainable Finance Unveiled by China’s IFS

07/12/2023

The new body’s initial 42 members include HSBC, Standard Chartered Bank, Silk Road Fund and the CFA Institute.

Crypto / Digital Assets

Korea & Italy to Cooperate on RTGS Systems & CBDC

07/12/2023

Bank of Korea and Bank of Italy will share skills and knowledge and cooperate on technologies that support RTGS systems and CBDC.

Crypto / Digital Assets

SocGen Becomes First Major Bank to List Stablecoin

07/12/2023

The euro-pegged stablecoin was listed on crypto exchange Bitstamp, which has licences in Luxembourg and France.

Sanctions

Chinese Firms Targeted in Latest Round of UK Russia Sanctions

07/12/2023

UK sanctions 46 individuals and entities, including companies in Belarus, China, Serbia, Turkey the UAE, and Uzbekistan, with links to Russian military sales.

Sanctions

US Targets President’s “Wallets” in Latest Belarus Sanctions

07/12/2023

OFAC sanctions 11 entities and seven individuals accused of supporting Belarusian President Alyaksandr Lukashenka and Russia’s war effort.

AML / KYC

Canada’s FINTRAC Fines RBC for STR Filing Failures

06/12/2023

RBC failed to submit STRs in some cases, submitted some STRs incorrectly, and did not keep written policies and procedures up-to-date.

Securities / Derivatives

Japan Brokers Face Fresh Credit Suisse related Lawsuits

06/12/2023

SBI Securities, Rakuten Securities and Monex Securities are accused of not fully explaining the characteristics and risks of Credit Suisse’s ATI debt.

Market Infrastructure

PBOC Issues New Rules for Bond Valuation Agencies

06/12/2023

The rules will improve transparency over the selection and use of data sources, valuation methodologies, and conflicts of interest