PEPs & Sanctions

US DOJ Charges Freight Forwarder for Evasion of Russia Export Controls

09/11/2024

Eleview International and two senior executives transshipped dual-use and other “high priority” items to Russia via Turkey, Finland, and Kazakhstan.

Anti-Money Laundering

FATF Publishes Guidance on Conducting National Risk Assessments

08/11/2024

The guidance identifies prerequisites for a successful NRA and offers a structured approach for analysing money laundering threats, vulnerabilities, and risks.

Structural Regulation

PBOC, CSRC Pledge Improved Business Environment for Foreign FIs

08/11/2024

PBOC Governor Pan Gongsheng pledged continued central bank support at a seminar held with foreign financial institutions this week.

Market Risk

UPDATED – New Margin Rules for OTC Derivatives Take Effect in India

08/11/2024

Only the VM rules have taken effect on schedule. The effective date for the IM rules has been extended to 1 April 2025.

Tokenisation

Swift Payment Network Piloted for Tokenised Fund Settlements

07/11/2024

The pilot used the payment orchestration capabilities of existing Swift infrastructure to settle fund subscriptions and redemptions.

Anti-Money Laundering

PBOC Fines Two Leading Securities Firms for AML Violations

07/11/2024

The two firms were penalised for failures to properly identify customers and submit suspicious transaction reports, and for conducting transactions with unidentified customers.

Cybersecurity

UK Orders Chinese Firm to Sell Stake in Semiconductor Business

07/11/2024

The order aims to mitigate the risk of “UK-developed semiconductor technology and associated intellectual property being deployed in ways that are contrary to UK national security”.

Payments & Settlements

New Project Nexus Entity to be Established in Singapore

07/11/2024

The new management entity will oversee the live implementation of the Nexus operational model, which involves linking instant payment systems.

Anti-Money Laundering

FATF Upgrades South Africa on Three Recommendations

07/11/2024

The FATF said South Africa has made progress in addressing most deficiencies identified in its 2021 mutual evaluation report.