AML / KYC

FATF Publishes Consolidated Table of Assessment Ratings

15/01/2023

FATF members reportedly blocked proposals that could have more meaningfully reformed the process for adding countries to the blacklist and greylist.

AML / KYC

CSRC Official Faces Criminal Prosecution for Corruption

15/01/2023

The former head of the CSRC’s Shandong branch was found to have accepted gifts and bribes and engaged in illegal stock trading.

AML / KYC

GCFFC Establishes APAC Regional Chapter

13/01/2023

The APAC Chapter is led by DBS Bank’s Debra Au and Westpac’s Jodie Arthur serving as co-chairs, and Napier’s Robin Lee serving as vice chair.

Securities / Derivatives

FIA Publishes Netting and Collateral Opinions for China

13/01/2023

China’s adoption of its new Futures and Derivatives Law in August 2022 made it possible for FIA to commission the opinions.

Enforcement

US SEC Files Charges Against Crypto Firms Gemini, Genesis

13/01/2023

The SEC says the Gemini Earn programme, which allowed investors to earn interest on their crypto assets, constituted the offer and sale of unregistered securities.

Sanctions

Russia to Resume Yuan Trading to Stabilise Ruble

13/01/2023

The move comes a year after the central bank suspended yuan trading. The finance ministry said it is allocating the equivalent of about $800mn for FX trades.

AML / KYC

UK FCA Penalises Qatar’s Al Rayan Bank for AML Failures 

13/01/2023

The bank had no policy for handling large deposits and did not conduct an internal audit of its financial crime unit over an 8-year period, among other weaknesses.

Henan Fraud: Village Banks Start Repaying Big Depositors

12/01/2023

Customers with deposits under CNY 500,000 were repaid in several rounds since July 2022. The latest reimbursements involve deposits over CNY 500,000.

Securities / Derivatives

LME Blocked from Resuming Nickel Trade During Asia Hours

12/01/2023

The FCA thinks the LME does not have adequate supervisory controls for Asia market hours. The Oliver Wyman review has also been released.