Sanctions

China Cautions Japan Against Expanding Export Controls

30/04/2024

MOFCOM said Japan’s proposal to expand its controls on certain semiconductor products will damage the stability of global supply chains.

Enforcement

Korea FSS to Launch Inspections at NongHyup Bank

30/04/2024

The bank experienced two misconduct incidents involving embezzlement, potentially due to weak internal controls.

ESG / Sustainability

China NFRA Issues New Guidance on Green Insurance

30/04/2024

The guidance sets out expectations for insurers to develop green insurance products and services and boost green investments.

Crypto / Digital Assets

Taiwan Prosecutors Charge 32 Suspects Over Crypto Fraud

29/04/2024

The suspects encouraged investors to purchase various tokens and manipulated their prices, causing TWD 800 million in losses.

AML / KYC

Message Encryption In Focus for Indian, European Authorities

29/04/2024

WhatsApp will leave India if it is required to break encryption. Europol expresses concern with message encryption on Messenger.

Enforcement

China Securities Regulator Issues Warning to CICC

29/04/2024

The regulator said CICC employs unqualified personnel and does not have adequate monitoring of employees in place.

Sanctions

OFAC Extends Authorisation for Russia-related Energy Transactions

29/04/2024

The general licence authorises energy-related transactions with nine Russian banks and the central bank. It was scheduled to expire on 1 May 2024.

Securities / Derivatives

CSRC Tightens Investment Restrictions for Former Employees

29/04/2024

The revised regulations prohibit former employees who held positions in issuance supervision and regulatory roles from participating in IPOs for ten years after departure.

AML / KYC

China Seeks Feedback on Draft Revisions to AML Law

29/04/2024

The scope of the law is expanded to cover non-financial businesses and professions and formally adopt the concept of “beneficial ownership”, among other changes.