Sanctions

EU Parliament Calls for Tougher Sanctions on Russian ‘Ghost Fleet’

18/11/2024

The sanctions will target “all individual vessels as well as their owners, operators, managers, accounts, banks and insurance companies”.

Capital / Liquidity

IAIS Approved Final Version of Insurance Capital Standard

17/11/2024

The ICS aims to provide a globally comparable risk-based measure of capital adequacy of internationally active insurance groups.

Securities / Derivatives

LME Clear Announces Reforms Tripling Member Capital Requirements

15/11/2024

LME Clear said the proposal would better align member capital requirements with those of peer CCPs and reassure market stakeholders of its markets resilience.

AML / KYC

New FinCEN Alert Offers Guidance on Detecting AI Deepfakes

15/11/2024

The alert explains typologies and provides red flag indicators to assist in identifying fraud schemes that leverage deepfake media created with GenAI tools.

PBOC Grants Credit Scoring Licence to Ant-Backed Firm

14/11/2024

This is the third personal credit reporting licence after one was granted to Baihang Credit in 2018 and Pudao Credit Rating in 2020.

ESG / Sustainability

More Progress Needed to Achieve Consistent Climate Disclosures

14/11/2024

Progress reports from the FSB and IFRS Foundation show that significant progress has been made, but more is needed.

China Announces New Tax Policies to Support Property Market

14/11/2024

Individuals purchasing residential property under 140 square meters or will pay deed tax at a rate of 1 percent.

AML / KYC

OFAC Probes UBS for Russia Risk from Credit Suisse Takeover

13/11/2024

OFAC is reportedly seeking information from UBS about the Russian clients the bank took on when it bought Credit Suisse in March 2023.

Enforcement

US PCAOB Revokes Registration of China-based Accounting Firm

13/11/2024

The Shenzhen-based CPA firm was censured and had its registration revoked over reporting failures and failure to cooperate with an investigation.