Singapore, Cambodia Launch Financial Transparency Corridor

19/06/2024

The initiative will enable better credit risk assessments by participating FIs in both countries and improve access to financing for SME trade.

Sanctions

Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

19/06/2024

Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.

Enforcement

‘Gemini Earn’ Investors Secure Full Recovery of Crypto Assets

18/06/2024

The NYAG’s claims against Gemini are now fully resolved, with Gemini Earn users receiving full recovery of the digital assets owed to them.

Capital / Liquidity

FSC Korea Approves Rule Change for Financial Conglomerates

18/06/2024

The amendment increases focus on internal control and risk management in financial conglomerate risk assessments.

Capital / Liquidity

UBS to Repay Investors for Credit Suisse’s Greensill Losses

18/06/2024

UBS is offering to repay investors who lost money in Credit Suisse funds as a result of Greensill Capital’s bankruptcy in 2021.

Capital / Liquidity

HKMA Tweaks Rules to Address Homebuyer Hardship

18/06/2024

The adjustments aim to address depressed valuations, simplify borrowing capacity calculations, and reduce rental income haircuts.

New Zealand FMA Issues New CoFI Guidance for Smaller FIs

18/06/2024

The guidance will help smaller firms establish a Fair Conduct Programme and apply for the CoFI licence.

Sanctions

OFAC Sanctions Targets Linked to Houthi Weapons Procurement

18/06/2024

OFAC designated three companies in China; entities in Hong Kong, UAE and Oman; three individuals; and a vessel.

Securities / Derivatives

PASLA to Expand Footprint to Australia, New Zealand

18/06/2024

PASLA will work with the Australian Securities Lending Association to finalise an agreement within Q4 2024.