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.

Securities / Derivatives

Goldman Agrees to Penalties for Trade Surveillance Failures

09/02/2024

Goldman did not include some of the securities it traded in surveillance reports between February 2009 and mid-April 2023.

AML / KYC

New FinCEN Rule Targets Money Laundering in Real Estate

09/02/2024

Certain real estate professionals would be required to report all-cash transfers of residential real estate to legal entities or trusts.

ESG / Sustainability

Major Chinese Bourses Issue Sustainability Reporting Guidelines

09/02/2024

Companies in the SSE 180, STAR 50, SZSE 100, and ChiNext indexes, and those dually listed overseas, have to report in line with the new guidelines by 30 April 2026.