AML / KYC

Taiwan Financial Adviser Suspected of Colluding with Fraud Syndicates

07/11/2023

A former financial adviser of DBS Taiwan reportedly caused $1.5mn of losses to clients through collusion with criminal gangs and fraud groups.

Capital / Liquidity

CSRC Proposes to Relax Capital Rules for Securities Firms

07/11/2023

The proposal adjusts the way securities firms calculate risk weightings, effectively reducing their capital requirements and allowing them to deploy more funds into the capital market.

Sanctions

US Government Tells Banks to Watch for Signs of Export Controls Evasion

07/11/2023

Latest BIS-FinCEN alert introduces a new filing code for suspicious activity reports related to suspected export controls evasion.

Enforcement

New OFAC Settlement Highlights Compliance for E-Commerce

07/11/2023

The US Treasury Department said a US-based online rewards company failed to identify transactions involving persons in Crimea, Cuba, Iran, and Syria.

Securities / Derivatives

CFTC to Allow Brokers Greater Flexibility to Invest Client Funds

06/11/2023

FCMs and DCOs will be able to invest client funds in foreign sovereign debt and certain short-term US Treasury ETFs.

Securities / Derivatives

Philippine Stock Exchange Debuts Short Selling – Report

06/11/2023

A total of 52 stocks and one ETF are available for short-selling. The PSE first proposed to allow short-selling in 1996.

Capital / Liquidity

FSOC Revamps Oversight Framework for Non-Bank Sector

06/11/2023

The changes will make it easier for the FSOC to designate a non-bank as systemically importance, and speed up its ability to respond to risks.

ESG / Sustainability

HKEX Postpones Enhancements to Climate Disclosure Framework

06/11/2023

HKEX said it intends for its requirements to take into account the ISSB adoption guide, which won’t be finalised until year-end.

Sanctions

US Commerce Department Fines Manufacturer for Aiding Israeli Boycott

05/11/2023

The US-based manufacturer admitted to violating the US Antiboycott Regulations by certifying that shipments to the Middle East did not contain Israeli-origin goods.