AML / KYC

SFC Announces 20 March 2023 Launch Date for HKIDR

13/12/2022

The SFC has decided to “provide more time for the industry’s preparation” and has announced a 20 March 2023 launch date for the HKIDR.

Crypto / Digital Assets

FTX Japan Authorised to Continue Operating to Repay Customers

13/12/2022

The FSA had ordered FTX Japan to suspend business operations by 9 December. The extension until 9 March 2023 will allow it to return funds to users.

AML / KYC

ASIC Commences Proceedings Against Star Entertainment Execs

13/12/2022

ASIC says Star board members and key executives breached their duties by failing to address known money laundering risks.

AML / KYC

Chinese Police Arrest 63 Members of Crypto Money Laundering Gang

13/12/2022

The gang is estimated to have laundered up to CNY 12 billion for both domestic and foreign criminal groups using cryptocurrency.

Enforcement

EU Commission Accuses Two Banks of Cartel Conduct

12/12/2022

Deutsche Bank and Rabobank traders allegedly exchanged commercially sensitive information and coordinated pricing and trading strategies on government bonds.

Sanctions

EU Commission Proposes Ninth Russia Sanctions Package

12/12/2022

The package covers almost 200 individuals and entities, including three more Russian banks. More export controls, mining investments, and Russian TV channels also targeted.

Press Release

Nasdaq Wins Best Solution in Market & Trade Surveillance

12/12/2022

Nasdaq was awarded best solution in market & trade surveillance at Regulation Asia’s 5th annual awards ceremony.

HKMA Finalises Code of Conduct Requirements for Banks

12/12/2022

Banks have until 1 July 2023 to ensure their Code of Conduct and internal control systems are consistent with the revised SPM module.

Enforcement

Singapore: Ex-Agritrade CFO Pleads Guilty to Deceiving Banks

12/12/2022

The former CFO used false financial statements to obtain loans for Agritrade International and its suppliers, causing over $469mn in losses for up to 12 banks.