Sanctions

EU Leaders to Advance Plans to Use Profits from Russia Assets

23/03/2024

Total financial contributions for Ukraine are expected to be around EUR 4.0-4.5 billion this year. Banks are concerned about legal action from Russia.

Enforcement

FINRA Issues First Fine Over Use of Social Media Influencers

23/03/2024

FINRA said M1 Finance did not review or approve the content in influencers’ posts or have written procedures in place for supervising those communications.

Securities / Derivatives

Korea to Address Maturity Mismatch Risk in Trust & Wrap Products

23/03/2024

Legislative amendment requires firms offering trust and wrap products to adhere to certain risk management standards and obtain additional consent from investors.

Sanctions

India Stops Accepting Oil from Sanctioned Russian Vessels

22/03/2024

Private and state-run refiners in India have stopped accepting cargoes from vessels owned by Sovcomflot, which was sanctioned by the US last month.

China Launches New Complaints Handling Platform

22/03/2024

The platform will help improve efficiency, enhance service quality, and standardise complaints management processes at banks and insurers.

Sanctions

Armenian Banks Stop Accepting Russian Mir Cards – Reports

22/03/2024

The Union of Armenian Banks attributed the decisions to the risk of secondary sanctions from the US.

Securities / Derivatives

Japan GPIF Considers Diversifying Holdings Into Forests and Bitcoin

22/03/2024

World’s largest pension fund seeking information on investing in forests, farmland, gold, and crypto-assets; plans to resume foreign stock lending.

Capital / Liquidity

HK LegCo Reviews Legislation to Implement RBC Regime for Insurers

22/03/2024

The legislation covers revised qualifications for actuaries and the fees and levies payable to the IA. The new regime will commence from 1 July 2024.

Uncategorised

US SEC Facing Industry Lawsuit Over Dealer Rule

22/03/2024

AIMA and others say the SEC does not have statutory authority to change the definition of “dealer” and did not take into account economic consequences when adopting the rule.