Enforcement

Former China Citic Bank President Gets Suspended Death Sentence

13/11/2023

A former China Merchants Bank president also pleaded guilty to bribery charges last week, and a new probe was launched into a former ICBC vice president.

Enforcement

CSRC Probes Singapore Unit of Chinese PE Firm Hillhouse Capital

13/11/2023

The CSRC is investigating whether HHLR Management violated share transfer rules by disposing of shares in LONGi Green Energy Technology.

Fintech / Regtech

CSRC Seeks Greater Standardisation in Securities, Futures Industry

13/11/2023

Greater standardisation will ultimately reduce overall costs to market participants in the securities and futures industry, the CSRC said.

Enforcement

ASIC Fines HESTA Super Fund for “Misleading” Advertising

13/11/2023

HESTA performance figures used in Facebook and Instagram ads and in a webinar did not specify the period the figures related to.

AML / KYC

Cambodia Receives Rating Upgrade for FATF Recommendation 7

13/11/2023

Cambodia’s rating was upgraded due to a law that implements targeted financial sanctions for WMD proliferation and financing.

Enforcement

EU Parliament Calls for Stronger Russia Sanctions Enforcement

13/11/2023

Resolution urges EU to strengthen enforcement of existing sanctions while adopting new sanctions on Russian petroleum and diamonds, including refined products from India and other markets.

Sanctions

Canada Sanctions News Outlets Linked to Russian Disinformation

12/11/2023

The nine individuals and six entities are accused of spreading information justifying Russian aggression against Ukraine, Canada’s foreign ministry said.

Crypto / Digital Assets

APAC FIs See Cost Savings as Main Benefit of Tokenisation: Survey

12/11/2023

A survey of FIs conducted by SBI Digital Assets Holdings found that FIs see cutting out intermediaries as the top benefit of tokenisation.

AML / KYC

US Fed Probing Morgan Stanley AML Controls – Report

12/11/2023

The Fed is reported to be assessing whether Morgan Stanley has sufficient controls in place to prevent wealthy foreign customers from laundering money.