AML / KYC

Swiss Prosecutors Indict Ex-PetroSaudi Executives in 1MDB Case

26/04/2023

The two former executives were paid by Jho Low to set up a joint venture that was used to embezzle $1.8bn from 1MDB.

AML / KYC

US Treasury Sets Out Strategy to Address De-risking

26/04/2023

Regulations could be introduced to require FIs to take financial inclusion into consideration in the design of their AML/CFT programmes.

Fintech / Regtech

HKMA, PBOC Explore Use of CBDC for Cross-border Payments

26/04/2023

HKMA deputy chief Darryl Chan said there is scope to expand the Wealth Management Connect scheme and use CDI data for cross-border finance.

MAS Proposes Stronger Safeguards for Prospecting, Marketing

25/04/2023

FIs that regularly conduct marketing and distribution activities would have to identify senior managers to exert oversight over these activities.

Market Infrastructure

ARRC Allows Expanded Use of Term SOFR for Hedging

25/04/2023

Market participants can use Term SOFR in basis swap transactions even if they are not a direct party to a Term SOFR cash exposure.

Market Infrastructure

Macau Exchange Signs Cooperative Agreement with LuxSE

25/04/2023

Under the agreement, MOX-listed securities can be admitted for listing and trading on LuxSE’s exchange-regulated market, the Euro MTF.

Capital / Liquidity

First Republic Bank Assesses Options to Regain Strength

25/04/2023

Earlier this week, the bank revealed that it witnessed $100bn in deposit outflows in Q1 this year, representing 58 percent of total deposits.

AML / KYC

US Official Details Sanctions Evasion Red Flags During European Visit

25/04/2023

Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.

Crypto / Digital Assets

Lawmakers to Grant BOK Powers to Obtain Data from Crypto Firms

25/04/2023

Bank of Korea has expressed concerns that financial stability risks could be transmitted from the crypto market to traditional finance.