Anti-Money Laundering

Singapore: Resorts World Sentosa Fined for AML Failures

11/12/2023

Resorts World Sentosa did not perform customer due diligence checks and identity verification when receiving cash from third party depositors.

Anti-Money Laundering

Binance’s CZ Zhao Now Required to Remain in US Until Sentencing

11/12/2023

Initially, a magistrate judge appeared to be allowing Zhao to leave the US until his sentencing hearing in February. A district court judge has reversed this ruling.

AI Risk & Governance

European Lawmakers Reach Agreement on AI Regulation

11/12/2023

AI systems that pose minimal risk will not have to meet any specific obligations. High risk systems will have strict requirements. Systems that pose unacceptable risk will be banned.

PEPs & Sanctions

US, UK, Canada Announce Coordinated Human Rights Sanctions

11/12/2023

The US targeted individuals across nine countries; the UK sanctions included targets involved in forced ‘scam farm’ labour in Cambodia, Laos and Myanmar.

Structural Regulation

Thai SEC to Update Rules for Bond Issuance by Foreign Firms

10/12/2023

Foreign businesses will only be permitted to issue baht-denominated debt in Thailand if they are rated at least investment grade by an international credit rating agency.

PEPs & Sanctions

OFAC Announces Settlement with Nasdaq for Sanctions Violations

10/12/2023

Nasdaq’s Armenian subsidiary committed 151 apparent violations of sanctions on Iran before the violations were self-reported in 2014.

Sustainable Finance

Philippine SEC Launches Framework for Blue Bond Issuance

10/12/2023

SEC chairperson Emilio Aquino described the launch of the blue bond framework as a “giant leap” toward fostering a sustainable blue economy.

Trading & Investment

CSRC Proposes New Rules, Lower Fees for Public Funds Sales

10/12/2023

The rule changes seek to reduce the commission rates charged on public funds and improve the processes managers use to select distributors.

CBDCs

Taiwan Considers Platform Design for Possible Future CBDC

08/12/2023

Taiwan’s central bank has completed a wholesale CBDC feasibility and technology study but has not yet decided whether to introduce a CBDC.