Sanctions

US Treasury Announces Easing of Venezuela Sanctions

21/10/2023

A six-month general licence allows the production, sale and export of Venezuela’s oil and gas, without limitations on customers or destinations.

Fintech / Regtech

Taiwan FSC Issues New Guidelines for P2P Lending Platforms

20/10/2023

P2P platform operators have to implement six risk control mechanisms, including a real-name account system and arrangements for segregating customer funds.

Capital / Liquidity

RBNZ to Amend ESAS Access Policy, Eligibility Criteria

20/10/2023

RBNZ consultation revealed “considerable demand” for access to ESAS by non-banks for payments and settlements, access to HQLA, and interest income.

Major China Developer Country Garden Effectively in Default

20/10/2023

Country Garden was due to make a USD 15.4 million coupon repayment this week, but failed to do so, according to reports.

Fintech / Regtech

China Unveils Global AI Governance Initiative at Belt and Road Forum

20/10/2023

The initiative emphasises equal rights for all countries and regions in the development and governance of AI technologies.

AML / KYC

FATF to Scrutinise India’s Use of NGO Laws Amid Allegations of Misuse

20/10/2023

FATF officials are expected to visit India in November to identify whether India is using its laws to suppress NPOs and civil society groups.

Enforcement

MAS Bans Former AXA and Aviva Financial Advisers

20/10/2023

The former advisers were banned for allowing unlicensed individuals to perform financial advisory services on their behalf.

Enforcement

MAS Instructs DBS, Citi to Investigate Delayed Recovery from Outage

19/10/2023

The banks took longer than the required four hours to recover from last Saturday’s outage. MAS said it will take appropriate supervisory actions after gathering the necessary facts.

AML / KYC

FinCEN to Require FIs to Report Transactions Involving Crypto Mixers

19/10/2023

FIs would have to report information about transactions they know or suspect could involve crypto mixing, whether in the US or in another jurisdiction.