Sanctions

OFAC Highlights US-Origin Goods in Latest Sanctions Settlement

18/08/2023

Employees at a UAE subsidiary of a US firm falsified documents in an attempt to disguise the transactions involving the re-export of US-origin goods to Iran.

Capital / Liquidity

HKMA, AFRC Sign MoU to Strengthen Cooperative Arrangements

17/08/2023

Collaboration will strengthen through case referrals, mutual assistance, capacity building and exchange of information.

Securities / Derivatives

CSRC Solicits Industry Views on Developing Asset Management Sector

17/08/2023

The CSRC is asking securities firms, fund managers and futures companies about the challenges their asset management business face.

India Tightens Guidelines for Financial Influencers

17/08/2023

Financial influencers have to be registered with SEBI and prominently display their registration number to offer investment-related advice.

Crypto / Digital Assets

Coinbase Successfully Registers as Futures Commission Merchant

17/08/2023

This is the first time a crypto-native platform in the US has been granted approval to offer crypto futures alongside traditional spot crypto trading.

Enforcement

ATO Has Stopped A$2.7b in Fraudulent GST Claims

17/08/2023

Fraudulent GST claims have led to more than 100 arrests, 10 convictions, and compliance actions taken against as many as 56,000 people.

Crypto / Digital Assets

FDIC Adds Crypto as Key Risk in Annual Review Report

17/08/2023

The FDIC says it has developed processes to engage in “robust supervisory discussions” with banks on crypto-asset risks.

Australia: Super Funds Call for Reforms to Tax Offset Scheme

17/08/2023

Twelve major industry super funds and Women In Super call for urgent LISTO reforms to avoid harming low-income workers.

Fintech / Regtech

China’s Non-bank Payment Sector Sees Shake-Up

17/08/2023

China’s third-party payment sector contracts, with prepaid card issuers exiting amid a stricter regulatory environment and dwindling business.