Sanctions

OFAC Sanctions Procurement Network for Iranian Drones

28/09/2023

The new sanctions target five entities and two individuals based in Iran, China, Hong Kong, Turkey and UAE.

Fintech / Regtech

HKEX Confirms Launch Date for New IPO Settlement Platform

28/09/2023

The new platform, FINI, will shorten the time between the pricing of an IPO and the trading of shares from T+5 to T+2.

Fintech / Regtech

DBS, UOB Add Anti-Malware Feature to Banking Apps

28/09/2023

Last month, OCBC became the first Singapore bank to introduce the new security feature. Citi, DBS and UOB have now also added the feature.

Enforcement

UPDATED – US DOJ Probes Possible Sanctions Violations at Credit Suisse, UBS – Report

28/09/2023

The DOJ has requested information about how Credit Suisse and UBS handled the accounts of sanctioned clients in recent years.

AML / KYC

Indonesia to Sue UK for Share of 2020 Airbus Bribery Settlement

27/09/2023

Indonesia plans to sue the UK to annul a billion-dollar settlement Airbus agreed with France, the UK and the US.

AML / KYC

FinCEN to Extend Deadline for New Companies to Report Beneficial Owners

27/09/2023

Entities created or registered in 2024 would have 90 days instead of 30 days to file their beneficial ownership reports.

Fintech / Regtech

BOT Draws Lessons on Virtual Banks from Korea

27/09/2023

FSC vice chairman Kim So-young said Korean firms should try to obtain licences under Thailand’s virtual banks framework, which will be finalised in H2 2023,

Capital / Liquidity

APRA Consults on Updates to EFS Reporting Requirements

27/09/2023

The proposed changes seek to fix some inconsistencies and align the EFS requirements with the updated capital framework released in 2021.

Capital / Liquidity

Capital Ratios Exceed Pre-Pandemic Levels for Largest Banks: BCBS

27/09/2023

Three unnamed internationally active banks reported that their LCR was below the minimum required level of 100 percent at end 2022.