Sanctions

EU Parliament Approves Rules Criminalising Sanctions Violations

14/03/2024

Sanctions violations and circumvention will be punished with up to five years in jail for individuals and fines for companies.

AML / KYC

US Court Convicts Alleged Founder of Crypto Mixer ‘Bitcoin Fog’

14/03/2024

Russian-Swiss national Roman Sterlingov was found guilty on four charges, though he maintained his innocence during the jury trial.

Securities / Derivatives

KRX to Implement New Bond Listing Process from 1 April

13/03/2024

The changes are required to ensure any issues encountered in the issuance process are fully resolved before listing on the market.

Market Infrastructure

ASIC Revises Derivative Reporting Rules to Adopt November Proposals

13/03/2024

Other changes proposed in February 2024 have not yet been adopted. The new reporting requirements for OTC derivatives are due to come into effect on 21 October.

Sanctions

Russia Importing UK Luxury Cars via Azerbaijan – Reports

13/03/2024

Azerbaijan received £273mn in vehicle imports from the UK in 2023, a 1,860% increase from the five-year period preceding 2022.

Sanctions

Switzerland Opens First Russia Sanctions-related Criminal Probe

13/03/2024

The company being probed is understood to be a commodity trading firm that used a UAE subsidiary to circumvent Swiss sanctions against Russia.

Sanctions

OFAC Sanctions Four for Aiding Bahrain-based Terrorist Group

13/03/2024

OFAC has sanctioned four individuals who fled Bahrain in 2018 to evade terrorism-related charges and wound up in Iran.

Securities / Derivatives

China Launches First Two Consumer Infrastructure REITs

13/03/2024

The new REITs, listed on the Shanghai Stock Exchange, are backed by shopping centres and supermarkets.

Crypto / Digital Assets

Major FIs Conclude Blockchain Pilot on Canton Network

13/03/2024

Dozens of participating FIs settled transactions across 22 different permissioned blockchains that were connected to the Canton Network.