AML / KYC

UK Unveils Measures to Increase Corporate Accountability for Crime

16/06/2023

Under the reform plan, businesses involved in fraud, money laundering, and bribery will be subject to stricter scrutiny.

Sanctions

Russia to Enact Legislation Allowing it to Seize Western Assets

16/06/2023

The legislation would enable the Russian government to appropriate the assets of Western companies at significant discounts.

Big Picture

Faster Progress Needed to Enhance EU Capital Markets: IMF

15/06/2023

IMF managing director Kristalina Georgieva highlighted key priorities to enhance Europe’s capital markets.

Fintech / Regtech

BSP Proposes Enhance Guidelines for Electronic Fund Transfers

15/06/2023

In the event of unsuccessful transactions, financial institutions must return the amount to the sender within one hour.

Crypto / Digital Assets

ESMA Sets Out Plans for Crypto Rule Consultations

15/06/2023

With MiCA now in force, ESMA said it would consult on a range of technical standards that will be published in three packages.

Canada Pauses Work With AIIB to Probe China’s Involvement

15/06/2023

Canada will halt activity with the AIIB, after an official alleged that the bank was dominated by the Chinese Communist Party.

AML / KYC

US Lawmakers Introduce Bills to Increase FinCEN Accountability

15/06/2023

One of the bills will delay the effective date for the upcoming beneficial ownership information reporting requirements.

Market Infrastructure

India Supervisory Regime for CCPs Gains UK Equivalence

15/06/2023

Indian CCPs have been facing the possibility of losing their ability to provide clearing services to UK market participants.

Capital / Liquidity

US Lawmaker Calls for Reversal of FSOC Plans for Nonbank FIs

14/06/2023

Patrick McHenry said the FSOC’s plans to designate non-bank financial entities as systemically important based on size rather than activities will be problematic.