AML / KYC

US Court Sentences Binance Founder to Four Months Jail

01/05/2024

The sentence was below the three years requested by prosecutors and the 18 month maximum recommended under federal guidelines.

Capital / Liquidity

BCBS Proposes Counterparty Credit Risk Management Guidelines

01/05/2024

The guidelines seek to address weaknesses in CCR management, as demonstrated in the Archegos failure and other recent episodes of NBFI distress.

Korea FSS Issues “Model” Standards for Credit Finance Companies

01/05/2024

The standards call for better management of executives and employees to prevent money laundering, conflicts of interest, and misuse or embezzlement of loan funds.

Crypto / Digital Assets

Russia to Tighten Regulations for Crypto Mining Operations

01/05/2024

Earlier it was reported that Russia was planning to ban private cryptocurrencies outright, but a lawmaker has dispelled this notion.

Capital / Liquidity

Hong Kong IA Finalises Rules for Risk-based Capital Regime

01/05/2024

The finalised rules will be tabled in LegCo for negative vetting in May. The transitional measures relating to regulatory returns are extended from 2 to 3 years.

ESG / Sustainability

Latest G20 TechSprint to Focus on Supporting Sustainable Finance

01/05/2024

This year’s G20 TechSprint will focus on problem statements relating to sustainable finance, including nature-based solutions and ESG data improvements.

Enforcement

US DOJ Secures Guilty Plea in Export Control Evasion Case

30/04/2024

The defendant allegedly tried to procure dual-use electronic components for entities in Russia involved in the development and manufacture of drones.

Sanctions

Chinese Firms Turning to Illegal Channels for Russia Business

30/04/2024

With China’s big banks no longer processing Russia-related payments, exporters are increasingly turning to underground channels including cryptocurrency.

Market Infrastructure

CPMI Publishes SLA Guidance for Cross-border Payments

30/04/2024

New CPMI report offers high-level recommendations on the design of service level agreements used in cross-border payment arrangements.