AML / KYC

HK Police Arrest 11 in HK$124m Money Laundering Case

27/08/2023

Police believe the laundered funds could be tied to more than 20 fraud cases, including email and loan scams, and commercial and investment fraud.

Market Infrastructure

Vietnam to Launch New Securities Trading System in December

26/08/2023

The new system has already been delayed several years due to the Covid-19 pandemic and other factors. Securities firms are still behind schedule on testing.

ESG / Sustainability

Indonesia’s OJK Issues New Rules for Carbon Trading

26/08/2023

The rules set out how OJK will supervise carbon trading ahead of the planned launch of Indonesia’s first carbon exchange by end-September.

ESG / Sustainability

185 Countries Launch Global Biodiversity Framework Fund

25/08/2023

Canada and the UK are together providing about $160mn in seed money to set up the fund, which was first agreed in December 2022.

Enforcement

Indonesia OJK Issues New Regulations on Criminal Investigations

25/08/2023

The new regulations empower OJK to decide whether to pursue investigations, and agree to resolutions with the parties responsible for a criminal offence.

Market Infrastructure

Indonesia, Malaysia, Thailand to Boost Cooperation on Local Currency Use

25/08/2023

Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand will strengthen cooperation to promote the use of local currencies in bilateral transactions.

Enforcement

US Banks Agree to Settle Stock Lending Lawsuit for $500m

25/08/2023

Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS denied wrongdoing but agreed to settle the lawsuit to avoid further litigation.

Sanctions

US Commerce Dept Removes 27 Chinese Companies from “Unverified List”

25/08/2023

The Unverified List is part of the US Export Administration Regulations. A company may be placed on the list when certain information about it cannot be verified.

AML / KYC

Malaysia Considers Lawsuit Against Goldman Sachs Over 1MDB

25/08/2023

Prime minister Anwar Ibrahim said as much as 68% of the 1MDB losses have been recovered, but that his administration is considering ways to recover more from Goldman.