Enforcement

US Authorities Charge 14 Over DRPK IT Workers Scheme

12/12/2024

US employers unwittingly employed 14 North Korean IT workers for years and paid them hundreds of thousands of dollars in salary.

Sanctions

US Disburses $20bn Portion of G7 Loan to Support Ukraine

12/12/2024

The funds, part of the $50bn G7 loan package, will be repaid with earnings from the  Russian assets frozen by sanctions in Europe.

Sanctions

UK to Help Cyprus Establish Sanctions Implementation Unit

12/12/2024

That new unit will have new analytical tools and powers to investigate sanctions evasion and ensure the effectiveness of Russia-related sanctions.

Fintech / Regtech

New Zealand FMA to Launch Regulatory Sandbox Pilot in 2025

12/12/2024

The FMA is inviting expressions of interest from firms interested in joining the sandbox pilot, which will run from January to July 2025.

Enforcement

Former Chairman of China Everbright Group Handed Jail Sentence

12/12/2024

Tang Shuangning embezzled public property while at the PBOC in 2003 and accepted bribes in various positions between 2000 and 2017.

Market Infrastructure

FINMA Recognises KRX as Qualified Clearing Organisation

12/12/2024

The recognition means Swiss FIs can receive clearing services from KRX, which has previously been recognized by the CFTC and ESMA.

Market Infrastructure

Hong Kong Advances Cybersecurity Bill for Critical Infrastructures

12/12/2024

The Bill seeks to impose statutory requirements on designated operators of critical infrastructures to ensure that they take appropriate measures to protect from cyberattacks.

Capital / Liquidity

BCBS Finalises Guidelines on Managing Counterparty Credit Risk

12/12/2024

The guidelines emphasise the importance of counterparty due diligence, good governance and reliable data management.

China Grants AllianzGI Approval to Acquire Stake in Pension Firm

12/12/2024

AllianzGI is the first foreign firm to own a stake in Guomin Pension, which was launched in 2022 by large Chinese FIs to promote the private pension market.