Enforcement

Shinhan Investment Corp Under Probe for “Unusual” Futures Losses

19/10/2024

Shinhan Investment Corp experienced a KRW 13 billion in futures trading losses while it was acting as a liquidity provider for ETFs.

Capital / Liquidity

China’s NFRA Updates Rules for Syndicated Loan Business

19/10/2024

The NFRA said the revised rules, proposed in March, will help to “enhance banks’ enthusiasm for developing syndicated loan businesses”.

Enforcement

DOJ Secures $950m Settlement to Settle Bribery, Fraud Charges

19/10/2024

RTX Corporation, the defence contractor formerly known as Raytheon, defrauded the US government through its billings and paid bribes to secure contracts in Qatar.

Capital / Liquidity

China NFRA Issues Clarifications on Regulations for NBFIs

19/10/2024

The NFRA clarifies that certain NBFIs do not have to comply with the same rules as banks due to their tendency to have fewer shareholders and concentrated shareholdings.

Sanctions

UK Sanctions Another 22 Russian Shadow Fleet Vessels

18/10/2024

The UK also sanctioned Russian gas company Rusgazdobycha JSC, to ratchet up pressure on the Russian gas industry.

Enforcement

OFAC Fines Beverage Company for Violating DPRK Sanctions

18/10/2024

Vietnam Beverage Company Limited subsidiaries sold beer and spirits to North Korea, with the payments processed through US correspondent banks.

Fintech / Regtech

Wise Granted Approval to Join Japan’s Zengin Network

18/10/2024

Wise is the first non-bank and the first foreign financial company to be granted approval to join the Zengin payment network.

Market Infrastructure

DSB Says Australia, Singapore Ready for UPI Reporting

18/10/2024

Australia and Singapore will go live with UPI reporting requirements for OTC derivatives transactions starting from 21 October.

Market Infrastructure

FSB Proposes Common Format for Reporting Operational Incidents

18/10/2024

The FSB has published for consultation a common format which can be used by financial firms to report operational incidents.