AML / KYC

India Orders Ban on Over 200 Betting and Loan Apps

08/02/2023

The move follows several arrests and raids on payment firms last year connected to a probe into money laundering by loan companies said to be controlled by Chinese individuals.

Securities / Derivatives

Asset Managers Launch Global Trade Finance Working Group

08/02/2023

New working group will work to boost the role of alternative lenders in providing trade finance, at a time when traditional lenders are retrenching.

ESG / Sustainability

SEBI Enhances Framework for Green Debt Securities

08/02/2023

Blue bonds, yellow bonds, and transition bonds are added. Disclosure requirements are enhanced. Independent third-party reviewers must be appointed.

AML / KYC

SFC Fines Jinrui Futures for AML Compliance Failures

08/02/2023

Jinrui Futures is the 5th firm to be fined over the use of software that allowed Mainland investors to trade in Hong Kong without opening a local securities account.

Crypto / Digital Assets

BIS Innovation Hub to Develop Stablecoin Monitoring Tools

08/02/2023

Project Pyxtrial will investigate technological tools that can enable systemic monitoring of stablecoins and their balance sheets.

AML / KYC

SEBI Directs Banks to Identify Beneficial Owners of All FPI Clients

08/02/2023

FPIs will lose their registration in India if updated beneficial ownership information is not obtained by 30 September 2023.

Crypto / Digital Assets

UK FCA Directs Crypto Firms to Prepare for New Ad Rules

08/02/2023

Breaches of the rules can result in takedowns of websites, public warnings, and other actions, including up to two years in prison.

Enforcement

ASIC Disciplinary Panel Fines Stockbroker Over Trade Pricing

07/02/2023

Wilsons Advisory and Stockbroking reported over 2,000 trades as TWPI transactions in circumstances where the trades did not provide price improvement.

Enforcement

US SEC Expands Staff Messaging Probe to Hedge Funds

07/02/2023

The SEC has asked firms including Point72 Asset Management and Citadel to search employees’ personal devices for evidence of business dealings via unapproved channels.