Enforcement

US Agencies Probe AML Policies and Systems at Citi – Reports

20/11/2024

The probe centres on Citigroup’s work for Heritage Trust, which holds assets owned by a sanctioned Russian billionaire.

Market Infrastructure

CSRC to Launch New Round of Market Reforms

20/11/2024

Top CSRC officials said at the HKEX Connect Summit that a better environment will be created for international investors.

Sanctions

OFAC Sanctions Israeli Group Over West Bank Violence

20/11/2024

Amana is the largest entity targeted with US sanctions for violence in the occupied West Bank by Israeli settlers.

Fintech / Regtech

RBI to Launch Public Cloud for Financial Services Industry

19/11/2024

The RBI programme will use only local IT firms to offer cloud data storage to financial firms at affordable prices.

Sanctions

Australian Court Upholds Sanctions Ruling in Alumina Dispute

18/11/2024

The judgment suggests that a sanctioned person can have a shareholding of far less than 50% in a company for it to be considered sanctioned.

Sanctions

OFAC Targets Syrian Group Funding Iran’s Quds Force, Houthis

18/11/2024

OFAC sanctions target 13 vessels and companies in Lebanon, Panama, Iran, and the Marshall Islands that own or manage the vessels.

Sanctions

OFAC Penalises MetLife Subsidiary for Violating Iran Sanctions

18/11/2024

The insurer issued group medical and life insurance policies, collected premiums, and paid claims to schools and entities in the UAE and owned by Iran’s government.

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.