Market Infrastructure

China Drafts New Data Security Rules for Auditors

18/11/2023

The rules require auditors to improve data security management, and store audit working papers only within China’s borders.

Crypto / Digital Assets

GBBC Announces Merger with US Blockchain Coalition

18/11/2023

The US Blockchain Coalition will become a national initiative of GBBC, which will have nearly 600 institutional members post-merger.

Securities / Derivatives

Korea Unveils Proposed Reforms to Strengthen Short Selling System

17/11/2023

Under the proposals, institutional and retail investors will be subject to the same rules, and naked short selling can be penalised with a 10 year market ban.

ESG / Sustainability

MAS Launches Digital Platform to Streamline ESG Reporting

17/11/2023

The new platform will consolidate and synergise all of Project Greenprint’s existing utilities and help companies automate their ESG reporting process.

AML / KYC

FATF Updates Standards to Address Adverse Outcomes Facing NPOs

17/11/2023

The FATF adopted amendments to Recommendation 8 and its Interpretive Note and updated its best practices paper on combatting TF abuse of NPOs.

AML / KYC

Pacific Islands to Bolster Sharing of Financial Intelligence

17/11/2023

Pacific Island FIUs met in the Cook Islands this week. It was revealed that AUSTRAC provided the Cook Islands FIU a new data analytics system.

Sanctions

US Sanctions Highlight Russian Influence in Balkans Region

17/11/2023

US government actions targets individuals and entities linked to Russia accused of corruption and destabilising activities in the Balkans.

Enforcement

OFAC Sanctions UAE Companies, Vessels for Trading Russian Oil

17/11/2023

Latest OFAC action meant to strengthen enforcement of the G7 oil-price cap as Russia continues to profit from oil exports.

Sanctions

US Lifts Export Controls on Chinese Institute as Part of Fentanyl Deal

17/11/2023

The US Commerce Department removed China’s Ministry of Public Security’s Institute of Forensic Science from the Entity List as part of a bilateral effort to regulate the fentanyl trade.