Fraud, Scams & Cybercrime

Japan FSA Identifies Two More Safe Deposit Box Thefts

30/12/2024

There are now three cases of employees embezzling customer assets from safe deposit boxes at financial institutions.

Trading & Investment

Japan FSA to Establish New Asset Management Division

30/12/2024

The FSA aims to develop the asset management industry as the fourth financial industry pillar alongside banking, securities, and insurance.

Clearing & Post-Trade

SFC, HKMA Issue Revised Derivatives Reporting Guidance

30/12/2024

Revised FAQs and Supplementary Reporting Instructions have been issued to reflect changes taking effect on 29 September 2025.

Cryptocurrency

Russia Already Using Bitcoin in Foreign Trade Transactions – Reports

30/12/2024

Russian Finance Minister said bitcoin  is already being used in foreign trade transactions as part of a new “experimental regime”.

Structural Regulation

Hong Kong Gazettes Bill for New Company Re-domiciliation Regime

29/12/2024

The Bill to introduce the new company re-domiciliation regime will be introduced into the LegCo for first reading on 8 January 2025.

PEPs & Sanctions

US Commerce Dept Fines Materials Supplier for Exports to Russia

29/12/2024

Indium shipped solder materials used in electronics manufacturing to Russia on 11 occasions between April 2022 and March 2023

PEPs & Sanctions

EU Preparing Sanctions Over Attack on Undersea Power Cable

29/12/2024

Separately, Russia has declared a federal state of emergency in response to the ongoing oil spill in the Black Sea.

Anti-Money Laundering

OCC Issues Order Requiring BofA to Fix AML Deficiencies

28/12/2024

The order requires BofA to obtain OCC approval to launch new products or services that present high money laundering or sanctions risk.

Anti-Money Laundering

1MDB Files Suit Against Corporate Service Provider Amicorp

28/12/2024

1MDB alleges HK-headquartered Amicorp used shell companies and fraudulent financial structures to facilitate the misappropriation of assets.