Sanctions

New US Sanctions Target Myanmar Jet Fuel Supplies

27/03/2023

OFAC published an alert explaining the sanctions risks associated with providing jet fuel to Myanmar’s military regime.

Fintech / Regtech

SWIFT Pilots Blockchain Solution to Tackle Corporate Actions Frictions

27/03/2023

The solution demonstrated the potential to reduce manual effort and errors in corporate action processing and deliver operational efficiencies.

AML / KYC

AUSTRAC Issues Guidance on Employee Due Diligence

27/03/2023

Guidance is provided on screening and re-screening employees and contractors for money laundering and terrorism financing risks.

Market Infrastructure

HKEX Finalises New Listing Rules for Specialist Tech Firms

27/03/2023

HKEX has lowered the threshold for specialist tech firms to list on its exchange and made other refinements. The rules take effect from 31 March.

Capital / Liquidity

US Lender PacWest Facing Lawsuit Despite Securing Lifeline

27/03/2023

Regional bank PacWest secured $1.4bn in additional liquidity via Atlas SP Partners, an investment firm launched out of Credit Suisse’s securitised-products group.

Enforcement

US DOJ Arrests and Charges Founder of Hacker Forum

25/03/2023

BreachForums is one of the world’s largest marketplaces for hacked and stolen data and other contraband.

AML / KYC

Credit Suisse, UBS Under US Sanctions Probe – Report

24/03/2023

Credit Suisse and UBS were included in a wave of subpoenas sent out by the DOJ before their merger agreement was announced.

Crypto / Digital Assets

UPDATED – Terraform Labs Founder Do Kwon Arrested and Charged

24/03/2023

Do Kwon was arrested in Montenegro. SDNY prosecutors released an indictment and will seek his extradition to the US.

Fintech / Regtech

ESMA Goes Live With New DLT Pilot Regime

23/03/2023

Firms can apply for permission to operate DLT-based market infrastructures and receive exemptions from the MiFIR, MiFID II and CSDR.