AML / KYC

Five Banks Searched in French Tax Fraud Probe

29/03/2023

Four major French banks and a foreign bank were targeted by simultaneous searches related to the so-called “Cum-Ex” tax scandal.

Enforcement

JPMorgan’s Dimon to Give Sworn Deposition for Epstein Lawsuits

29/03/2023

Last week, a judge ruled that JPMorgan Chase and Deutsche Bank must both face sex trafficking lawsuits related to the late Jeffrey Epstein.

Crypto / Digital Assets

Australia: Senator Introduces New Crypto Regulation Bill

29/03/2023

Senator Andrew Bragg said Australia’s crypto regulation has stalled and the government’s “token mapping” consultation programme is too slow.

AML / KYC

New Roadmap Proposed to Boost Financial Inclusion in Trade

29/03/2023

The Roadmap identifies areas where coordinated action can make a significant impact, including through accelerated LEI adoption.

Enforcement

Malaysian Court Jails Former Hong Leong Investment Banker

29/03/2023

The former investment banker convinced investors to invest over $390,000 in securities products that did not exist.

Securities / Derivatives

AllianzGI Applies to Open New Fund Business in China

29/03/2023

Allianz already owns 49 percent of a China joint venture. The new licence, if granted, will help it boost its presence in China’s mutual fund market.

ESG / Sustainability

RBNZ Proposes New Guidance on Managing Climate Risk

29/03/2023

The guidance proposes that regulated entities develop their capabilities in climate-related scenario analysis and stress testing, outlining the RBNZ’s latest thinking on best practice.

Capital / Liquidity

FSB Addresses Financial Stability Implications of Recent Bank Failures

29/03/2023

The FSB said its members have agreed to “review the lessons to be learned from the recent actions by authorities to resolve financial institutions”.

Enforcement

ASIC Fines ALT Financial Group for Failing To Lodge Financial Reports

29/03/2023

The fine was one of the largest ever issued by ASIC for failures to lodge financial reports. ALT Financial Group was convicted in absentia on 13 ASIC charges.