AML / KYC

ESMA Withdrawal of Recognition for Dubai CCP Takes Effect

07/02/2024

Dubai Commodities Clearing Corporation’s appeal of ESMA’s withdrawal decision has been dismissed.

Securities / Derivatives

US SEC Adopts Rule to Boost Oversight of Proprietary Traders

07/02/2024

Firms that take on significant liquidity-providing roles in markets will be required to register as dealers and meet other requirements.

Crypto / Digital Assets

Thailand Announces Vat Exemption for Digital Asset Trading

07/02/2024

The Finance Ministry has dispensed of requirements to pay seven percent VAT on income derived from crypto and digital token trading.

Enforcement

Former China Merchants Bank President Sentenced to Life in Prison

07/02/2024

Other former senior executives of Qianhe Capital Management, ICBC, Taiping Life Insurance, and Bank of Communications also facing criminal charges.

Crypto / Digital Assets

Korea to Introduce Vetting Process for Crypto Executives

07/02/2024

Crypto firms would have to submit “change reports” to KoFIU and secure its approval to replace or appoint a new representative or executive officer.

AML / KYC

Iraq Bars Eight Local Banks from Accessing US Dollars

06/02/2024

The move came days after a visit to Iraq by a top US official to discuss measures to protect the financial systems from criminal, corrupt and terrorist actors.

Sanctions

Canada Joins Allies in Sanctioning Hamas Officials

06/02/2024

This is the first time that Canada has used sanctions under its SEMA regulations to target non-state actors.

Capital / Liquidity

China NFRA Urges Banks to Lend to Real Estate Sector

06/02/2024

The NFRA asked banks to actively engage with the new real estate finance coordination mechanism and “fully meet reasonable financing needs as much as possible”.

ESG / Sustainability

China Releases New Trading Rules for National Carbon Market

06/02/2024

The new regulations cover all the main aspects of carbon emission trading and address the issue of carbon emission data falsification.