Enforcement

US SEC Fines 16 More Firms in WhatsApp Probe

11/02/2024

The broker-dealer and investment adviser firms, including Oppenheimer and US Bancorp, agreed to pay a combined $81mn.

Securities / Derivatives

CSRC Designates 13 Funds as “Major” Money Market Funds

10/02/2024

The funds will have to comply with stricter regulatory requirements under rules jointly issued with the PBOC in February 2023.

Securities / Derivatives

HKEX to Accelerate Changes to Executive Leadership

10/02/2024

Current CEO will step down earlier than planned. Co-COO Bonnie Chan will start as CEO on 1 March 2024 instead of 24 May 2024.

Enforcement

CSRC Punishes 63 Employees of China Merchant Securities

10/02/2024

The CSRC warned of increased on-site inspections and a coming crackdown on illegal stock speculation and “irresponsible behavior” by securities practitioners.

Fintech / Regtech

US Launches AI Safety Consortium With 225 Members

09/02/2024

Members include OpenAI, Google, Microsoft, Meta, Apple, Amazon, Nvidia, JPMorgan Chase, Bank of America, Mastercard, Visa and others.

Sanctions

OFAC Announces Russian Diamond Ban, Price Cap Sanctions

09/02/2024

Import ban on Russian diamonds starts 1 March 2024. New sanctions target UAE-based entities and an oil tanker.

Sanctions

Australian Court Rejects Sanctions Challenge from Rusal Founder

09/02/2024

The Federal Court ruled that the sanctions imposed on Russian oligarch Oleg Deripaska were valid and proportionate.

Enforcement

Australian Court Rules Yield-earning Crypto Product Illegal

09/02/2024

The Federal Court ruled that Block Earner was offering unlicensed financial services through its “Earner” product.

Securities / Derivatives

US SEC Approves Post-trade Transparency Rule for Treasury Market

09/02/2024

Post-trade transparency in the Treasury markets will for the first time be on a trade-by-trade basis, rather than aggregated.