AML / KYC

Australia: Crown Casinos Ordered to Pay Record Breaking Penalty

12/07/2023

Crown will pay A$125mn now, A$125mn within a year, and the remaining A$200mn within two years for AML/CTF breaches.

ESG / Sustainability

China Issues Rules to Enable Voluntary Emissions Trading

11/07/2023

The proposed rules are expected to pave the way for the relaunch of a national voluntary carbon market.

AML / KYC

India Increasingly Using CNY to Buy Russian Oil

11/07/2023

The relative ease with which Russia can accept yuan payments has led to adoption of the Chinese currency for some 10% of payments.

Capital / Liquidity

China Extends Policy Measures to Support Real Estate Market

11/07/2023

The extension will helpensure financial services are available to support the delivery of completed properties to homebuyers.

Securities / Derivatives

PCAOB Commences New Round of Audit Inspections in Hong Kong

11/07/2023

The PCAOB is reviewing audit reports of about a dozen New York-listed Chinese companies – all clients of PwC, EY and Deloitte.

AML / KYC

US Treasury Asks Hong Kong FIs to Help Prevent Export Control Evasion

11/07/2023

Treasury officials reportedly asked banks to help identify certain high-tech items being shipped to Russia via Hong Kong.

Market Infrastructure

Singapore Issues Notice on Bloomberg’s Publication of MAS Recommended Rate

10/07/2023

The Spread Adjustment published by Bloomberg “differs slightly” for the overnight and 1-month tenor, the SC-STS explains.

AML / KYC

G7 Forms Joint Task Force to Tackle Corruption in Ukraine

10/07/2023

The G7 nations will collaborate on sharing information and devise strategic approaches to address Ukraine corruption-related challenges.

Enforcement

China Marks End of Tech Crackdown With Ant Group Penalty

10/07/2023

Ant Group was fined CNY 7.1 billion. The PBOC and CSRC said they would shift focus to more “normalised supervision”.