AML / KYC

FinCEN to Extend AML/CFT Requirements to Investment Advisers

14/02/2024

Investment advisers would have to implement risk-based AML/CFT programmes and report suspicious activity to FinCEN.

Sanctions

EU Proposes to Apply Trade Curbs to Some Chinese Firms

14/02/2024

The current draft sanctions package includes three mainland companies which EU firms would not be allowed to trade with.

Enforcement

Major Japan Insurers Directed to Divest ‘Strategic Shareholdings’

14/02/2024

The FSA suspects that the competitive environment may have been distorted by the practice of insurers’ holding shares in client companies.

ESG / Sustainability

LME Facing Lawsuit Over “Dirty Metals” Sourced from Indonesia

14/02/2024

The case could force the LME to revisit its rules for listing metals for trading, the London Mining Network and Global Legal Action Network said.

Sanctions

UK Announces First Sanctions Against Israeli Settlers

14/02/2024

Four individuals were designated for their involvement in violence against Palestinians in the West Bank, the first time the UK has imposed such measures.

Enforcement

CSRC Fines Semiconductor Startup & Executives for IPO Fraud

14/02/2024

S2C Limited was found to have inflated its operating income and net profit in its 2021 application to list on the Shanghai STAR Market.

Sanctions

EU Adopts New Rules for CSDs on Handling of Frozen Russian Assets

13/02/2024

The decision paves the way for the possible use of revenue generated from frozen Russian assets to aid in Ukraine’s reconstruction.

Sanctions

US VC Firms Accused of Supporting China’s Tech Ambitions

13/02/2024

A report released by a US congressional committee accuses Sequoia Capital China, Qualcomm Ventures and three other VC firms of supporting China’s military.

AML / KYC

Small German Bank Suspected of Helping Iran Evade Sanctions – Report

13/02/2024

BaFin has been investigating Hamburg-based Varengold Bank since last year, while APAS has been investigating its independent auditor, PwC.