Sanctions

US, South Korea Announce New Sanctions on DRPK Cyber Actors

27/05/2023

One of the entities jointly sanctioned by the US and South Korea employs “thousands” of North Korean IT workers that operate in Russia, China and Laos.

ESG / Sustainability

Korea Introduces Voluntary Guidance for ESG Rating Agencies

27/05/2023

The guidelines, created by three ESG evaluation agencies and endorsed by regulators, take effect from 1 September.

ESG / Sustainability

Climate Action Data Trust Unveils Data Dashboard Prototype

26/05/2023

The dashboard currently uses simulated data, but is intended to eventually link, aggregate, and harmonise all major carbon registry data.

Market Infrastructure

Five Eyes Agencies Warn of State Sponsored Cyber Attacks

25/05/2023

Chinese foreign ministry spokeswoman Mao Ning said the joint advisory is a “collective disinformation campaign” from the “empire of hacking”.

AML / KYC

Hong Kong SFC Issues Updated AML/CFT Guidelines

25/05/2023

The updated AML/CFT guideline includes a new stand-alone chapter on regulatory requirements and standards for addressing ML/TF risks associated with virtual assets.

Capital / Liquidity

FSC Korea Announces Decision to Set CCyB at 1 Percent

25/05/2023

The FSC said there was a need to enhance banks’ loss absorption capacity to prepare for macroeconomic uncertainties and increased risks in the financial sector.

Enforcement

Global Banks Under Probe for Breaking UK Competition Law

25/05/2023

The CMA “provisionally” found that five global banks broke competition law in the aftermath of the global financial crisis.

HSBC Planning Exit from Up to a Dozen Markets – Report

25/05/2023

It is not yet known which jurisdictions HSBC is considering exiting, but they are understood to be relatively small markets that may have underperformed.

AML / KYC

MAS Bars Insurance Agent for 8 Years After Corruption Conviction

24/05/2023

The former AIG and Liberty insurance agent paid bribes to an Indonesian Embassy official and one other individual.