AML / KYC

US, UK, Canada Sanction Former Governor of Lebanon Central Bank

11/08/2023

The former governor and his close associates were sanctioned for “corrupt acts” that contributed to Lebanon’s economic crisis.

Capital / Liquidity

Sri Lanka Frees Up $620m in Liquidity Through SRR Cut

11/08/2023

The CBSL cut the SRR from four percent to two percent to free up liquidity and support an expansion of credit flows to the economy.

Crypto / Digital Assets

US SEC to Settle Case Against Crypto Firm Bittrex for $24m

11/08/2023

Bittrex and its co-founder and former CEO agreed to settle the SEC case for $24mn. The firm previously said it was exiting the US market due to a lack of regulatory clarity.

New Zealand Set to Unveil Regulatory Framework for BNPL

11/08/2023

BNPL lenders will have to complete comprehensive credit reporting when customers sign up or increase their credit limit.

Fintech / Regtech

China Proposes to Tighten Rules on Use of Facial Recognition Tech

11/08/2023

The draft rules prohibit the misuse of facial recognition technology by entities and in public spaces including banks.

Securities / Derivatives

SEBI Streamlines Approval Process for Change in Control of Merchant Bankers

10/08/2023

SEBI has streamlined the procedure of obtaining prior approval for a proposed change in control of merchant bankers and bankers to an issue.

Fintech / Regtech

China Launches New Data Platform for Regional Equity Markets

10/08/2023

The platform enables market participants to gain a unified view of corporate data from China’s 30-plus regional equity markets.

Sanctions

US, Canada, New Zealand Target Belarus With New Sanctions

10/08/2023

The coordinated sanctions come on the three-year anniversary of a presidential election which Alexander Lukashenko won by allegedly falsifying votes.

Global Law Firm Dentons to Split Off China Operations

10/08/2023

The move is a response to “new mandates and requirements relating to data privacy, cybersecurity, capital control and governance”.