Big Picture

US Govt Accountability Office Calls for Federal Oversight of Crypto Sector

27/07/2023

GAO report reveals significant regulatory gaps in crypto asset oversight, recommending comprehensive federal intervention to mitigate blockchain-related risks.

Enforcement

Australia Fines Meta A$20m Over Misleading Data Usage Practices

27/07/2023

Australian Federal Court ordered Meta’s subsidiaries to pay AUD 20 million over deceptive consumer data usage, impacting over 270,000 users.

AML / KYC

US Agencies Call on Firms to Self-Disclose Sanctions Violations

27/07/2023

Self-reporting of sanctions and export controls violations make companies potentially eligible for “significant mitigation”.

China NDRC Outlines New Measures to Stimulate Private Investment

27/07/2023

The NDRC aims to promote private investment by clarifying objectives, targeting key sectors, and improving guarantee mechanisms.

AML / KYC

Australia: National Digital ID System Could Launch Within 12 Months

27/07/2023

Australia’s national digital ID system to revolutionise identity verification, streamline processes and enhance security.

AML / KYC

UK and Australia Illicit Financing Co-ordination Dialogue

27/07/2023

High-level dialogue between UK and Australia reaffirms commitment to combat illicit financing and corruption.

Securities / Derivatives

CSRC Warns Against Negative Portrayals of China in IPO Documents

27/07/2023

Markets regulator urges law firms to tone down China risk descriptions in IPO prospectuses for offshore listings.

Securities / Derivatives

HKEX, IDX Sign MoU to Explore Cross-Market Listings

26/07/2023

HKEX and IDX will look to collaborate on cross-border listings, joint product development and ESG initiatives.

AML / KYC

ESMA Withdraws Recognition Decisions for UAE CCPs

26/07/2023

The recognition decisions were withdrawn due to the UAE’s including in the EU’s AML blacklist.