Enforcement

Two Men Admit to Conspiracy to Export Aircraft Parts to Russia

05/04/2024

The two Russian nationals falsely claimed the parts were intended for countries other than Russia. US authorities stopped multiple shipments.

Sanctions

OFAC Sanctions 13 Vessels Over Iran Commodity Shipments

05/04/2024

The vessels, operated by UAE-based Oceanlink Maritime DMCC, are “deeply involved in the shipment of Iranian commodities”.

Crypto / Digital Assets

Ripple Announces Plans to Issue USD-backed Stablecoin

05/04/2024

Ripple said its reserve assets will be audited by a third-party accounting firm and that it will publish monthly attestations.

Securities / Derivatives

IOSCO Proposes Guidance on Supervision of Exchanges

05/04/2024

The consultation report provides guidance on supervising exchanges that provide multiple services or are part of a larger group.

Crypto / Digital Assets

ECB Announces Participants for Upcoming DLT Settlement Trials

05/04/2024

The first wave of trials will involve ten market participants, six market DLT operators, and five central banks.

Enforcement

US SEC Fines Another Investment Adviser Over Text Messaging

04/04/2024

Senvest Management was fined $6.5mn for failing to preserve business communications that took place on personal devices and messaging apps.

Fintech / Regtech

FSS Korea to Use Naver’s AI Tech in Supervisory Work

04/04/2024

Under a new MoU, the FSS will be able to use Naver’s technologies to enhance its supervision, monitoring, and inspection activities.

ESG / Sustainability

BCBS to Backtrack on Climate-related Standards – Report

04/04/2024

The BCBS plans to make its standards on disclosures and transition plans optional rather than universally adopted due to US pressure.

Sanctions

Russia-China Business Facing Banking ‘Bottleneck’ – Report

04/04/2024

VTB, the only Russian bank with a fully-fledged branch in China, is dealing with high demand from companies seeking to open accounts to do business with Russia.