AML / KYC

OFAC Quietly Blocks Payments with Indirect Links to North Korea – Report

14/02/2020

In private communications with banks, OFAC has been blocking usually-permissible payments with any overseas account that officials believe separately handled funds for North Korea.

ASIC Asks Superannuation Trustees to Improve Member Communications

14/02/2020

ASIC’s review of communications material from 12 superannuation funds found that some trustees are not always sufficiently focused on their members’ needs.

Big Picture

DTCC Calls For Coordinated Effort on DLT Security Framework

14/02/2020

DTCC is calling for a cross-sectoral, coordinated strategy around the development of a principles-based framework to identify and address DLT-specific security risks.

Enforcement

Nissan Seeks Damages from Former Chairman Carlos Ghosn

14/02/2020

The lawsuit seeks $90mn initially, seeking to recover funds linked to fraudulent payments, as well as legal, regulatory and investigation costs already incurred by Nissan.

Capital / Liquidity

HKMA Convenes Special Teleconference on SME, Personal Lending

14/02/2020

The Banking Sector SME Lending Coordination Mechanism discussed ways to extend greater support to SME and retail customers, in light of the Covid-19 threat to cashflows.

Capital / Liquidity

BSP Extends Prudential Loan Cap Transition Period for Foreign Banks

14/02/2020

The extended transitory period is aimed at ensure continued financing support for public sector initiatives under the ‘Build, Build, Build’ programme by foreign bank branches.

Crypto / Digital Assets

IOSCO Offers Guidance on Regulating Crypto-asset Trading Platforms

14/02/2020

The report provides a toolkit of possible measures for key considerations relevant to authorities for regulating crypto-asset trading platforms.

DBS Announces Relief Measures for SME, Retail Clients

14/02/2020

Relief will be provided on SME property loans, import facilities and retail mortgage loans. The announcement comes after a DBS employee tested positive for Covid-19.

Fintech / Regtech

ASX is Transforming Entire Technology Stack, says CEO

14/02/2020

Managing director and CEO Dominic Stevens said ASX’s strategy is not just about replacing CHESS or upgrading the futures trading system; the bourse is transforming its entire technology stack.