Sanctions

US Issues New Sanctions Targeting Military Support to DPRK

17/12/2024

The sanctions targets include banks, financial representatives, generals, officials and foreign trade companies involved in Russia-DPRK oil trade.

Sanctions

EU Announces First Sanctions Under New ‘Hybrid Threats’ Regime

17/12/2024

The sanctions are in response to “Russia’s malicious actions and its lack of respect for a rules-based international order and international law”.

Sanctions

EU Council Adopts 15th Sanctions Package Against Russia

17/12/2024

The package targets 52 ‘shadow fleet’ vessels and for the first time adds Chinese entities and individuals to the EU sanctions register.

Capital / Liquidity

Korea Amends Rules for on Investors’ Foreign Currency Deposits

17/12/2024

The regulatory amendment increases the proportion of investors’ USD and JPY funds that securities firms have to deposit with the KSFC.

AML / KYC

Malaysia Advances Bill to Amend Trustee Act for AML/CFT

17/12/2024

The amendments will impose AML/CFT obligations on trustees, including requirements to maintain records on beneficial ownership.

Capital / Liquidity

HKMA Publishes Five Revised SPM Modules in Gazette

17/12/2024

The revised modules mainly include updates to cater for the implementation of Basel III rules on exposure limits and liquidity.

Enforcement

Greensill Group Auditor Suspended in Australia for Two Years

17/12/2024

Joseph John Santangelo was suspended for failing to carry out Greensill’s group audit in accordance with Australian Auditing Standards.

Enforcement

US SEC Fines Cantor Fitzgerald Over Misleading SPAC Disclosures

16/12/2024

Cantor Fitzgerald failed to disclose that it had already commenced negotiations with merger targets for two SPACs prior to their IPOs.

Market Infrastructure

China Expands Private Pension Scheme to Nationwide Implementation

16/12/2024

More banks are permitted to offer pension services and the eligible products have been expanded to include government bonds and index funds.