Market Infrastructure

RBI Calls for Fair Pricing, Transparency in FX Market

11/03/2023

The RBI has urged banks and FEDAI to ensure fair and transparent pricing for MSMEs and retail customers in the FX market.

Crypto / Digital Assets

Thailand Offers Tax Breaks to ICO Issuers and Investors

10/03/2023

Under a draft royal decree approved by lawmakers, corporate income tax and VAT will be waived for companies issuing digital tokens for investment purposes.

AML / KYC

BOT Announces Additional Measures to Combat Financial Fraud

10/03/2023

“Near real-time” monitoring systems must be implemented that can detect and immediately freeze suspicious transactions, among other measures.

Capital / Liquidity

APRA Proposes Changes to Quarterly ADI Performance Publication

10/03/2023

The proposed changes are meant to align the QADIP publication with the new capital framework and ensure consistency with the ADICP.

Enforcement

OFAC Cracks Down on Entities Helping Iran Evade Sanctions

10/03/2023

The sanctions target entities in China, Hong Kong, Singapore, Malaysia and elsewhere for helping Iran evade sanctions and supplying critical components for its drones.

AML / KYC

1MDB: Ex-Goldman Banker Sentenced to 10 Years in Prison

10/03/2023

Prosecutors had sought a 15 year sentence for Roger Ng, saying he was a central player in the “brazen and audacious scheme” to steal billions of dollars from 1MDB.

Securities / Derivatives

Credit Suisse Approved to Launch China Wealth Management Business

10/03/2023

Credit Suisse has received investment consultancy and proprietary trading licences, and an expansion of its brokerage licence.

AML / KYC

REPO Task Force Has Immobilised $58b of Russian Assets

10/03/2023

The REPO Task Force has released a statement and a joint global advisory to help the private sector spot and prevent sanctions evasion.

AML / KYC

Indian Crypto Businesses Now Subject to AML Laws

10/03/2023

Indian crypto firms are now formally required to perform KYC due diligence, verify client identities, monitor transactions, and report suspicious activities.