Sanctions

US, UK Target Iranian Assassinations Network With Sanctions

30/01/2024

The sanctioned individuals carried out “numerous acts of transnational repression including assassinations and kidnappings across multiple jurisdictions”.

Fintech / Regtech

CFTC Consults on AI Uses and Risks in Derivatives Markets

30/01/2024

Responses will inform analysis on whether the CFTC should issue guidance or regulations on the use of AI in derivatives markets.

China Bad Debt Managers Reported to be Merging Into CIC

30/01/2024

State media Xinhua published and then deleted a report saying Cinda, Orient and Great Wall would merge into CIC.

Sanctions

US Sanctions Iraqi Bank for Enabling Iran-backed Terrorist Activity

29/01/2024

US Treasury cut off Al-Huda Bank from the US financial system and sanctioned its owner for serving as a conduit for terrorist financing.

Enforcement

Former China Development Bank President Gets 20 Year Jail Sentence

29/01/2024

He Xingxiang was found guilty of taking bribes, providing bank guarantees illegally, issuing loans illegally, and concealing offshore bank deposits.

Hong Kong High Court Orders Evergrande to Liquidate

29/01/2024

In the ruling, the court noted that Evergrande has not been able to bring forward a concrete restructuring proposal after more than 18 months.

Enforcement

Japan FSA Issues Orders to Insurance Major Over Fraud Scandal

29/01/2024

Sompo Japan Insurance is required to draw up an improvement plan including steps to change its corporate culture, enhance customer protection, and improve governance.

Capital / Liquidity

BOK Allows Non-banks to Participate in Open Market Operations

29/01/2024

Asset management firms, mutual savings banks and credit unions will be eligible to participate in MSB auctions and repo transactions with the central bank.

Sanctions

UK Warns of Sanctions Evasion Through Art Storage Sector

29/01/2024

Art market participants should have the ability to conduct regular due diligence checks and identify any change in a client’s circumstances or suspicious activity.