Securities / Derivatives

Japan FSA to Establish New Asset Management Division

30/12/2024

The FSA aims to develop the asset management industry as the fourth financial industry pillar alongside banking, securities, and insurance.

Market Infrastructure

SFC, HKMA Issue Revised Derivatives Reporting Guidance

30/12/2024

Revised FAQs and Supplementary Reporting Instructions have been issued to reflect changes taking effect on 29 September 2025.

Sanctions

Russia Already Using Bitcoin in Foreign Trade Transactions – Reports

30/12/2024

Russian Finance Minister said bitcoin  is already being used in foreign trade transactions as part of a new “experimental regime”.

Market Infrastructure

Hong Kong Gazettes Bill for New Company Re-domiciliation Regime

29/12/2024

The Bill to introduce the new company re-domiciliation regime will be introduced into the LegCo for first reading on 8 January 2025.

Sanctions

US Commerce Dept Fines Materials Supplier for Exports to Russia

29/12/2024

Indium shipped solder materials used in electronics manufacturing to Russia on 11 occasions between April 2022 and March 2023

Sanctions

EU Preparing Sanctions Over Attack on Undersea Power Cable

29/12/2024

Separately, Russia has declared a federal state of emergency in response to the ongoing oil spill in the Black Sea.

AML / KYC

OCC Issues Order Requiring BofA to Fix AML Deficiencies

28/12/2024

The order requires BofA to obtain OCC approval to launch new products or services that present high money laundering or sanctions risk.

Enforcement

1MDB Files Suit Against Corporate Service Provider Amicorp

28/12/2024

1MDB alleges HK-headquartered Amicorp used shell companies and fraudulent financial structures to facilitate the misappropriation of assets.

AML / KYC

AUSTRAC Publishes Unofficial “Future” Version of AML Act

28/12/2024

The document does not have legal effect but aims to help reporting entities understand the effect of the amendments passed in November.