AML / KYC

Real Estate Sector Vulnerable to BEC Threats: FinCEN

30/03/2023

FinCEN published a report on the patterns and trends of business email compromise scams targeting the real estate sector.

Market Infrastructure

South Korea Grants Clearstream QFI Status

30/03/2023

The QFI status will enable Clearstream to offer omnibus account services for Korea Treasury Bonds and Monetary Stabilisation Bonds.

CBIRC Details Governance Improvements at Banks, Insurers

30/03/2023

Over the past three years, more than 7,600 shareholders who violated laws and regulations have either been liquidated or had their rights restricted.

Capital / Liquidity

UBS Plans to Run Credit Suisse Staff Through “Culture Filter”

30/03/2023

UBS chairman Colm Kelleher said the “culture filter” is needed to root out parts of Credit Suisse that had a “bad culture”.

Capital / Liquidity

Philippines to Merge Two Large State Lenders

30/03/2023

The merger of LandBank and the Development Bank of the Philippines will create the country’s largest lender by assets.

ESG / Sustainability

Vanguard Issued Warning in NZ for Late Disclosure of ASIC Action

30/03/2023

Vanguard took 55 business days to file a notice on New Zealand’s register about ASIC’s enforcement action. The requirement is 5 business days.

AML / KYC

HKMA, SFC to Host Discussions Between Crypto Firms & Banks

30/03/2023

A roundtable will take place on 28 April at the HKMA to facilitate dialogue and experience sharing regarding opening and maintaining bank accounts.

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.