PEPs & Sanctions

Australia Announces Expanded Sanctions Against Russia

19/05/2023

Entities affected include Russian state-owned atomic energy corporation Rosatom, and the country’s largest petroleum and gold companies.

Anti-Money Laundering

FATF President Calls on G7 to Act on Crypto Assets

19/05/2023

T Raja Kumar called on the G7 to “lead by example” in fully and effectively implementing the FATF Recommendations on crypto assets.

Fraud, Scams & Cybercrime

BSP Addresses GCash Service Disruption, Unauthorised Transactions

19/05/2023

Phishing attacks where users shared their OTPs with scammers were the root cause behind unauthorised transactions at GCash.

Clearing & Post-Trade

34 FIs Have Joined Swift Service for Addressing Settlement Fails

19/05/2023

The service leverages the UTI to link all Swift messages related to the same securities settlement flow in a transaction chain.

Data Privacy

Korea Establishes Taskforce to Improve Data Regulations

19/05/2023

The taskforce was established to lay the groundwork for promoting “data-driven innovation” in the financial industry.

Supervision & Enforcement

China Inaugurates New National Financial Regulator

19/05/2023

The NFRA absorbs the CBIRC in its entirety, and takes over certain functions from the PBOC and CSRC.

CBDCs

NY Fed, MAS Publish Results from Cross-Border Payments Study

19/05/2023

Each simulated payment scenario achieved end-to-end settlement in under thirty seconds on average using wholesale CBDCs.

Market Abuse

SEBI to Tweak Definitiion of ‘Unpublished Price Sensitive Information’

19/05/2023

SEBI’s amendments aim to improve transparency in the capital market and ensure timely and accurate disclosure of material events or information by listed entities.

Anti-Money Laundering

Deutsche Bank to Settle Jeffrey Epstein Lawsuit for $75m

19/05/2023

The lawsuit brought by an unnamed woman in November claimed Deutsche Bank missed red flags in Epstein’s accounts and chose profit over following the law.