PEPs & Sanctions

G7 Warns of Sanctions if Iran Delivers Missiles to Russia

17/03/2024

If Iran delivers ballistic missiles to Russia, Iran Air flights to European cities could be suspended, among other unspecified measures.

KYC & CDD

BSP Directs Banks to Prioritise PhilID in Customer KYC, Verification

15/03/2024

The BSP has identified the national ID, which is part of PhilSys, as a driver of financial inclusion in the Philippines.

Market Abuse

US Regulators Announce $350m Penalty for JPMorgan

15/03/2024

The action, taken to address trade surveillance deficiencies, requires the bank to seek regulatory approval to onboard any new trading venue.

Conduct, Culture & Accountability

Australia: More Guidance Issued to Support FAR Implementation

15/03/2024

On top of guidance for banks, APRA and ASIC issued a consultation on FAR implementation for insurance and superannuation entities.

Cryptocurrency

Australian Court Rules Against ASIC in ‘Finder Earn’ Crypto Case

15/03/2024

The court ruled against ASIC’s contention that the crypto investment product known as ‘Finder Earn’ was a debenture and therefore required authorisation.

Resolution & Recovery

Korea: Woori Achieves Full Privatisation 26 Years After Bailout

15/03/2024

Woori Financial Group, born through a merger of banks in the aftermath of the Asian financial crisis in 2018, is now fully privatised.

PEPs & Sanctions

OFAC Penalises Swiss Bank for Apparent Sanctions Violations

15/03/2024

OFAC said EFG International caused US firms to process 873 securities-related transactions on behalf of sanctioned individuals.

Payments & Settlements

PBOC Releases Payment Services Guide for Foreign Visitors

14/03/2024

The guide introduces and provides instructions on a variety of payment methods available to foreigners in China.

Liquidity Risk

ECB Announces Changes to Operational Framework

14/03/2024

The ECB will shrink its balance sheet, purge the system of excess liquidity, and incentivise banks to lend to each other.