Big Picture

Report Calls on US Congress to Review DRPK Sanctions

10/05/2024

The report warns that the enhanced partnership between Russia and North Korea could undermine the effectiveness of US policy.

Enforcement

FCA Defends Proposal to Name Firms Under Investigation

09/05/2024

The government, lawmakers and industry worry that the ‘name and shame’ approach will harm the market and individual companies.

Crypto / Digital Assets

EBA Publishes MiCA Standards for Stablecoin Authorisation

09/05/2024

New standards also set out the information that must be submitted for acquisitions in issuers of asset-referenced tokens.

Securities / Derivatives

Taiwan Revises Incentive Programme for Domestic Fund Managers

09/05/2024

The “Leap Forward Plan” initiative is being refined to make it more targeted towards actively managed funds rather than passively managed funds.

Fintech / Regtech

FSC Korea Enhances Regulatory Sandbox Mechanism

09/05/2024

The FSC is scrapping some requirements to expedite the sandbox’s application, review and approval processes.

Sanctions

OFAC Removes Sberbank Switzerland from Sanctions List

09/05/2024

Sberbank sold its Swiss subsidiary in September 2022 and the bank was then renamed to TradeXBank Ltd.

Crypto / Digital Assets

Singapore Law Firm Pays $1.4m Ransom Demand

08/05/2024

The law firm was initially asked to pay $2mn, but the Akira ransomware group agreed to lower the amount after negotiations.

Enforcement

US SEC Notifies Robinhood of Pending Enforcement Action

08/05/2024

The action is related to the cryptocurrencies offered on Robinhood’s platform, some of which may be classified by the SEC as securities.

Sanctions

Russia Court Authorises Seizure of JPM, Commerzbank Assets

08/05/2024

The arbitration court authorised the seizure of $13.3mn from Commerzbank (Eurasia) JSC, a subsidiary of JPMorgan and Commerzbank.