AML / KYC

Taiwan Sentences Corrupt Official to 8 Years in Prison

18/08/2023

The official committed property fraud, document forgery, money laundering, and accepted bribes in the form of cash, banquets and sexual entertainment.

Securities / Derivatives

China Asks Funds to Avoid Being Net Equity Sellers – Report

18/08/2023

Stock exchanges reportedly told some investment funds to refrain for a day from selling more onshore shares than they purchased.

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.