AML / KYC

Indian Banks Working on New Industry Platform to Combat Fraud – Report

30/08/2023

The platform will enable banks to share real-time information that can be used to stop digital fraud and trace the funds.

ESG / Sustainability

Verra Releases Version 4.5 of the VCS Standard

30/08/2023

The changes to the Verified Carbon Standard Programme strengthen its usability, transparency, integrity, and alignment with other carbon markets initiatives.

AML / KYC

Malaysia Freezes Bank Accounts, Makes Arrests in Bribery Probe

30/08/2023

The probe involves more than MYR 6 million in bribes allegedly paid to prominent figures and political leaders by a gambling company.

Market Infrastructure

SEBI Proposes to Increase Flexibility of New Social Stock Exchanges

30/08/2023

SEBI proposes to reduce the minimum issue size and the minimum application size to facilitate more fund-raising for NPOs.

Enforcement

CFTC Fines Goldman Sachs for Missing Audio Recordings

30/08/2023

Goldman’s vendor service for recording mobile calls failed during the pandemic. Commissioner Caroline Pham said the penalty is unfair.

Capital / Liquidity

US Proposes New Resolution Planning, Debt Rules for Banks

30/08/2023

Large banks would have to raise their long-term debt issuance by an estimated $70bn and issue more detailed resolution plans.

Sanctions

US, China Open Communication Channels on Export Controls

30/08/2023

US and Chinese officials agreed to establish a new “export control enforcement information exchange” mechanism and a “commercial issues working group”.

Enforcement

FSS Korea Confirms Misconduct Case at Lotte Card Co

30/08/2023

Two Lotte Card employees conspired to help a subcontractor win a deal and then the three shared in the proceeds.

Crypto / Digital Assets

UK Proposes Blanket Ban on Cold Calls for Financial Services

30/08/2023

The ban on cold calling, as proposed, would cover banking, payments, insurance, mortgages, various tangible investments, and cryptoassets.