Singapore, Brunei to Deepen Cooperation on Banking, Insurance Supervision

04/02/2023

New MoU will deepen cooperation by facilitating information exchange and cross border on-site inspections between the two jurisdictions.

AML / KYC

AFP Dismantles Chinese-Australian Money Laundering Syndicate

03/02/2023

Police seized over AUD 150 million in assets including crypto, and charged nine individuals including a NAB banker with money laundering.

AML / KYC

Transparency International Releases 2022 Corruption Perceptions Index

03/02/2023

Asia Pacific scored above the global average. New Zealand, Singapore, Hong Kong, Australia and Japan ranked in the top twenty.

Securities / Derivatives

Japan FSA Enhances Sustainability Disclosure Rules

03/02/2023

Companies will have to make more sustainability-related and gender-related disclosures for financial years ending on or after 31 March 2023.

AML / KYC

Singapore to Further Develop Financial Forensics Capabilities

03/02/2023

The Singapore Police Force and the Institute of Singapore Chartered Accountants will cooperate to advance the development of financial forensics in Singapore.

Crypto / Digital Assets

China: Hainan to Increased Scrutiny of ‘Digital Collectibles’ Industry

03/02/2023

Hainan authorities issued a notice highlighting the risks of fraud, money laundering, and illegal fund-raising in relation to digital collectibles, the term used for NFTs in China.

Enforcement

Barclays, UBS Face Scrutiny Over Ties to Sanctioned Russian

03/02/2023

The beneficial ownership of ten offshore trusts owned by Russian oligarch Roman Abramovich was changed shortly before he was sanctioned in the EU and UK.

Enforcement

South Korea Arrests Shipping Agent for DPRK Sanctions Violations

03/02/2023

The shipping agent was detained on charges relating to illegal shipments of diesel to North Korea conducted between October 2021 and January 2022.

Market Infrastructure

CSRC Draft Rules to Expand New IPO System to Main Boards

02/02/2023

The registration-based IPO system adopted by the STAR Market, ChiNext and BSE will be adopted on the main boards of the Shanghai and Shenzhen exchanges.