AI Risk & Governance

US SEC Fines Two Investment Advisers for AI Washing

19/03/2024

“Investment advisers should not mislead the public by saying they are using an AI model when they are not,” said the SEC’s Gary Gensler.

PEPs & Sanctions

Microsoft, Amazon Suspend Russian Access to Cloud Products

18/03/2024

The move is a response to the EU’s 12th package of Russia sanctions, which prohibits companies from supplying enterprise or design software to companies in Russia.

Trading & Investment

Taiwan FSC Conducting Inspections at ETF Issuers – Report

18/03/2024

One of the areas the FSC is scrutinising is the use of online influencers by fund houses to promote their products.

Payments & Settlements

China UnionPay Launches Project to Optimise Payment Services

18/03/2024

China UnionPay will spend CNY 3 billion on acceptance terminal upgrades, signage placement and publicity in key cities.

Anti-Money Laundering

Japan to Offer Investment Visas to Venture Capitalists – Report

18/03/2024

A new five-year residency visa will reportedly be available to angel investors and venture capitalists in the next few months.

Conduct, Culture & Accountability

FSC Korea to Take Hana CEO DLF Case to Supreme Court

18/03/2024

The FSC has decided to appeal a High Court ruling that nullified a reprimand warning imposed on Hana Financial Group CEO Ham Young-joo in 2020.

Market Risk

HKMA Finalises Rules on Market Risk, CVA Risk Capital

18/03/2024

The HKMA said the revised market risk and CVA risk capital frameworks will come into effect “on a day to be appointed”, but intended to be 1 January 2025.

PEPs & Sanctions

Russia Imposes New Personal Sanctions on 227 US Citizens

17/03/2024

The sanctions target several current and former State Department officials, along with journalists, researchers, and members of the business community.

PEPs & Sanctions

OFAC Targets Another Vessel Over Iran Commodity Shipments

17/03/2024

The sanctions target a Panama-flagged vessel which OFAC says headed to China carrying Iranian commodities received on behalf of a Houthi financial facilitator.