AML / KYC

RBI Fines Amazon Pay’s India Unit for Breaching Local Norms

09/03/2023

Local reports say Amazon Pay as well as other fintech players are being penalised for delays in migrating to video-based KYC.

Crypto / Digital Assets

Court Allows Binance.US to Buy Voyager Despite SEC Objection

09/03/2023

The court said the SEC’s objection was “vague”, that it failed to present any evidence, and that it should not have waited until the last minute to raise its concerns.

AML / KYC

HK Losses from Crypto Scams Exceeded $200m in 2022

08/03/2023

Financial losses from crypto-related scams accounted for more than half of the total value lost through technology crime last year, police say.

ESG / Sustainability

Malaysia Roll Outs of First “Greening Value Chain” Programme

08/03/2023

The initiative, announced last November, is designed to provide technical assistance and funding to help SMEs decarbonise their operations.

Capital / Liquidity

CBIRC Amends Policy on Joint Lending by Banking Institutions

08/03/2023

The move is aimed at stopping companies from using multiple banks to obtain “excessive financing”, and helping banks to strengthen credit management and risk controls.

Fintech / Regtech

South Korea Approves Amendments to Data Privacy Law

08/03/2023

The amendment introduces new rights for data subjects, such as the right to data portability, and the right to object to automated decision-making.

Enforcement

LME Facing Three New Lawsuits Over Cancelled Nickel Trades

08/03/2023

In one new lawsuit, AQR Capital Management and four other hedge funds are claiming almost $100mn in damages.

Market Infrastructure

China Plans Structural Overhaul of Financial Sector Regulators

08/03/2023

A new national financial regulatory authority will be established, absorbing the CBIRC and taking over some functions from the PBOC and CSRC.

Sanctions

Russia Extends Restrictions on FX Withdrawals, Overseas Transfers

08/03/2023

The restrictions are being preserved due to the sanctions that prohibit Russian financial institutions from buying western countries’ cash, the central bank said.