AML / KYC

OFAC Sanctions Three for Facilitating Lazarus Group Activities

25/04/2023

China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.

Sanctions

UK, US, EU Announce Fresh Sanctions Against Iran

24/04/2023

US sanctions four senior Iranian law enforcement and military officials; EU sanctions eight Iranians and telco provider; UK sanctions four IRGC commanders.

Capital / Liquidity

RBNZ Sets Risk Weight for BGF Investments at 250pc

24/04/2023

A 250% risk weight will be introduced for bank investments in the Business Growth Fund, a new fund being introduced to improve SME access to finance.

Capital / Liquidity

US Fed Considers Closing ‘Loophole’ for Midsize Banks

24/04/2023

The Fed is considering removing an exemption that allows midsize banks to avoid disclosing and holding capital against unrealised losses on “available for sale” securities.

Capital / Liquidity

US Regulators Propose Stricter Approach to Supervising Non-banks

24/04/2023

The proposals will make it easier to designate investment managers, insurers and other nonbank financial groups as systemically important.

US Consumer Protection Agency Suffers Data Breach

24/04/2023

A  CFPB employee sent spreadsheets and other documents containing data of over 250,000 consumer accounts to their personal email account.

Securities / Derivatives

Taiwan to Strengthen Supervision on the Use of Robo-Advisers

24/04/2023

The maximum fine for malpractice at securities companies will be raised from TWD 3.6 million currently to TWD 15 million.

Fintech / Regtech

FSC Korea Enhances Fintech Sandbox Programme

24/04/2023

Moving forward, the FSC will be recruiting D-Testbed participants twice a year instead of once.

AML / KYC

Australia to Establish SMS Sender ID Registry

24/04/2023

The move will add a “new layer of protection” for Australian consumers against scammers using these known brands to target and deceive.