Capital / Liquidity

APRA Proposes Changes to Quarterly ADI Performance Publication

10/03/2023

The proposed changes are meant to align the QADIP publication with the new capital framework and ensure consistency with the ADICP.

Enforcement

OFAC Cracks Down on Entities Helping Iran Evade Sanctions

10/03/2023

The sanctions target entities in China, Hong Kong, Singapore, Malaysia and elsewhere for helping Iran evade sanctions and supplying critical components for its drones.

AML / KYC

1MDB: Ex-Goldman Banker Sentenced to 10 Years in Prison

10/03/2023

Prosecutors had sought a 15 year sentence for Roger Ng, saying he was a central player in the “brazen and audacious scheme” to steal billions of dollars from 1MDB.

Securities / Derivatives

Credit Suisse Approved to Launch China Wealth Management Business

10/03/2023

Credit Suisse has received investment consultancy and proprietary trading licences, and an expansion of its brokerage licence.

AML / KYC

REPO Task Force Has Immobilised $58b of Russian Assets

10/03/2023

The REPO Task Force has released a statement and a joint global advisory to help the private sector spot and prevent sanctions evasion.

AML / KYC

Indian Crypto Businesses Now Subject to AML Laws

10/03/2023

Indian crypto firms are now formally required to perform KYC due diligence, verify client identities, monitor transactions, and report suspicious activities.

Crypto / Digital Assets

Swift Concludes 12 Weeks of Tests on CBDC Interlinking Solution

10/03/2023

Nine banks and three central banks participated in testing Swift’s API-based CBDC connector across two blockchain networks and fiat-based payment systems.

Securities / Derivatives

SFC Fines City International Futures for AML Compliance Failures

10/03/2023

City International Futures is the 6th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

Fintech / Regtech

IOSCO to Develop Capacity Building Tool for Emerging Markets

09/03/2023

The so-called “MASI” tool will assist in self-assessments against the IOSCO core principles and facilitate comparisons against more developed regulatory frameworks.