AML / KYC

Indonesia to Sue UK for Share of 2020 Airbus Bribery Settlement

27/09/2023

Indonesia plans to sue the UK to annul a billion-dollar settlement Airbus agreed with France, the UK and the US.

AML / KYC

FinCEN to Extend Deadline for New Companies to Report Beneficial Owners

27/09/2023

Entities created or registered in 2024 would have 90 days instead of 30 days to file their beneficial ownership reports.

Fintech / Regtech

BOT Draws Lessons on Virtual Banks from Korea

27/09/2023

FSC vice chairman Kim So-young said Korean firms should try to obtain licences under Thailand’s virtual banks framework, which will be finalised in H2 2023,

Capital / Liquidity

APRA Consults on Updates to EFS Reporting Requirements

27/09/2023

The proposed changes seek to fix some inconsistencies and align the EFS requirements with the updated capital framework released in 2021.

Capital / Liquidity

Capital Ratios Exceed Pre-Pandemic Levels for Largest Banks: BCBS

27/09/2023

Three unnamed internationally active banks reported that their LCR was below the minimum required level of 100 percent at end 2022.

JPMorgan Settles Remaining Epstein-related Lawsuits

27/09/2023

The bank will pay $75mn to the US Virgin Islands and has also settled its own lawsuit against former executive Jes Staley for an undisclosed sum.

Market Infrastructure

China, EU Agree Measures to Ease Trade Tensions

27/09/2023

The two sides agreed to establish an export controls dialogue mechanism and to set up a new working group on financial regulation, among other measures.

Crypto / Digital Assets

Hackers Steal $200m from Mixin in 2023’s Biggest Crypto Hack

27/09/2023

Mixin has since offered the attacker a $20mn “BUG Bounty Reward” for the return of its users’ funds, and that the losses may not be as significant as initial estimates.

Big Picture

FIA Publishes Best Practices for Designing Volatility Control Mechanisms

27/09/2023

The paper presents best practices for ensuring derivatives exchange VCMs protect against disruptive activity while also facilitating genuine price discovery.