AML / KYC

FINMA Examines UBS Process for Vetting Credit Suisse Clients

30/07/2024

UBS has reportedly been providing updates to FINMA on the types of wealth management clients it is on-boarding from Credit Suisse post-acquisition.

Securities / Derivatives

CFTC Expands Access to Foreign Futures for US Investors

30/07/2024

Commissioner Caroline Pham says US market participants will have more choice in brokers and broker arrangements to trade foreign futures.

Enforcement

UK Secures First Forfeiture from Sanctions Evasion Case

30/07/2024

Around $1mn was forfeited after being frozen since 2022. The funds were held by the wife of Petr Aven, a sanctioned Russian oilgarch.

Enforcement

Korea FSS Issues Warning Against NH Investment & Securities

30/07/2024

The firm provided benefits to eight corporations to induce them to sign retirement pension contracts or continue existing contracts.

Enforcement

ASIC Launching Dedicated Criminal Investigation Team

30/07/2024

The team will help speed up insider trading investigations and increase the number of cases that are referred for prosecution.

Crypto / Digital Assets

HKMA Opens Tender for Services to Support CBDC Sandboxes

30/07/2024

Hosting and supporting services would have to support up to 25 participants in the Project Ensemble and e-HKD sandboxes.

Market Infrastructure

UK FCA Proposes Reforms to Strengthen Capital Markets

30/07/2024

The FCA also finalised rules allowing the ‘bundling’ of payments for investment research and trade execution.

AML / KYC

France Restricts Access to Beneficial Ownership Register

29/07/2024

Competent authorities, professionals subject to AML/CFT obligations, and certain other individuals and entities will still be able to access the data.

AML / KYC

UK Launches Data Sharing Project to Tackle Organised Crime

29/07/2024

Seven UK banks will share information on customers with the NCA if certain markers of potential criminal behaviour are met.